AML/CTF

ANTI-MONEY LAUNDERING / COUNTER TERRORISM FINANCING

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AML/CTF

ARE YOU COMPLIANT?

Why you need an AML Program

Clubs with 16 or more EGMs are a ‘Reporting Entity’ under AUSTRAC Rules.

The Anti-Money Laundering/Counter Terrorisim Financing Act 2006 (AML/CTF Act) prohibits a club from allowing people to play a game on a gaming machine unless the club has an AML/CTF program approved by the directors in place.

What is a ‘Reporting Entity’

An entity that provides any designated services listed under section 6 of the AML/CTF Act. These entities generally provide financial, gambling, bullion or digital currency exchange services. All reporting entities must meet obligations under the AML/CTF Act.

Penalties for Non-Compliance

The maximum penalty for a club is $21 million per breach. The maximum penalty for an individual (including directors and senior management of clubs) is $4.2 million per breach. These are significant amounts of money, and directors and officers should be aware that they are not covered by insurance for these types of penalties.

Our Services

Barringtons AML/CTF Services for Clubs include the following:

Develop an AML/CTF Program for your venue
Provide an AML/CTF Risk Assessment for your venue
Facilitate regular independent review of your AML/CTF Program
Provide advice and assistance in implementing your AML/CTF Program
Online AML/CTF risk awareness training program for your staff
Online training program for your designated compliance officer to understand their obligations in this role

MAKE AN ENQUIRY

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BEST PEOPLE. BEST PRACTICE. BEST CHOICE.

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BEST PEOPLE

Our people are the reason we continue to be successful, and their efforts are the reason we keep growing. Their commitment to providing professional, ethical and efficient service strengthens the Barringtons brand across industries.

BEST PRACTICE

Because we supply a diverse service offering across some of Australia's biggest industries, Barringtons are often benchmarked against much larger companies. Despite this, we are used to setting the standard by which our competitors are judged.

BEST PEOPLE

We want the Barringtons brand to represent the best choice across a variety of services and industry specialisations. By building a reputation for providing quality services, we will continue to satisfy our clients.

AML/CTF

AML/CTF

MAKE AN ENQUIRY

BEST PEOPLE. BEST PRACTICE. BEST CHOICE.

BEST PEOPLE

Our people are the reason we continue to be successful, and their efforts are the reason we keep growing. Their commitment to providing professional, ethical and efficient service strengthens the Barringtons brand across industries.

BEST PRACTICE

Because we supply a diverse service offering across some of Australia's biggest industries, Barringtons are often benchmarked against much larger companies. Despite this, we are used to setting the standard by which our competitors are judged.

BEST PEOPLE

We want the Barringtons brand to represent the best choice across a variety of services and industry specialisations. By building a reputation for providing quality services, we will continue to satisfy our clients.

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