The Anti-Money Laundering and Counter-Terrorism Financing Rules (Online Gambling Services) Amendment Instrument 2023 has been registered to amend the Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1). Background.
The amendments strengthen the applicable customer identification procedures (ACIP) that apply to online gambling service providers.
These changes help ensure that online gambling services are not exploited by criminals and implement a key measure of the National Consumer Protection Framework for Online Wagering.
From 29 September 2024, all online gambling service providers must complete ACIP before creating an online gambling account or commencing to provide any designated service.
Interim arrangements will be in place from 29 September 2023 to 28 September 2024 to give gambling services time to adapt their systems to accommodate this change. These interim measures allow for some delay in special circumstances.
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Author: David Jacobson
Principal, Bright Corporate Law
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About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.
