Media release – independent Member for Clark, Andrew Wilkie, 18 November 2024
“GIVE BACK THE STOLEN MONEY” – PROPOSED LAWS TARGET GAMBLING COMPANIES
Independent Member for Clark, Andrew Wilkie, will today introduce his Anti-Money Laundering and Counter-Terrorism Financing Amendment (Making Gambling Businesses Accountable) Bill 2024, which would require gambling companies to return money that was originally the proceeds of crime to the victims of that crime.
Mr Wilkie’s Bill is part of a national campaign by independent politicians to introduce laws in parliaments across Australia, which would return stolen money to victims of gambling-related crimes. Similar bills are being introduced by Helen Dalton MP in New South Wales and Kristie Johnston MP in Tasmania. Discussions are also occurring with independents in South Australia and the Northern Territory.
“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,” Mr Wilkie said. “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.”
Media release – independent Member for Clark Kristie Johnston, 18 November 2024
Gambling, Proceeds of Crime
Federal Member for Clark Andrew Wilkie is today introducing a Bill requiring gambling companies to return money that was stolen to gamble.
Mr Wilkie’s Bill is part of a national campaign by independent politicians to introduce laws in parliaments across Australia, which would return stolen money to victims of gambling-related crimes.
A similar Bill is being introduced in Tasmania by state independent Member for Clark Kristie Johnston.
Kristie Johnston said: “How can it be that gambling companies get to keep money that’s been stolen to gamble?
“There is no good reason gambling companies should benefit from the proceeds of crime. It’s wrong.
“Money stolen to gamble should, where possible, be returned to the victim.
“My Bill is in the final stages of being drafted and will allow the Supreme Court to make orders for the return of the stolen money and ask gambling companies to act if they think a punter is using stolen money.
“This issue came into focus in Tasmania with the case of butcher Robbo Robinson, who had his $420,000 retirement savings stolen
His gambling-addict bookkeeper went to jail after blowing Robbo’s lifesavings on the pokies.
“But Robbo remains devastated by the loss and has no way to recover his retirement income.
“My Bill would have recovered Robbo’s money from the gambling business who pocketed his money
“The Bill will save future victims though from suffering Robbo’s fate.” Ends
