Modifying the Betting Landscape: NSW Crime Commission's Eight-Point Plan
Crime-Fighting Strategies for Combating Criminal Activities within the EMG Sector, as Revealed by the NSW Crime Commission
Got a bone to pick about gambling? Well, the NSW Crime Commission (NSWCC) has got it too. They've put forward eight strategies to tighten the reins on the betting industry, especially focusing on cashless gaming and improved data collection mechanisms.
Cashless Casinos and Data: A Double-Edged Sword
Cashless gaming cards have already stirred up a fuss in various corners. But for good reason: they can give the authorities the power to track every financial transaction, resulting in real-time monitoring of gambling across authorized venues in NSW.
It also offers assurance for self-excluded and vulnerable gamblers, ensuring timely help in a state that's recently seen major shakeups, like the poor performances of the Star Entertainment Group and Crown Resorts.
Nonetheless, Michael Barnes, the NSW crime commissioner, believes there's still room for improvement. Citing current operations, he talked about how crooks can easily pour the proceeds of their crimes into poker machines without raising alarms. He also pointed out that improved data collection is crucial to help the commission identify criminal activity at electronic gaming machines.
According to Barnes, there are two main schemes running rampant at EGMs across the state. One involves criminals pumping money into the machines and then pulling it out smugly, hiding the source of the funds. The other is the usage of "funny money" for gambling. Either way, Barnes issued a warning—both activities are happening, and the commission could use a legislative boost to curb them.
EGMs: Criminals' Cloaking Cloak
Despite the slow popularity of laundering money via EGMs, large sums of "funny money" have reportedly been wagered at various pubs and clubs in New South Wales. To Barnes' dismay, owners and players often remain oblivious to the questionable activities happening right under their noses. He slammed the current state of affairs and declared it unacceptable.
Despite living in an almost entirely cashless digital economy, gambling in NSW pubs and clubs continues to be a $95-billion-a-year information black hole. Enough is enough.
To address these issues, the NSWCC has suggested various recommendations, such as:
- Improved AML/CTF training
- Exclusion of criminals from venues
- A range of additional proposals
Cashless gaming may be a great first step. According to Barnes, basic reforms like these will pave the way for substantial changes to the industry.
The investigation into the EGMs sector was carried out by the NSWCC along with other regulators, including the NSW ILGA, AUSTRAC, and the ACIC.
In-the-know Insights:
The NSW Crime Commission advocates for the implementation of robust Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) controls, customer due diligence, and enhanced due diligence procedures[5].The commission supports the introduction of cashless gambling cards with binding limits, aiming to curb gambling harm and illicit cash flows[1].Cashless gaming would help in real-time data collection and oversight, aiding regulators to monitor wagering patterns, detect suspicious activity, and curb problem gambling and potential money laundering[1][2].
- The NSW Crime Commission (NSWCC) has proposed eight strategies to enhance regulations in the gambling industry, particularly focusing on cashless gaming and improved data collection mechanisms.
- Cashless gaming cards, already causing controversy, offer the potential for real-time monitoring of gambling transactions in authorized venues across NSW, providing assurance for self-excluded and vulnerable gamblers.
- Michael Barnes, the NSW crime commissioner, believes that improving data collection is crucial to help the commission identify criminal activity at electronic gaming machines (EGMs) and curb money laundering trends.
- Crooks have been found to exploit EGMs by pouring the proceeds of their crimes into poker machines anonymously, and using "funny money" for gambling.
- The NSWCC has suggested various reforms to address these issues, including improved Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) training, exclusion of criminals from venues, and the introduction of cashless gambling cards with binding limits.
- The NSWCC, working with other regulators, conducted an investigation into the EGMs sector, and the commission's findings have been categorized under general news and crime-and-justice topics.
