Australia could punish gambling operators for stolen funds gambling

Australia could introduce new legislation to ensure operators are held accountable if customers are found to have gambled with illegally sourced funds.

Independent MP Andrew Wilkie has introduced a bill to parliament, which would see operators made liable for allowing customers to bet with stolen monies.

Under the bill, operators would be ordered to compensate the victim of the original crime.

The bill would require operators to report any suspicious behaviour regarding stolen funds to the Australian Transaction Reports and Analysis Centre (AUSTRAC) – the country’s financial intelligence agency.

The ‘Making Gambling Businesses Accountable’ bill will act as an amendment of the current Anti-Money Laundering and Counter-Terrorism Financing Act.

Wilkie said the disparity between those punished for gambling with stolen funds and the facilitating operators which escape without penalties needed addressing.

Wilkie said: “We must have a legal mechanism in place that ensures stolen money is returned to victims by gambling companies if the gambling companies are ordered to do so by a court of law.

“Gambling companies cannot be allowed to profit from the proceeds of crime,” he added.