Examining Law Enforcement’s Capacity to Combat Money Laundering

How does a parliamentary inquiry work?

For those who are unfamiliar with the inquiry process, a parliamentary committee will address a specific matter – in this case, law enforcement’s capability to respond to money laundering and financial crime. 

The committee’s membership includes MPs from ‘all sides’ of politics. 

As part of this process, the committee will seek feedback from stakeholders via submissions and public hearings. 

After engagement with stakeholders and research, the committee will report to the Australian Government, identifying issues and areas for improvement, which may include recommendations. 

Did Clubs Australia provide a response?

ClubsNSW, through Clubs Australia, prepared a submission to support the Committee’s inquiry, which can be found here.

We focused on specific terms of reference, including the proposed AML/CTF reforms, clubs' role and response, and the effectiveness of collaboration and coordination between Commonwealth agencies and authorities in other jurisdictions. 

A summary of our proposed recommendations can be found below:

1. A clear, certain and robust legislative and regulatory framework to enable clubs to meet their AML/CTF obligations. 
2. A consistent, measured and sensible compliance approach adopted by AUSTRAC. 
3. Commonwealth agencies, including law enforcement and AUSTRAC, working collaboratively with reporting entities and their industry bodies to prevent, mitigate and deter money laundering. 
4. Continuing to enable information sharing with authorities in other jurisdictions.

How can clubs stay up to date?

If you’re interested in the progress of the inquiry, you can stay updated by visiting the committee’s webpage here.