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Large New Zealandese Bank Sued Over Casino Fraud

Jun 15, 2012

casinofraudinNZjune153  Large New Zealandese Bank Sued Over Casino Fraud
Casino Fraud

New Zealandese gambling regulators worry the access to cash machines at land-based casinos leads to gambling problems.

That’s one issue. The other one is the recent fraud when nearly 3 million New Zealandese dollars were stolen by a deranged gambler as the Asia Pacific casino news report.

The Bank of New Zealand has its casino branch opened for 15 hours a day, 7 days a week. It is based in the casino lobby, allowing the gamblers to perform financial transactions, while attracting tourists to exchange foreign currency.

This location has been targeted by casino fraudster who, over a period of several months, stole few million by writing fraudulent checks and cashing them at the casino branch to gamble. It is not clear yet whether the money was used for blackjack betting or other games. What is clear is that the person used employer’s account without authorized access.

All while no one at the branch raised any concerns. Now the bank is being sued by the company who’s employee cashed the checks.

Land-based casinos aren’t the only place where problem gamblers who steal money make their bets. The online and mobile casinos also face fraud. While better detection systems are now used, the crooks find new ways to steal.

What worries casinos is that anti-fraud measures, combined with anti-problem gambling activities, may restrict access to cash at casino sites, lowering betting amounts.


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