Aspects of Australia’s gaming and wagering sectors are identified as being attractive to criminals wanting to launder the proceeds of crime and to finance terrorism.

 

Choose your industry sector to find out why it is covered by AML/CTF regulations in Australia.

What is a risk based AML/CTF Regime?

The AML/CTF regime is risk-based, which means that your responses to the AML/CTF obligations placed upon you should be risk-based.

A risk-based AML/CTF regime requires that you understand and address the Money Laundering and Terrorism Financing (ML/TF) risks associated with the services you offer.

You must then design, implement and maintain systems, procedures and controls that appropriately manage and mitigate your ML/TF risks.

The Gambling Sector AML/CTF Obligations

Businesses involved in the gambling sector captured by the AML/CTF obligations must ensure the organisation conducts a comprehensive ML/TF risk assessment to identify, assess, mitigate and manage ML/TF risk exposures. This is a critical first step in complying with AML/CTF laws.

Gambling sector businesses then need to develop and maintain an AML/CTF Program that is aligned to their business and the State based gaming requirements.

What Are The ML/TF Risks Faced By Bookmakers

Bookmakers and betting agencies are attractive to criminals wanting to launder the proceeds of crime.

Bookmakers are vulnerable to money laundering activities for various reasons, such as ease of access, anonymity, and high volume of cash transactions.

Bookmakers may also have become more attractive to criminals over the past few years as the financial sector has implemented more comprehensive AML/CTF measures with a focus on cash

What Are The ML/TF Risks Faced By Casinos

Casino and gaming machine venues are attractive to criminals wanting to launder the proceeds of crime.

Casino and gaming machine venues are vulnerable to money laundering activities as many casinos and gaming facilities offer services similar to financial institutions, including accounts, foreign exchange, money changing, and electronic funds transfers.

Casinos may also have become more attractive to criminals over the past few years as the financial sector has implemented comprehensive AML/CTF measures.

What Are The ML/TF Risks Faced By Gaming Machine Venues

Gaming machine venues such as pubs and clubs are vulnerable to being used by criminals to launder the proceeds of crime

Gaming machine venues handle significant quantities of cash and support the conversion of cash into cheques and electronic funds transfers, thereby potentially concealing the illicit origin of funds.

Gaming machine venues may also have become more attractive to criminals over the past few years as the financial sector has implemented more comprehensive AML/CTF measures with a focus on cash.

How can Initialism Help?

Initialism are the AML/CTF experts, so you don’t have to be.

With over 30 years of expert knowledge and real world experience, our AML/CTF compliance solutions will to help you navigate your legal and regulatory requirements so that your business complies with its AML/CTF obligations in the fastest and most cost-effective way.

Initialism has a range of AML/CTF solutions to support your business in becoming AML/CTF compliant and maintaining compliance:

Our solutions allow you to tailor support based on your capacity, experience and budget.

Initialism can also provide training and advisor AML/CTF solutions that can help your business achieve and maintain AML/CTF compliance:

  • AML Coach – AML/CTF Officer Training to understand your obligations
  • AML Counsel – Advice and support to implement AML/CTF in your business

AML/CTF compliance solutions for
your gambling business

From self-guided to fully dedicated support, our AML/CTF compliance solutions draw on unparalleled expertise, knowledge and real-world experience. Click below to discover which of our AML/CTF compliance solutions is right for your business.
  • A streamlined, self guided online solution to meeting your AML/CTF obligations.
  • Most flexible compliance solution
  • Self guided online delivery
  • Online guidance at every step
  • Compliance at your own pace
  • Comprehensive ML/TF risk assessment
  • Compliant AML/CTF Program documentation
  • Ongoing AML/CTF compliance and notifications
  • 12 month licence to Australia's leading online AML/CTF compliance solution
  • $4,995*
POPULAR
  • A highly interactive workshop delivering fast and easy AML/CTF compliance in one day.
  • Fastest compliance solution
  • Face to face one-day workshop
  • Detailed AML/CTF training
  • Compliance in one day
  • Comprehensive ML/TF risk assessment
  • Compliant AML/CTF Program documentation
  • Ongoing AML/CTF compliance and support
  • Includes a 12 month licence to Australia's leading online AML/CTF compliance solution
  • $5,995*
  • One to one support from our experts to assist you in achieving AML/CTF compliance.
  • Most customised compliance solution
  • Dedicated one-to-one support
  • Tailored AML/CTF briefing
  • Compliance as quickly as required
  • Comprehensive ML/TF risk assessment
  • Compliant AML/CTF Program documentation
  • Ongoing AML/CTF compliance and support
  • Includes a 12 month licence to Australia's online leading AML/CTF compliance solution
  • From $6,995*

UNSURE OF THE BEST SOLUTION FOR YOUR BUSINESS?

  • Training based on 30 years of expert knowledge and real-world experience of AML/CTF
  • Comprehensive training for AML/CTF Compliance Officer
  • One day targeted access to experts in face to face workshop environment
  • Understand what AML/CTF really means for your business
  • Get the tools to achieve and maintain AML/CTF compliance
  • Understand if you are achieving AML/CTF compliance
  • Facilitates open discussion of AML/CTF compliance issues with peers
  • Facilitates open discussion of AML/CTF compliance issues with peers
  • A cost-effective way to receive expert training
  • $575*
  • A modular approach that puts you in control of the AML/CTF independent review process
  • Choose to the scope of review
  • Commission a review of the program’s alignment to the AML/CTF Rules
  • Commission testing of compliance with an AML/CTF program
  • Commission a full independent review required by the AML/CTF Rules
  • Receive a comprehensive report on findings and recommendations
  • Understand if you are achieving AML/CTF compliance
  • Actionable outcomes tailored to your business
  • A cost-effective way to undertake a review
  • From $1,500*
  • Benefit from over 30 years of AML/CTF expert knowledge and experience
  • On tap access to expert AML/CTF advice and support
  • Expert support when you need it
  • The support you need in a way that makes sense for your business
  • Expertise in all areas of AML/CTF compliance and risk management
  • Competitive hourly and daily rates
  • Competitive fixed fees available
  • Support packages at discounted rates
  • A cost-effective way to receive expert support
  • On Application

*$AUD excl. GST

Why chose Initialism?

UNPARALELLED EXPERTISE

Our expertise covers all AML/CTF disciplines and brings unique perspectives, approaches and solutions to the AML/CTF challenges faced by Australian businesses

IN-DEPTH INDUSTRY KNOWLEDGE

Our AML/CTF compliance knowledge includes working with many types of Australian businesses and we understand what compliance means for your business

REAL WORLD PERSPECTIVES

We have experience in delivering workable AML/CTF compliance to many industry sectors, each with their own unique challenges

OVER 30 YEARS EXPERIENCE

Our knowledge and expertise has been hard earned and comes from working in the area of AML/CTF for many decades

SOLUTIONS THAT WORK

We have experience in providing tried and tested AML/CTF solutions, regardless of the size and complexity of your business

TAILORED FOR YOUR BUSINESS

Our AML/CTF compliance solutions are flexible and can be tailored to your capacity, experience and budget

WHAT OUR CLIENTS SAY

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