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). …
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 …
AUSTRAC Compliance Reporting period is approaching, and it’s time to start thinking about conducting an independent annual review. Who needs to report? Compliance Reporting is required for: Venues that are licensed for 16 or more electronic gaming machines, who do not provide any other designated services. Member of a designated business group (DBG) What is …
