Earlier this year, Federal Parliament passed a bill, which has been around for a very long time, that is making a fundamental change to how the Privacy Act operates.
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Do not be fooled, the Clubs and Pubs industry is not invisible to AUSTRAC’s eyeline. Over the past year, AUSTRAC has conducted a National Pubs and Clubs Campaign and engaged 150 Pubs and Clubs.
See the latest tender notification for the authorised sale of gaming entitlements for Clubs here.
The black economy is becoming a larger focus to the Australian Government and there are implications to Clubs’ and Hotels’ AML/CTF compliance and obligations. So how does this affect your venue?
Having reviewed and re-written many constitutions now, we have determined the best six features that we’ve seen.
Tabcorp was fined the highest civil penalty in Australian corporate history, $45 million, for the breach of money laundering and terrorism financing laws as a result of a civil action launched by Australian Transaction Reports and Analysis Centre (AUSTRAC).
The Christmas decorations have come down, the New Year celebrations are over and Australia Day is a distant memory, it’s time to take some relaxation time… Sorry to be the bearer of bad news, but with March comes the deadline for your AUSTRAC report.
It’s clear that boards can no longer claim to be ‘hands off’ and therefore not responsible for the major operational events of the organisation. More and more, courts and regulators are saying that the board must know what is occurring at the operational level.
As you are all aware, from the 1st February 2017 you may well be required to manage a ‘lock out’ provision at your venue. While there has been considerable media comment, it is best that you prepare and be ready to comply.