Partnership with AUSTRAC to support identification of gambling crime

Released 28/11/2018

The ACT Gambling and Racing Commission (GRC) and the Australian Transaction Reports and Analysis Centre (AUSTRAC) have signed a Memorandum of Understanding which will support greater cooperation between the two regulators.

AUSTRAC’s interdependent financial intelligence and regulatory functions are central to the framework established to protect Australia from money laundering, counter-terrorism and other serious financial crimes.

The agreement recognises the importance of cooperation between AUSTRAC and gambling regulators when it comes to the detection and prevention of money laundering in the gambling sector.

GRC Chief Executive Officer David Snowden said the MoU provided a framework around the GRC accessing AUSTRAC information.

“This is an important agreement which supports the GRC’s ongoing focus to reduce gambling harm in our community. This includes the reduction of gambling being used as a tool for criminals to launder funds,” he said.

“With the increasing sophistication of gambling platforms it is important that we work closely with agencies such as AUSTRAC to support local and global efforts to reduce money laundering through gambling. We are pleased to support this work now and into the future.”

AUSTRAC CEO Nicole Rose PSM said combatting financial crime required a united effort across Government and industry and this latest agreement represented a further hardening of Australia’s financial system against criminal abuse.

“We welcome the support of local jurisdictions when it comes to assisting our anti-money laundering efforts and we thank the ACT GRC for their cooperation and look forward to working with them into the future,” Ms Rose said.

- Statement ends -

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