New Resources for AML & CTF Compliance

May 16, 2023
Clyde Mooney

AUSTRAC has furthered its initiatives to help club and pub operators stay aware of AML and CTF issues, releasing a cache of new information and video resources.

All clubs and pubs operating EGMs are required to provide AML/CTF risk awareness training to staff, to help minimise the chance of the business being used to support criminal activity.

Last year AUSTRAC began a national education campaign to help operators understand their anti-money laundering (AML) and counter-terrorism financing (CTF) obligations. This reached over a thousand venues, addressing specific questions and sharing tips on how to identify and report dubious customer behaviour.

The program has resulted in a significant increase in suspicious matter reports (SMRs), which the agency says has been critical in helping detect, deter and disrupt criminal activity.

As part of its ongoing efforts, last week new and updated resources were released, to further assist operators work with AUSTRAC. These include:

Suspicious activity indicators train staff to be on the lookout for what could be part of unlawful behaviour, such as attempts to buy winning tickets from other patrons, asking for cheques or deposits in a different name, avoiding identification, or depositing large sums into machines but playing little.

AUSTRAC says if suspicious activity is identified someone should conduct enhanced customer due diligence in line with the venue’s AML/CTF program, and if they suspect a customer or transaction is linked to a crime, they are required to submit to AUSTRAC a suspicious matter report.

The new and revised resources do not replace a venue’s regular AML/CTF risk-awareness training, but can be used to help fulfil requirements, and in combination with existing learning materials such as the ALM/CTF e-learning modules and guidance resources.

For more information, see AUSTRAC’s guidance resources for pubs and clubs.


AML Compliance, AUSTRAC, CTF Compliance

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