AUSTRAC

FINANCIAL WATCHDOG CHASING ENTAIN

Posted on February 19th, 2025 by Clyde Mooney
Online and hospitality bet-maker Entain P/L is shaking things up, as it’s pursued in the Federal Court by Australia’s financial watchdog AUSTRAC.   After two years investigating, AUSTRAC (the Australian Transaction Reports and Analysis Centre) commenced civil penalty proceedings in

AUSTRAC’s SPOTLIGHT ON VENUES IN 2024

Posted on April 24th, 2024 by Clyde Mooney
Under new leadership, financial crimes watchdog AUSTRAC has renewed its money laundering focus on gaming venues, noting the “billions” it believes is fed into machines by criminals. Responsible for preventing, detecting and responding to criminal abuse of the financial system,

NEW RESOURCES FOR AML & CTF COMPLIANCE

Posted on April 26th, 2023 by Clyde Mooney
AUSTRAC has furthered its initiatives to help pub operators stay aware of AML and CTF issues, releasing a cache of new information and video resources. All pubs and clubs operating EGMs are required to provide AML/CTF risk awareness training to

AUSTRAC COMPLIANCE DEADLINE EXTENDED

Posted on April 3rd, 2020 by Clyde Mooney
AUSTRAC has agreed to extend the deadline for AML and CTF compliance reporting until 30 June. Following lobbying from hospitality compliance entity Leigh Barrett & Associates, the Australian Transaction Reports & Analysis Centre (AUSTRAC) has recognised many gaming venues are

ACCUSATIONS MONEY LAUNDERING RIFE IN PUBS AND CLUBS

Posted on February 14th, 2020 by Clyde Mooney
An expose by the ABC cites an industry whistleblower’s revelations about AML practices in gaming venues, and accusation by MP Andrew Wilkie that over 90 per cent are not compliant. The ABC and 4Corners report centres on a former employee

NEW AML AND CTF RESOURCES FOR GAMING PUBS

Posted on October 4th, 2019 by Clyde Mooney
Financial intelligence agency AUSTRAC has produced new products for pubs and clubs with gaming, highlighting the risks of money laundering and financial crimes. The agency’s powers and approach have been strengthened since the Hayne royal commission, and it has recorded

NEW AUSTRAC GUIDELINES AFFECTING PUBS

Posted on April 30th, 2018 by Jane Louise
New regulations require licensed gaming venues to amend their Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) reporting or risk severe penalties. AUSTRAC requirements have been in place for pubs and clubs holding more than 15 gaming machines for some time,

AUSTRAC INCREASING FOCUS ON MONEY LAUNDERING IN HOTEL SECTOR

Posted on November 20th, 2017 by Clyde Mooney
Recent activity by AUSTRAC (Australia's financial intelligence agency, governing anti-money laundering and counter-terrorism financing) is believed to be part of plans for increased reporting by hospitality operators, says consultant firm Risk Training Australia.   [caption id="attachment_11771" align="alignright" width="138"] Phillippa Lloyd[/caption]