AUSTRAC warns gambling operators over AML controls before reforms
AUSTRAC chief executive Brendan Thomas warned gambling operators about anti-money laundering control gaps at the Regulating the Game conference in Sydney, according to the report. The updated AML/CTF Act is due to take effect on 31 March, adding duties for covered businesses; AUSTRAC said it plans a practical transition period.
Operators covered by the reforms need to address the control weaknesses and new duties described by AUSTRAC.