NSW Government to establish new casino regulator amid sweeping reforms
NSW Minister for Hospitality and Racing, Kevin Anderson, has announced the introduction of “tough new measures” for the casino industry, and will establish a new independent casino regulator
NSW Minister for Hospitality and Racing, Kevin Anderson, has announced the launching of “tough young measures” for the casino industry, and will constitute a new main(a) casino regulator.
As a termination of the inquiry, the New South Cymru Independent Liquor and Gaming Authority (ILGA) made 19 recommendations to gambling casino operators inward an elbow grease to improve transparentness and accountability.
To direct speak these recommendations, the NSW Government is band to present a set out of regulatory reforms. These testament include a forbiddance on casinos dealing with junket operators, and independent monitoring and auditing for every gambling casino licence bearer ordained below the new regulator.
Additionally, gambling casino licence holders will live obligated to study suspicious activity and will feature to execute due industry on customers, identifying the sources of players' funds before they put up gamble.
These new regulations testament follow enforced by the fresh naturalized NSW Independent Casino Commission (NICC), which will have got “enhanced and wide-ranging compliance and enforcement powers.”
The NICC testament be led by a Chief Commissioner and will live supported past at to the lowest degree quatern additional Commissioners, at least ane of which will have expert anti-money laundering experience.
The NICC’s efforts will live monitored by a unexampled multi-agency coordination committee, collaborating with the law and Crime Commission to key out money laundering cases.
Anderson said: “These reforms testament ensure the people of NSW experience confidence that gambling casino operations are liberate from felonious influence.
"We are rebuilding the regulatory fabric for casinos inwards NSW from the strand up, with stringent unexampled controls to keep money laundering and other outlaw activity. Anything less than 100% compliance will non live tolerated.”