By Clyde Mooney

Under new rules laid out by the Anti-Money-Laundering and Counter-Terrorism Financing laws, all venues with gaming machines must enrol with Austrac before November 28.

The aim is to create a more accurate understanding of the regulated population for Austrac.

This is particularly important for identifying the entities subject to the annual supervisory cost recovery levy, and the amount of the levy to be applied to each entity.

“Recently Austrac announced changes whereby venues with 15 machines or less no longer have to comply with certain parts of the AML/CTF Act, but these venues are not exempt from enrolling,” says Paul Mulligan, general manager of Risk Consultants Australia.

Mulligan advises that this includes entities that are already registered with the Regulator.

Enrolment commences on November 1, and must be done by November 28 this year or within 28 days of commencing gaming services.

Registration is completed by logging into Austrac.

For more information, click here.

The Shout Team

The leading online news service for Australia's beer, wine, spirits and hospitality industries.

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