Australian Casinos May Launder Billions Annually, Regulators Warn

Australian gambling regulators are increasingly concerned about the potential volume of illegal transactions passing through their casinos. The Australian Gaming Commission has expressed worry over the significant amounts of money that could be laundered through these establishments. The state of New South Wales alone has approximately 100,000 gaming machines, through which hundreds of millions of dollars can be laundered annually.

David Birn, an Australian researcher on the impact of gambling on people, claims that over a billion dollars can be laundered across Australia in a year. His assertions are supported by surveillance footage from casinos, which shows individuals using methods to launder money. One such method, known as the 'feeder' method, involves a person entering a casino, inserting a large sum of money into a gaming machine, and then cashing out to receive clean, 'laundered' cash.

Another method, referred to as the 'link' method, involves criminals forming syndicates and participating in jackpot draws. This is achieved by placing bets on all connected machines, ensuring that the jackpot is won by one of the syndicate members. Regulators are considering measures such as introducing cashless transactions and limiting transaction amounts to curb these activities, though these changes could also deter high-value, anonymous clients.