Anti Money Laundering

It is an integral goverbance capability for all gaming clubs to meet their Anti Money Laundering obligations. The following links will assits clubs maintian their obligations and it further information is required then please contact the Code Offcie on 1300 787 852.

The AML/CTF Act was passed by the Federal Government in December 2006. The primary purpose of the Act is to ensure that Australia fulfils its international obligations by addressing matters of international concern including the need to combat money laundering and financing of terrorism. As well as international concerns, the Act also addresses the risks of local criminals laundering their illegal income. For clubs, the major purpose of the Act is to make it difficult for criminals such as tax avoiders, drug dealers, counterfeiters, etc (as well as international terrorists) to use our wagering facilities and gaming machines to provide a legitimate reason to have money that would otherwise be inexplicable.

Over time the requirements of the AML/CTF Act will replace those of the Financial Transactions Reports Act which currently deals with reporting of cash transactions over $10,000 and suspicious cash transactions. The AML/CTF Act applies to cash and non-cash transactions.