Bookmakers may be vulnerable to ML/TF, but your business doesn't have to be

Whether you're a corporate bookmaker, an online gaming business, or provide wagering to your customers, your business attracts a lot of unnecessary attention. This is because criminals, money launderers and people who finance terrorism may see your business as a soft target, even though you do everything by the book. That's why AUSTRAC and legislators have put in place controls to make sure your business isn’t vulnerable.

The anti-money laundering and counter-terrorism financing (AML/CTF) laws are designed to help protect you. But the devil is in the detail, which is why it's good to have someone with expertise and experience on your side.

You can make it easy for your customers while still complying with the law

Under the AML/CTF laws there are many things that your business must do to comply. Sometimes, it may feel like all the compliance gets in the way of your business. We can help you protect your business and the reputation that you've worked so hard to build while making sure your customer’s experience is top of mind. We have helped companies like yours:

  • Put in place robust Know Your Customer processes. We know how important it is to help you sign up customers quickly and easily. We can help you do this while making sure that you still meet the AML Rules requirements and AUSTRAC’s exacting expectations.
  • Simplify processes with electronic verification. Verifying customer documents can be time-consuming. We can help you implement an electronic verification system that will save you time and give you peace of mind.
  • Improve due diligence procedures. Sometimes you come across a customer that may attract AUSTRAC’s attention. We can help you put in place procedures that will make sure you know how to deal with this situation and conduct the appropriate level of due diligence to make sure your business is not at risk.
  • Set up transaction monitoring programs. With the right processes in place, you can be sure that you identify any risky transactions as they occur.
  • Report to AUSTRAC. It’s important to report any suspicious or fraudulent transactions to AUSTRAC promptly. We can help you do this by putting in place systems that identify risks as they occur.

Protect your reputation with AML Experts

Your reputation is one of your most valuable assets. We have the expertise and experience to help you protect your reputation and give your management peace of mind. We have:

  • Worked with some of Australia’s largest corporate bookmakers including Lottoland, SportingBet Australia / William Hill, and Sportsbet Australia
  • Extensive experience in identifying and understanding the AML/CTF risks that corporate bookmakers face every day
  • Deployed electronic verification processes for corporate bookmakers, so we know what works and what doesn’t