- money laundering /MUHN-ee LAWN-der-ing/
- cavalier /kav-uh-LEER/
- junket /JUHNG-kit/
- revoke /ri-VOHK/
- overhaul /oh-ver-HAWL/
[noun] – the crime of moving money that has been obtained illegally through banks and other businesses to make it seem as if the money has been obtained legally
According to reports, some transactions involved money laundering.
[adjective] – not serious or caring enough about matters that other people are serious about
The company’s president treated the issues of the workforce with a cavalier attitude.
[noun] – a trip or party for a group of employees or politicians that is paid for by their company or government
The politicians are facing harsh criticism after their junket was reported in different media outlets.
[verb] – to say officially that an agreement, permission, a law, etc. is no longer in effect
The Board may revoke any bank’s license to accept deposits.
[verb] – to completely change a system so that it works more effectively
The tax code has been completely overhauled.
The fine imposed on Monday, October 17, is the maximum allowed. However, the New South Wales Independent Casino Commission refrained from completely revoking the gaming corporation’s license to protect thousands from losing their jobs. The casino will continue to run under the terms of the suspension, with management chosen by the regulator. According to Mr. Crawford, beginning on Friday, October 21, the business would not be able to manage the casino independently until it could “earn” its license back. Australian casino operators have come under intense pressure to overhaul their gambling operations following accusations of extensive criminal activity. In recent years, media investigations have published charges of wrongdoing at numerous casinos in Australia, including those owned by Crown Resorts, the nation’s largest gaming and entertainment company.
- What saving goals do you have?
- “Money doesn’t grow on trees.” What does this mean to you?
- If you were one of the regulators, would you completely revoke the corporation’s license? Why or why not?
- Do you think the corporation will earn back the public’s trust?
- What must the casino commission do to make sure the employees will not lose their jobs?
- fine (verb)