When can Gaming Licensees pay winnings over $10,000? Your obligations under AUSTRAC.

Under Australia’s anti-money laundering and counter-terrorism financing laws, gaming licensees cannot pay winnings of $10,000 or more until they have collected and verified required information about the customer.

For individuals, licensees will need to collect the customer’s full name, date of birth and current residential address.

Licensees must then verify the customer’s full name and either their date of birth and/or current residential address. These details should be verified using:

  • an original or certified copy of a primary photographic identification document such as a drivers licence or passport, or
  • an original or certified copy of a primary non-photographic identification document such as a birth certificate or concession card and an original or certified copy of a secondary identification document such as a rates notice or electricity account.

The Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 provides a full list of acceptable document types.

In Queensland, a payout must be made to the player within 24 hours after the claim is made. If the payment is over $10,000 or the licensee considers it to be suspicious they must wait until the identity of the player has been correctly verified  Gaming licensees must keep records about customer identification procedures they undertake, including details about the customer and how they have verified the customer’s identity, for a period of 7 years.