{"id":29425,"date":"2022-04-29T10:13:42","date_gmt":"2022-04-29T13:13:42","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=29425"},"modified":"2026-04-23T09:09:25","modified_gmt":"2026-04-23T12:09:25","slug":"austrac-and-vgccc-sign-new-cooperation-agreement-against-financial-crime","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/austrac-and-vgccc-sign-new-cooperation-agreement-against-financial-crime","title":{"rendered":"AUSTRAC and VGCCC sign new cooperation agreement against financial crime"},"content":{"rendered":"\n

The regulators have signed an updated Memorandum of Understanding (MoU) aimed at strengthening their efforts against financial crime.<\/p>\n\n\n\n\n\n\n\n

Australia.- The Australian Transaction Reports and Analysis Centre (AUSTRAC) and the Victorian Gambling and Casino Control Commission (VGCCC) have signed an updated Memorandum of Understanding (MOU). They aim to\u00a0continue cooperating in the fight against financial crimes<\/strong>\u00a0by sharing information and strengthening the gambling sector against criminal abuse.<\/p>\n\n\n\n

AUSTRAC CEO Nicole Rose<\/strong>\u00a0said: “The impact on the community of criminals exploiting the gambling industry to launder the proceeds of serious crime cannot be underestimated.\u00a0It is critical for AUSTRAC and its state and territory-based regulatory and Government partners to work together to ensure the gambling industry is hardened against misuse by criminals.”<\/p>\n\n\n\n

Adam Ockwell<\/strong>, VGCCC executive director of compliance, added: “Having faster access to AUSTRAC\u2019s financial intelligence will strengthen our work in identifying any emerging financial crime issues so we can take appropriate regulatory action, including education measures, to minimise harm, protect the community and ensure the integrity of the gambling industries in Victoria.”<\/p>\n\n\n\n

The VGCC was launched on January 1. Its CEO is Annette Kimmitt<\/a>, who was CEO and managing partner of Australia\u2019s largest law firm, MinterEllison, between October 2018 and March 2021.<\/p>\n\n\n\n

Australian Greens renew fight to ban gambling machines<\/h2>\n\n\n\n

The New South Wales Greens<\/strong> party has renewed its call to ban gambling machines in Australia. It believes the country can afford to do without an industry worth AU$3.1bn (US$2.21bn) a year. It wants pokies to be phased out from bars within five years and from other venues within 10 years<\/strong>.<\/p>\n\n\n\n

The Greens propose financial support to offset some of the lost revenue. They also want a complete ban on gambling ads on public transport and at sporting events.<\/p>\n","protected":false},"excerpt":{"rendered":"

The regulators have signed an updated Memorandum of Understanding (MoU) aimed at strengthening their efforts against financial crime.<\/p>\n","protected":false},"author":176,"featured_media":18728,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"AUSTRAC and the VGCCC have updated their MoU to enhance cooperation against financial crime, focusing on information sharing to strengthen the gambling sector against criminal abuse. Concurrently, the New South Wales Greens party has renewed calls to ban gambling machines (pokies) and advertising in Australia, proposing a phased elimination and financial support for affected venues.","focusai_entities":"AUSTRAC, Victorian Gambling and Casino Control Commission (VGCCC), Nicole Rose, Adam Ockwell, Annette Kimmitt, MinterEllison, Australian Greens, New South Wales Greens","focusai_location":"Australia, Victoria, New South Wales","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), affiliate_publisher (0.7), tech_data (0.7), marketing_crm (0.9), payments_fraud_aml (1.0), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (1.0)","focusai_suggestions":[{"label":"MoU Impact on AML\/CTF?","query":"What specific enhancements to AML\/CTF governance frameworks and information-sharing protocols are anticipated from the updated AUSTRAC-VGCCC MoU, and how will this affect operator compliance obligations?"},{"label":"Pokies Ban Feasibility?","query":"Given the AU$3.1bn economic contribution of gaming machines, what is the political and economic feasibility of the proposed phased ban by the New South Wales Greens, and what are the projected impacts on state revenues and the broader gaming verticals?"}],"footnotes":""},"categories":[16336,156,158],"tags":[23793],"class_list":["post-29425","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","category-slider-home","tag-austrac"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=29425"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29425\/revisions"}],"predecessor-version":[{"id":29432,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/29425\/revisions\/29432"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18728"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=29425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=29425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=29425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}