Gambling reforms and ATM limits

The National Gambling Reform Bill 2012 and associated Bills have been introduced into the House of Representatives.

The Bills require:
• new machines manufactured or imported from end of 2013 be capable
of supporting precommitment;
• all gaming machines are part of a state-wide precommitment system,
and display electronic warnings, by 2016, with longer implementation
timelines for small venues; and
• a $250 a day ATM withdrawal limit for gaming venues (other than
casinos).

The ATM withdrawal limit will apply on and after 1 May 2013 in relation to any automatic teller machine that is on any gaming machine premises, except casinos.

The Anti-Money Laundering Amendment (Gaming Machine Venues) Bill 2012 has been introduced in response to concerns from AUSTRAC about money laundering through gambling.

The bill aims to address these practices through requiring that payouts over $1,000 are made by cheque and are ‘threshold transactions’ under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 . The bill also requires that any cheques for winnings that are transferred into another name are also threshold transactions.

The Joint Select Committee on Gambling Reform has a new inquiry into the Bill.

 

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