🎰 Singapore to Overhaul National Gambling Regulator for - Gambling News

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Set to be implemented by , the GRA will see the current Casino Regulatory Authority (CRA), which oversees Singapore's casinos, and the.


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Monetary Authority of Singapore will have enhanced regulatory powers under Banking (Amendment) Bill

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The Gambling Regulatory Authority (GRA) will be a statutory board, and will be reconstituted from the current Casino Regulatory Authority (CRA).


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The Casino Regulatory Authority of Singapore (Abbreviation: CRA) is a statutory board of the Singapore Government. The CRA is responsible for ensuring that.


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The gaming venues of Singapore's two casino resorts are to remain shut beyond June 1, the city-state's Casino Regulatory Authority (CRA).


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The Gambling Regulatory Authority (GRA) will be a statutory board, and will be reconstituted from the current Casino Regulatory Authority (CRA).


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Casino Regulatory Authority to launch full-scale checks on casinos

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Set to be implemented by , the GRA will see the current Casino Regulatory Authority (CRA), which oversees Singapore's casinos, and the.


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Woman in MBS jackpot dispute files statement with CRA - 1Nov2011

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A casino operator is not allowed to transfer, mortgage, charge or otherwise encumber the casino licence except with the CRA's approval. Supervision and Control.


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Monetary Authority of Singapore Eases Policy, Reduces Currency Band Slope to Zero

Therefore, a casino operator is required to obtain the prior approval of the CRA before a major change relating to a casino operator occurs. A casino operator is also prohibited from receiving any money for which the purpose or ownership cannot be ascertained within seven days because they would be considered suspicious transactions. The Schedule, Controlled Contracts Regulations. Ibid , reg 4 2. The system of internal controls and administrative and accounting procedures of a casino must be approved by CRA. Ibid , reg 9 2. To mitigate the social ills of casino gambling in Singapore, it is mandatory for casinos to impose entry levies to discourage Singapore residents from gambling in the casinos. Section 93 1 , CCA. Regulation 6, Controlled Contracts Regulations. Regulation 3, Patron Dispute Regulations. Hence, a licensed junket promoter is under no statutory obligation to perform a CDD on its junket players. Ibid , reg 6. Ibid , reg 14 3. Regulation 3, Junket Regulations. Ibid , reg 2. Ibid , reg 13 2. Section 1 , CCA. Ibid , reg 5. Section 63 2 , CCA. Hence, as a general rule, a casino operator cannot allow a Singapore resident to purchase chips using a credit card. A casino operator should consider lodging a STR because of these red flags. If a casino operator is: i unable to complete the CDD measures on a patron; or ii a patron is unable or unwilling to provide the information requested or if he decides not to proceed with opening the patron account or if he decides to withdraw the cash transaction or deposit, the casino operator should not proceed with the opening of the patron account or proceed with any of the above transactions. Ibid , reg 14 1. Section 96 1 , CCA. Section 40, CCA, in dis-applying ss 5 1 and 2 of the Civil Law Act, has clarified that all wagering contracts conducted by the casinos in Singapore are legally valid and enforceable. A Category C1 Special Employee includes the dealer, cage cashier, slot attendant, casino account officer, surveillance officer and table games supervisor. The key to combating money laundering is to know your customer by performing CDD. Section 1 b , CCA. Section 3 , CCA. The CCA only permits licensed junket promoters are allowed to organise junkets for a casino in Singapore. All games played in a casino excluding gaming machines , mode of play and rules for those games must be approved by CRA. Ibid , reg 6 2. A casino promoter is not allowed to change the casino layout without the approval of CRA. Regulation 5 2 , Credit Regulations. Regulation 5, Junket Regulations. Regulation 11, Special Employees Regulations. This is the delicate balance Singapore hopes to achieve. Ibid , reg 13 1. A Special Employee must be licensed and he can only exercise the function specified in his licence. There is a group of employees employed by a casino operator to perform the key roles in the operation of a casino called Special Employees.

The Laws Governing Casinos in Singapore. This is to prevent the ownership of the casino from falling into wrong hands particularly persons with questionable or undesirable background.

As we have seen in the discussion earlier, casinos are cash-intensive businesses and cash is a favourite medium read more laundering because of the anonymity it provides to the money launderers.

Section casino regulatory authority of singapore cra 7CCA. Besides the entry levies, there are four types of exclusion orders which bar a person from entering the casino premises. Ibidreg Ibidreg 16 and Ibid reg Ibidreg 39 1. The legal framework governing the operation of casinos in Singapore is comprehensive and rigorous.

Wild jackpots appreg 12 1 2. Both of these administrative requirements are confidential to the casinos concerned, hence, they are outside the scope of this article. Hence, a casino can grant credit to a Singaporean Casino regulatory authority of singapore cra Player to gamble.

A casino operator is not allowed to enter into a Controlled Contract with any party unless it has given 28 days prior notice to CRA. Besides casino operators, a licensed junket operator is also allowed to grant credit to a non-Singapore resident for the sole purpose of qualifying him to be a Premium Player.

All these records must be kept for no less than five years. Further, if there is a change in the situation of the Associate, it is required to inform CRA within 14 days.

Help parx casino philadelphia horse racing manyreg 3 6. Section 63 4CCA. To prevent a burgeoning of casinos in Singapore, the CCA expressly limits the licensing of only two casinos for the period of 10 years from commencement of the CCA.

The legal framework regulating casinos in Singapore is now in place. These are the minors persons below 21 years.

This would include receiving cash from wire transfer without being used for gaming or cashing of cheques without gaming.

Regulation 3, Advertisement Regulations. Paragraph 1. Besides identifying and verifying the identity of the patron, a casino operator is required to identify and verify the identity of the beneficial owner of the patron account. The casinos are further regulated by various detailed Notices issued by the Casino Regulatory Authority.

However, it is necessary to know this because the money deposited into the patron account may belong to a money launderer the beneficial owner.

Regulation 11 1Gaming Equipment Regulation. Ibidreg 3 1. A Category B Special Employee includes the pit manager, slot manager, cage manager, audit manager and international marketing manager.

This should be done using reliable and independent sources eg, identity cards, passports. One of the interesting duties of a casino operator is casino regulatory authority of singapore cra it must give CRA the arrival report of a junket not less than one hour before the commencement of a junket in its casino.

Casino regulatory authority of singapore crareg 9 1. Section 63 3CCA. The same authority also issues Directions to casinos and it prescribes Internal Control Codes. The challenge ahead lies in the administration of the casinos by CRA to ensure that they operate within a controlled, healthy environment envisaged under the CCA while at the same time using the casinos to boost tourism in Singapore.

First, a casino operator may itself issue an exclusion check this out to bar a person from entering casino regulatory authority of singapore cra casino eg, patron found guilty of cheating the casino.

Besides this primary casino legislation: casinos in Singapore are governed by myriads of other casino regulatory authority of singapore cra Notices, Internal Codes and Directions. A key casino regulatory authority of singapore cra of the law governing casinos in Singapore is the rigid control over the ownership of the casino.

As we have seen in the first casino regulatory authority of singapore cra of this article, casinos are vulnerable to money laundering. A Category C2 Special Employee includes slot technician, technical support personnel for surveillance equipment, slot management systems or electronic monitoring systems.

Ibidreg 8. This will be a cause for concern for banks dealing with junket promoter customers, since banks cannot rely on the fact that the junket promoter had performed its CDD on its underlying clients. Ibidreg 14 1 2.

Hence, another tool of money laundering control used in the Casino AML Regulations is to prohibit a casino operator from allowing a patron to convert his money from one form to another without being used for gaming. Section 9 , CCA. Ibid , reg 4. There are strict advertisement rules restricting the advertisement of casinos in Singapore. Section 2 , CCA. This has been discussed in the first part of this article printed in the Singapore Law Gazette November issue. A licensed junket promoter may either be an individual or a corporation. The objectives of the CRA are to ensure that: i casinos in Singapore are free from criminal influence or exploitation; ii gaming in casinos is conducted honestly; and iii the casinos do not cause harm to minors, vulnerable persons and society at large. He uses the casino like a money changer or a bank. Regulation 3, Layout Regulations.