Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF)

In order to discourage money laundering and other misuses of gambling services, new requirements for providers of gambling and financial services in hotels (and elsewhere) came into effect on 12 December 2007.  The QHA has consulted extensively with the Federal Government about the new laws and is working with the Australian Transaction Reports and Analysis Centre (AUSTRAC) to ensure they are implemented in a sensible manner.

As of December 2007, hotels are required to introduce a program to assess risk, appoint an AML/CTF Compliance Officer, develop and maintain an AML/CTF Complinace Plan, have this plan independently reviewed annually, inform and train staff, and comply with reporting requirements (in relation to AML/CTF).

The QHA, in conjunction with the AHA and Deloittes, produced a compliance kit for members that assists businesses to meet the compliance requirement with the new obligations under the new AML/CTF legislation.  This kit includes a template AML/CTF Compliance Plan, and training packages for staff.

From 26 May 2011, smaller gaming operations with 15 or less gaming machines were made exempt from many of the reporting and compliance requirements under the AML/CTF Act.

From 2012, AUSTRAC intends to impose a supervisory levy on all reporting entities.  To assess whether a levy is payable by a business, all AUSTRAC reporting entities, including those exempt under certain provisions of the AML/CTF rules, were required to re-enrol with AUSTRAC via their website www.austrac.gov.au.  Even previously enrolled businesses with AUSTRAC, were still required to complete a new enrolment. Further information can be obtained through the AUSTRAC Helpdesk at 1300 021 037.

The AML / CTF Kits are available to members only.  Click the link below to access this information.