The move comes as Australia seeks to implement stricter AML laws nationwide
In an effort to prevent money laundering, Queensland implemented legislation that limits cash gambling at the state’s casinos. The new law also involves identity verification and a code of conduct at casinos. The legislation comes as Tranche 2 anti-money laundering (AML) reforms are likely to soon come into force in Australia.
Queensland attorney general Yvette D’Ath noted that casinos will be restricted to accepting a certain amount of cash from a person for gambling-related transactions in a 24-hour period. The cash limit will be set through regulation but is likely to be about $1,000.
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