IMPORTANT NOTICE: A Declared State of Disaster is currently in place across Victoria. For more information, see: COVID-19 information for licensees
The Australian Transaction Reports and Analysis Centre (AUSTRAC) is Australia’s financial intelligence unit and its anti-money laundering and counter-terrorism financing regulator.
AUSTRAC have released information and resources to help protect pubs and clubs from money laundering.
While there may be a perception that money laundering is a victimless crime, the reality could not be further from the truth. Criminals profit from money laundering and use it to fund criminal activity.
Money laundering legitimises the funds that criminals make through crimes like drug and weapons trafficking, child exploitation and illegal firearms sales. These crimes harm our communities.
By making your business resilient to money laundering, you are playing an important part in protecting your community from serious criminal activity.
Identifying and reporting suspicious behaviour
It’s important that your staff know how to identify suspicious behaviour. There are tell-tale signs that a customer could be using your gaming machines to launder money. This could include putting large amounts of money into a machine and then cashing out after a few plays, or trying to buy other patrons cash-out tickets for cash.
AUSTRAC, Australia’s anti-money laundering intelligence agency, has created posters to help your staff identify potential money laundering activity in your gaming room. These posters provide your staff with tips on how to identify suspicious activity, which you can then report to AUSTRAC by submitting a suspicious matter report (SMR).
Submitting an SMR does not reflect poorly on your business, in fact it shows that you are vigilant and looking to protect your business and your community from criminal activity. The greater risk is for your staff to see something suspicious and not speak up, allowing criminals to launder the proceeds of their crimes undetected.
By remaining alert, you are protecting your business, your customers and your community from crime.
Find more information on how to protect your business from money laundering, and download your copy of the posters from the AUSTRAC website.