AML CTF Compliance

AML/CTF a Compliance guide for Clubs and Pubs

Read our AML/CTF compliance guide to learn what you need to do to keep your venue and its customers safe. The United Nations estimates that $800 billion-$2 trillion are laundered every year, making up 2-5% of the global GDP or gross domestic product. This money funds a range of criminal activity, including everything from small robberies …

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Know Your Customer (KYC) Requirements

ANTI-MONEY LAUNDERING PROGRAM KNOW YOUR CUSTOMER (KYC) REQUIRMENTS The Know Your Customer (KYC) rule essentially states that the Pub or Club must use reasonable effort to ensure that as much as possible is known about patrons using their gaming facilities. Gaming staff is expected to be diligent and report unusual customers and/or behavior to the …

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AML/CTF Requirements for Pubs and Clubs

AML/CTF Requirements for Pubs and Clubs • All Pubs and Clubs must have an AML/CTF Program tailored specifically for their business. • Report customers who have a high number of gaming payouts. Special consideration should be given to those customers receiving winnings by cheque over a specific period. Monitoring customer winning should be part of …

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Transaction Monitoring

ANTIMONEY LAUNDERING PROGRAM TRANSACTION MONITORING All Hotels and Clubs offering gambling services must have an Anti-Money Laundering Counter-Terrorism Program (AML/CTF) in place. A separate program is required for each gambling type. For example, separate programs are needed for TAB and Gaming Machines. A major component of the AML/CTF Program is a Transaction Monitoring Program (TMP). …

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What is an Anti-Money Laundering Program?

WHAT IS AN ANTI-MONEY LAUNDERING PROGRAM For a Pub or Club to comply with Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations, the venue must have an AML/CTF Compliance Program. An AML Program has a set of regulations and procedures that businesses offering a designated service must follow. For Pubs and Club’s the designated services will …

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COVID-19, AUSTRAC, Pubs and Clubs

AUSTRAC are constructively working with Pubs and Clubs to assist manage Money Laundering and Terrorism Financing (ML/TF) risks during this disruptive period of COVID-19. This includes considering circumstances for Pubs and Clubs when applying the Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) laws.   SMR reporting for Pubs and Clubs during COVID-19 AUSTRAC are still encouraging …

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