Anti-Money Laundering and Counter Terrorism Financing
Despite their low-risk profile, clubs take their obligations to prevent money laundering and terrorism financing very seriously.
Preventing money laundering
Under Australian law, clubs that operate gaming machines are required to identify, mitigate, and manage the money laundering and terrorism financing risks that may arise from providing these services.
Clubs Australia supports the objectives of the Government in protecting the Australian community from the social and economic impacts of organised crime, and is committed to working collaboratively with Government to ensure our venues maintain robust anti-money laundering programs. Clubs Australia is a member of AUSTRAC’s Gambling Consultative Forum and regularly meets with the Authority to review and assess compliance risks.
The club industry's risk profile for money laundering and terrorist financing activities is considered to be low. This is because many of the characteristics that lead to vulnerabilities in other sectors do not apply to clubs.
The regulatory framework applicable to clubs should therefore strike the correct balance between reflecting the needs of the law enforcement and intelligence communities and simplifying compliance obligations for clubs.
Resources for clubs
Clubs Australia has compiled a simplified compliance kit and checklist for clubs to assist venues to meet their anti-money laundering/ counter-terrorism financing obligations. For your copy, please contact your local state or territory association.