| Independent Member for Clark, Andrew Wilkie, introduced his Anti-Money Laundering and Counter-Terrorism Financing Amendment (Making Gambling Businesses Accountable) Bill 2024, which would require gambling companies to return money that was originally the proceeds of crime to the victims of that crime. Mr Wilkie’s Bill is part of a national campaign by independent politicians to introduce laws in parliaments across Australia, which would return stolen money to victims of gambling-related crimes. Similar bills are being introduced by Helen Dalton MP in New South Wales and Kristie Johnston MP in Tasmania. Discussions are also occurring with independents in South Australia and the Northern Territory. “My Bill puts a positive obligation on gambling companies to report to AUSTRAC if they have reason to suspect a person is paying for a gambling service with money they’ve obtained illegally,” Mr Wilkie said. “It also enables the Federal Court to order a gambling company to return stolen funds, where it’s found that a bettor has paid for a gambling service using funds they obtained illegally. “This Bill was developed in consultation with Gavin Fineff, a former financial advisor who lost $3.3 million of his clients’ money through gambling. Gavin understands that he did the wrong thing and is now in jail. However, he is not the only one to blame. Indeed, Gavin was targeted by three of the country’s largest online betting agencies – Tabcorp, Ladbrokes and BetEasy – whose predatory practices took advantage of his gambling addiction. “The companies knew Gavin’s gambling was suspicious, and they took advantage of his addiction by encouraging his continued gambling. This included turning a blind eye to where the money was coming from, setting up accounts under fake names, inviting him to VIP events, and offering him tens of thousands of dollars in bonus bets. Yet despite this, and despite the Supreme Court identifying the victims and their losses, the gambling companies were not required by law to return the stolen funds to victims. This is simply unconscionable.” |
