Speaking at an anti-money laundering and responsible gambling keynote panel, Tabcorp CEO and Managing Director Adam Rytenskild said: “We believe there is too much gambling advertising, and that people should be able to watch live sport without being inundated by gambling advertising.”
He added his belief that Australian communities would not stand for the direction wagering advertisement was going, and called for gambling advertising to be stopped on free-to-air television between 6:30am to 8:30pm.
This, Rytenskild claims, will go a long way to reduce the impact of gambling harm on Australian communities.
To back up his claims, Tabcorp’s CEO says the company will stop advertising at these times even if it is not recommended by the Federal Government, despite being a multi-channel operator currently allowed to advertise during these times.
Calls to clamp down on gambling advertisements in Australia have amplified after cases of money laundering through gambling machines at New South Wales pubs and clubs came to light in recent months.
Director at financial crime advisor Custos Advisory, Crispin Yuen, spoke at Regulating the Game about how to mitigate further potential breaches related to money laundering.
He said: “Cashless gaming may reduce money laundering risks; however, we may need to consider other risks such as the use of ID packs using stolen or borrowed identities from knowing and unknowing actors.
“Board and senior management will require a better understanding of the financial crime threat landscape. Setting the tone from the top – demonstrate the will to do the right thing in the organisation, and setting out the organisational culture.”
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