Liquor & Gaming Unclaimed Gaming Machine Prize Audit

Did you know?

All unclaimed gaming machine prizes expire after 12 months and cannot be paid out after this date. Additionally, expired tickets need to be paid to the community development fund within three months of expiry.

Any unclaimed gaming machine prize tickets that remains unclaimed at the end of this expiry period needs to be paid to the community development fund within three months. You can; for instance, batch pay these tickets. That is to say, they do not have to be paid individually, a lump sum is acceptable. However, records of what tickets apply to batch payments need to be maintained.

All expiring tickets over $10.00 require a notice of expiry to be shown.

One month before the expiry date (11 months after the issue date), a notification must be shown in the venue. Furthermore, the notification is required to state that this ticket is expiring and will be paid to the community development. Additionally, the notification should state that no payout can be made after the expiry date has passed.

All tickets claimed after 48 hours need to have customer identification recorded.

If a gaming machine ticket is claimed on the day on which it was issued or by close of business the next day, customer identification is not required. However, if an unclaimed ticket is redeemed after this period, you need to collect customer identification.

A business process document to manage this should be in place.

The AML Company can help you with your Liquor & Gaming Gaming Machine Prize requirements, provide and assist in implementing a business process and assist with your audit preparation.

The AML Company are experts in Pub and Club AML/CTF compliance. We offer cost-effective and compliant AML/CTF Program solutions to Pubs and Clubs in Australia.
We have been providing AML/CTF compliance programs to the pub and club industry for over 15 years. The AML Company is a boutique company that has provided Anti-Money Laundering and Counter-Terrorism Financing (AML/CTF) Risk Analysis to Clubs, Pubs, and Financial Institutions for the past 15 years.  Our business focus is on AUSTRAC regulations as they pertain to gaming machines within Pubs and Clubs. We aim to make compliance with regulations as easy as possible for our clients.

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Liquor & Gaming Gaming Machine Prize Audits
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Liquor & Gaming Gaming Machine Prize Audits
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Did you know? All unclaimed gaming machine prizes expire after 12 months and cannot be paid out after this date. Additionally, expired tickets need to be paid to the community development fund within three months of expiry. Any unclaimed gaming ticket that remains unclaimed at the end of this expiry period needs to be paid to the community development fund within three months. You can; for instance, batch pay these tickets. That is to say, they do not have to be paid individually, a lump sum is acceptable. However, records of what tickets apply to batch payments need to be maintained.
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The AML Company
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