Now it’s the pubs and clubs turn…
First the casinos were in the firing line from the Anti Money Laundering regulator AUSTRAC, with findings of disregard for their obligations to comply with AML/CTF regulations. Now AUSTRAC is contacting pubs and clubs across Australia wanting details and evidence of their systems, policies and procedures pertaining to AML/CTF compliance.
Knowing what your legal obligation is isn’t enough.
Can you answer the following questions?
- How well do you know your patrons?
- From where do your patrons get the money to gamble on your gaming machines?
- When was the last time you banned a patron for suspicious behaviour or being “high risk”?
- What is Enhanced Customer Due Diligence and when did you last do it?
- How well do your staff know their roles in preventing money laundering at your venue?
- What is your system for reporting AML/CTF matters to your directors?
- When was the last time your venue had an independent review of your AML/CTF Program and systems?
- Was the review truly independent?
And now, it is not only the official regulator asking these questions.
It is becoming more common for your bank and business insurance company to want answers to those questions. If you can’t provide the responses they want, they may ask you to find another bank or insurer.
However, there are cost-effective ways for you to streamline compliance with your regulatory obligations that don’t bury you under time-consuming red tape or paperwork.
Gamesure services include:
- AML/CTF programs
- Risk Assessments
- AML training
- Comprehensive AML/CTF independent reviews
The Leigh Barrett & Associates division, Gamesure would welcome the opportunity to discuss these with you, either by visiting us the Australasian Gaming Expo in August (Stand 331) or making prior contact with us at