AUSTRAC has recently issued a statement regarding a forthcoming crackdown on compliance within the gambling sector, specifically targeting pubs and clubs that provide pokie machines. This heightened scrutiny aims to ensure that these venues adhere strictly to Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) regulations, and stems from recent high-profile cases revealing systemic non-compliance in the gambling industry.

Anti-money laundering (AML) typologies are important tools to help in the ongoing battle against financial crime. Financial institutions and law enforcement agencies can detect, disrupt, and deter these illegal activities better by identifying the patterns and behaviours a

Australian pubs and clubs are coming under increasing scrutiny following the release of the Project Islington report in October last year. The joint law enforcement agency inquiry led by the NSW Crime Commission reported that criminals were gambling their proceeds of crime through poker machines.

Independent AML review of your AML/CTF program is to give an objective assessment of whether you’re complying with your program.

The causes and methods of terrorism are unquestionably complex and multi-dimensional, as are the means of laundering illicitly sourced money. By identifying ML and TF Typologies and assessing global industry trends, one can structure impactful methods of countering these crimes. However, carrying this out effectively is riddled with challenges which we will discuss in the following paragraphs. 

Explore Our Comprehensive Guide on Spotting Money Laundering Red Flags. Learn to Protect Business or Finances by Understanding Suspicious Activities and Staying One Step Ahead of Financial Crime.

Explore Money Laundering Typologies With One AML—Shell Companies, Foreign Bank Accounts, Predicate Offenses, and More. Learn Detection and Prevention Strategies. Stay Informed, Stay Secure.

A new bill is being passed by the Australian government which will introduce new measures aimed at strengthening Australia’s Anti Money Laundering and Counter-Terrorism Financing Framework.