Brodie

Bollocks. The TAB hierarchy who are paid big money can surely point out the error of their ways to the Dept. of Internal Affairs If they insist that it is their idea to not fun with the AML act which clearly states the figure of 10k!!!!!!!! Why does the DIA believe that it should be on pathetic amounts of $1k for the TAB, do they think that there is plenty being laundered thru the TAB agencies???? If people are putting money thru TAB accounts as laundering then it is so easy to trace, so it is only agencies and oncourse that it will involve. We are not that stupid to believe that the DIA suggested the TAB adopt $1k and involve every single transaction over $1k even if it is from someone that has been lucky enough to get a trifecta!! Look, going around in circles and we are all entitled to believe what we like, but if punters believe that people are money laundering thru the TAB from spending $2 and should have to prove who they are, then they are delusional!!!

Totally correct Chief! It is another badly thought out policy from the TAB. It is hard to understand how the people that make these stupid decisions and policies ever get to be in these positions to be able to make these stupid decisions. It will come back to bite them on the butt!

Totally agree Whiplash that the TAB needs laundering to increase their turnover and profit. I reiterate it is not to do with money laundering the reduced amount of 1k rather than the 10k. It is all about being able to control the punters otherwise why isn’t the AML act altered to the $1k???? Why not because the NZ TAB in their wisdom want it and no one will be able to convince bigger punters otherwise.

Don’t bother reading and commenting then. You obviously can not take much then? A Forum is designed for people to express their opinions whether you agree with it or not! The fact remains that the decision to treat every punter as a possible money launderer is just blatantly stupid and the TAB is wanting to increase profit going forward?

Shodsie, thanks for that. That being the case that the TAB didn’t want to bring it in, why did they accept it when the AML/CFT Act says $10k? I have not got a problem with sorting out any money laundering but I can not see how the TAB could not get thru to DIA that someone betting $2 and collecting $1k off a trifecta is likely to be money laundering. What was the reasoning by the DIA that all punters that spent or collected $1k was wanting to launder money? A regular punter of large amounts and collects if known to the TAB and checked out, should not be having to identify theirselves to the TAB and Big Brother every time. The TAB over the past few years have gone to lengths to stop their customers who are somewhat successful from betting with the TAB! This policy just totally enables the TAB to know who every punter is that wants to bet a reasonable amount and limit them to pathetic amounts. I for one am not prepared to play this stupid game that has come in. I am not and never needed to be a money launderer, and as such will not accept being treated like one and have to identify myself everytime I get a collect!

They would have to in terms of the AML and if they purchased 10k of chips If the TAB was a casino it would be 1k as they don’t follow the AML Act rules

And u are a lawyer? I am on the money Tonka if it was contested in a court. Don’t give a rats what u think, it is blatantly just another morally and poor policy from a business that is haemorhaging U are entitled to an opinion at the end of the day the punters will vote with their feet. I don’t rely on punters for business, let’s see what the bigger punters think when it is enforced. Just another bad decision?

Wouldnt Expect too many to be winning 10k and if they were they would be known to the casino as prob highrollers

Whiplash, Brodie always voices his opinion when he knows things are not right, and this is not right. Not sure how the self service machines are going to work but I bet they will program them so that bets and collects over 1k won’t work. And yes I may well start throwing out some tips as I won’t be betting with the NZ TAB if they maintain the one tenth policy

No the Casino is 10k by the look of it. It is the NZ tAB that is only 1k!

You can defend the TAB to the cows come home. Why doesn’t the TAB come out and tell us the truth in that it is to stop winning punters and the convenience of the AML act can now do that for them. Until someone pointed out the AML / CFT requirement at $10k today i wasn’t aware of that, although I knew that it was not to do with the AML act that the 1k was brought in. I am not a money launderer, never have been and don’t need to be one. The fact is that people that know Brodie can vouch for that and I could prove that to the TAB but to have to tell them every time I bet or collect who I am takes away every chance of me making money from gambling. Anyway would be good if someone from the NZ TAB could come on here or media and advise us why they are adopting a one tenth of the requirement amount that has to notified? Doubt that will happen as we know why, don’t we!?

What a stupid thing to say. This is a racing forum and the TAB is a racing topic and there policy is so out of line with the requirements under the AML, somthey should be giving their reasons. They stated that they weren’t considering punters as money launderers and yet they impose a limit of $1k? How on earth you can defend it Nowornever defies logic

It is a breach of the privacy act, that someone that what’s to have a bet is asked by a TAB agency staff member who they are and then that is passed on to the TAB! It doesn’t matter who you talk to government agencies always quote the Privacy act, If we don’t want to, why on earth should we have to identify ourselves for collecting a winning bet! Does the supermarket have to ask someone who pays cash for food who they are in case they are money laundering or someone that buys a $1000 TV from Leeming? As I say it is not money laundering that the TAB is concerned about, it is control over who is collecting money off them and we can now stop them. We only want losing punters betting with us! As I have said got no problem with the TAB questioning people if they have suspicions but a blanket policy of $1k on everything which is one tenth of the requirement for money laundering under the AML act is so ridiculous. If it is going to be policed I can tell you now, punters who bet larger amounts just won’t bother with the TAB'

Whiplash, do not think,I am paranoid, just pissed of with the NZ TAB that I have supported for many years. I am well aware that the TAB is a business and as such need to make money. However, I have personally been treated very poorly over the last few years and not just restrictions! I am not going to go into detail on here but if you had had the same things happen to you, I am sure you would be pissed as well. Whiplash, can you explain to us all why you consider the TAB is fair in allowingNZ punters to have to be subjected to ONE TENTH of the amount as required under the AML/CFT act? Look, I am at a stage where I just can not be bothered with betting with the TAB in NZ, however I feel that they should be respecting the AML act requirements and not being a law unto themselves! The current TAB is not doing any favours to the racing industry in NZ at the moment!

The NZ TAB to my mind is clearly in breach of the AML/CFT Act requirements in the introduction from the 1/8/2019 of the requirement for punters to identify themselves if they bet $1000 or collect $1000!!! This is clearly a breach of the act and contravenes the requirement as defined in the AML/CFT of needing to be $10,000 cash and $1000 by way of an international transfer! The NZ TAB needs to come on here and news media and clearly define why they wish to subject the NZ punters to a tenth of the necessary requirement as defined in the act??? I have always stated that it has nothing to do with money laundering but all to do with their wanting of total control of the wagering of punters! I await with baited breath as to the TABs reply, and hopefully they will change their mind as to the policy they have just brought in to stuff the industry further! Hopefully they will see sense and amend the requirement to what the requirement is supposed to be!!!!

What does the Board have to do to comply with the AML/CFT Act? Initially, you’ll have to: designate someone in your business as an AML/CFT compliance officer assess and document the money laundering and terrorism financing risks your business may face establish an AML/CFT compliance programme setting out how you’ll detect and manage these risks. On an ongoing basis, you’ll have to: verify the identity of customers before providing any service covered by the AML/CFT Act. In some circumstances (such as if they represent a company or trust), you may also need to ask for information about where money came from and the other people involved. For more information about verifying customers’ identities, see: Information for customers about anti-money laundering laws submit a Prescribed Transaction Report to the Police Financial Intelligence Unit (FIU) if a client wants to conduct a transaction in cash that is $10,000 or more, or an international wire transfer of $1000 or more So clearly the NZ TAB clearly sees fit that they want to go even further to so called PROTECT us all from something by not going by the Anti Laundering Money regulations and submit the punters to only $1k rather than the $10k. As Brodie has always maintained, this punters card has nothing to do with money laundering whatsoever, pure and simple CONTROL! They deserve to be boycotted until they come out and apologise and play by what the AML states!!

Harness4All, is totally correct in what he says about the $10,000 cash and $1000 for international orders, well done to him/her! What the Nz TAB has introduced is radically over the top for what the prescribed requirements for anti money laundering, and how anyone can defend this over the top policy is hard to believe. Someone spends a couple of dollars and wins a trifecta and the collect is over $1k and the NZ TAB thinks this could well be money laundering?? WTF, you have to be kidding???? This is an intrusion into punters privacy and should not be tolerated, as they have introduced a policy that contravenes the regulations required by the government. We should not be accepting this BS and show the TAB that what they have introduced is nothing more than wanting to control everyone, and show this by telling them to get stuffed and stop betting with them, until they withdraw their policy and amend it to what the law actually says!!!!

Thankyou for that. Anyone with half a brain can work out that is is nothing to do with money laundering at all. The TAB brainstrust want total control of who is putting money on with them and who is collecting the larger sums so that they can restrict them. Punters are not being given a fair go at all here, and it will backfire on them greatly, which is good. Some decisions that the TAB bosses have made over the past few years are less than average, and I know from personal experience that they do not play fair, and treat punters differently. As I say, I am not prepared to play their stupid little games anymore. They will say that is great for them, it will affect them more than myself as the bigger wagering punters will tell them to get stuffed!

Hope you not being rude Booby? Originally was meant to stand for double posting!

Not too sure whether you think you are being funny or not? What point are you trying to make to say that Brodie is not on the money and you are?????

Tonka, I reiterate , I do not tell porkies!! And you are Incorrect, I would’ve been effected by it. Not elaborating on that for obvious reasons! Anyway, I wont be giving over any Punters Card or Pass to any TAB agency!!

What I have stated many times the blanket policy is BS, as if someone who collects $1k has had a bet so that he can collect over $1k and he could be doing this to launder money. It is another totally unthought of policy that has a detrimental affect on racing in NZ without doubt. You can defend it to the cows come home, but any punter in NZ that bets larger amounts and is currently restricted is going to have serious thoughts about whether they are going to continue to wager. I can tell you now, the TAB will now have even more control over the punters. They will be able to monitor everything and for me I am not going to be furthered controlled. OK, the TAB may well say yay, however I am not going to be the only one that will give it away. I will still watch the racing, but as to investing, not worth my while as I will be even more controlled by this new BS policy. The TAB agencies around NZ will suffer as a consequence of this and ultimately there are going to be bugerall standalone TAB agencies left in the next couple of years as they become uneconomic. Most betting will be done on account by computer or phone which is how the TAB can control easier.

That’s when they get The ID and if the TAB wants to do something about it then it is up to them! To make a blanket policy of getting ID etc. from everyone who is a genuine punter is just blatant BS! If it is now policy that the TAB is given punters names and they know how much is being transacted, they must not think it is a breach of the Privacy Act! That being the case, why doesn’t the TAB now put it over the TV who and how much everyone is punting for the big bets! Tom Brown has put $10k on Raphoe to win!

Firstly, why should,you have to produce ID for collecting $1k when you have had a bet in good faith. Havent got a problem if the TAB staff questions someone who they think could be money laundering, however a genuine punter like myself that TAB staff know, should not have produce ID and tell Big Brother what they are collecting or spending everytime!!!!! Nothing to hide at all, just don’t want to tell the TAB how much I am collecting or spending as it is hard enough to get money on already!!! Don’t think I am that stupid, not paranoid just don’t like the TABs business practice and many agree with me! Have too much money? Let’s just say I don’t need punting to live very comfortably, and I don’t launder money!

You what? May not affect you, but for the ones that it is does, there is a problem. Someone collects a $1000 trifecta on Cup day and they have to prove who they are, when they only bet once a year, and it is called money laundering? TABs don’t give cheque’s much at all from what I see, betting vouchers or into an account! it is the way of the world that you have to produce ID for legitimately collecting $1k or putting on $1k!!!!!!! If you think that putting $1k on the TAB or collecting $1k is money laundering then you seriously have a problem identifying what a lot of money is, in this day and age. If the TAB agency staff think there is a chance that a punter is laundering money then they should point this out to BIG BROTHER and get some ID! The fact that a punter is a bigger punter than someone else means that they need to identify themselves to the TAB and Big Brother every damned bet and collect is just downright BS! I am not going to play their total control game, and I don’t have to fortunately. I know it is going to backfire on the TAB and I hope the punters that remain with the TAB take them to the cleaners! When I hear that the TAB take bets from people for $10k and that is ok with them, and others get on eff all and now this, it is blatant BS. It will come back to bite them on the xxxxxxx