COMPLIANCE LAW FIRM
Specialising in advising the gambling sector on government regulation including Anti-Money Laundering and Counter-Terrorism and AUSTRAC compliance
Online AML/CTF training for gaming venues:
NEW! KYC Assist - know your customer (KYC)
Gaming Venue AML/CTF programs must include risk-based systems and controls for Ongoing Customer Due Diligence, which are ‘proactive’ (AUSTRAC guidance).
ECDD Compliance Services works with leading technology and identity verification services to add to gaming venues’ compliance toolkit without disrupting the customer experience.
For more information see our new KYC Assist website.
KYC Assist - know your customer (KYC)
Gaming Venue AML/CTF programs must include risk-based systems and controls for Ongoing Customer Due Diligence, which are ‘proactive’ (AUSTRAC guidance).
ECDD Compliance Services works with leading technology and identity verification services to add to gaming venues’ compliance toolkit without disrupting the customer experience.
services
REGULATORY ADVICE
Legal advice on AUSTRAC government regulation for Hotels, Pubs and Clubs and Casinos.
NEW AML/CTF POLICY TOOLKIT
Designed for use with AML/CTF Reform to set out the compliance program for the gaming venue or casino
AML/CTF INDEPENDENT EVALUATIONS
Independent Evaluation of your gaming venue’s AML/CTF compliance (from 2027)
AML/CTF TRAINING
Staff and Management training and Board/Committee strategy for AML/CTF compliance. Options include on-demand online training, webinars and on-site training for your business.
AUSTRAC ENGAGEMENT & EXEMPTIONS
Engagement with regulators on behalf of your business, including regarding compliance issues or to seek an exemption.
COMPLIANCE REPORTING ADVICE
Legal advice on the annual compliance report to AUSTRAC.
services
REGULATORY ADVICE
Legal advice on AUSTRAC government regulation for Pubs and Clubs, Casinos, Banks, Credit Unions, Building Societies, super funds, stockbrokers, custodians, bullion traders and crypto-currency exchanges.
NEW AML/CTF PROGRAMS
Drafting a new compliance program for your business, including a tailored risk assessment.
AML/CTF INDEPENDENT REVIEWS
Independent Review of your business’ AML/CTF compliance.
AML/CTF TRAINING
Staff and Management training and Board/Committee strategy for AML/CTF compliance. Options include an on-demand smartphone app, webinars and on-site training for your business.
AUSTRAC ENGAGEMENT & EXEMPTIONS
Engagement with regulators on behalf of your business, including regarding compliance issues or to seek an exemption.
COMPLIANCE REPORTING ADVICE
Legal advice on the annual compliance report to AUSTRAC.
PURPOSE
GOVLAW provides innovative legal and compliance advice and training to businesses on government and regulatory requirements.
We have specialist experience in Commonwealth government regulation for the gambling (including casinos and clubs and pubs), financial and bullion industries for anti-money laundering and counter-terrorism financing (AML/CTF) laws. We can assess and report on the compliance of your business units with AML/CTF legislative requirements.
We are passionate about communicating in plain language about what can often be complex regulatory environments.
NEWS
Important terms
These updates are a summary only and provided as general information for Pubs and Clubs. They do not constitute legal advice or take into account the facts and circumstances of your gaming venue.
What to do if AUSTRAC asks your Pub or Club to appoint an external auditor...
Earlier this year AUSTRAC changed the procedures around External Auditors which can be appointed to regulated businesses with gambling, such as Clubs or Pubs with gaming machines or ‘pokies’.
Where AUSTRAC finds that a Pub or Club’s compliance with the anti-money laundering and counter-terrorism financing requirements, or risk management is not sufficient, they may require the Pub or Club to appoint an ‘External Auditor’.
In the past, AUSTRAC kept a list of approved auditors on its website. This has changed, and Pubs and Clubs can now nominate an external auditor for consideration by AUSTRAC. This process involves the potential auditor providing information on their relevant expertise to AUSTRAC.
When could this be relevant for my Pub or Club?
Clubs or Pubs regulated by AUSTRAC (which offer gambling to patrons) will be aware of the headline civil penalties for non-compliance of up to $33 million under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
However, there are many other steps in compliance, which AUSTRAC can take before an issue escalates to that level. Examples include
- infringement notices (for less serious contraventions with lower fines)
- remedial directions (to take action to repair a contravention)
- court ‘enforceable undertakings’ (these have been issued against Hotels in NSW and Queensland) and
- the Club or Pub being required to appoint an ‘external auditor’.
Despite the title, an ‘external auditor’ does not need to be an ‘auditor’ in the accounting sense, but rather a professional, external to the Pub or Club with relevant expertise.
Where a Club or Pub receives enforcement related correspondence from AUSTRAC, this is a serious matter and professional advice is recommended.
Note: As originally published in the Spring Hub Magazine, Victoria, 2019, page 42.
Andrew Fernbach
Lawyer
© GOVLAW 2019
contact
OUR ADDRESS
GOVLAW
Level 2
696 Bourke Street
Melbourne VIC 3000
(By appointment only)
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