New CEO Brendan Thomas says “massive” clubs that rival Sydney’s Star casino and host three in four of the states pokies pose a “significant risk”.
The financial crime watchdog will target the estimated $70 billion fed into poker machines in NSW clubs each year, in its latest salvo designed toThree in four of the almost 90,000 pokies in NSW are in clubs, many of which are “massive” and rival Sydney’s Star casino, new AUSTRAC chief executive Brendan Thomas said.
“We’ve had work done by the NSW Crime Commission that’s talked about the risk exposure of clubs and gaming to money laundering and organised crime. The move against NSW clubs comes after AUSTRAC whacked the country’s biggest casino operators with a series of high-profile lawsuits over the past three years.
Australia captures banks, gambling companies and gold traders under its existing money laundering laws, but is one of five countries in the world that do not regulate what are known as tranche-two entities. Mr Thomas dismissed such concerns and said without a strengthened regime to counter financial crime, Australia was not only leaving the door open to local criminality, it was providing a gateway into the global financial system.
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