Mr Wilkie said:
“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. 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.”
The bill is one of several that have been introduced by independent members of parliament. These include bills by Helen Dalton MP in New South Wales and Kristie Johnston MP in Tasmania. Discussions are also ongoing with independent politicians in South Australia and the Northern Territory to draft and introduce similar pieces of legislation.
Government Taking Soft Approach on Gambling
Australian MP Wants Gambling Companies to Refund Crime-Funded BetsSpeaking on ABC radio he said that the blanket ban on gambling ads, which was recommended in the the government inquiry into the effects of online gambling on problem gamblers, was not the ‘bold’ move that many made it out to be.
Australian MP Wants Gambling Companies to Refund Crime-Funded BetsThe bills introduced by Wilkie, Dalton, and Johnston aim to address what many politicians have labeled as a ‘soft approach’ to gambling companies and their actions.
Australians Have the Highest Gambling Losses
The latest Australian gambling stats show that local gamblers have the highest gambling losses per customer in the world with average losses totaling AU$1,635 ($1,105) per year.
Australian MP Wants Gambling Companies to Refund Crime-Funded Bets, the losses experienced by Australian gamblers are much greater that the averages in other countries with regulated gambling such as the United States – AU$809 ($547), and New Zealand – AU$584 ($394). Australian MP Wants Gambling Companies to Refund Crime-Funded Bets.
Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.