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Bit Of A Yarn

New TAB Policy


snypnz

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Thoughts on this new policy? Doesn't affect me at all since i'm not exactly a high roller, but looks to me like a thinly veiled attempted to keep track of anyone who manages to best the system

 

Not sure if this is the right place to post or not, sorry if it isn't

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edit: ok i looked it up and apparently there is a new law that requires at least some of the new policies, but i can't help but think the TAB are more than happy to oblige as they stand to get a lot of information from this

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48 minutes ago, snypnz said:

edit: ok i looked it up and apparently there is a new law that requires at least some of the new policies, but i can't help but think the TAB are more than happy to oblige as they stand to get a lot of information from this

Most working at the TAB couldn't care a hoot about it so I don't think they do it for the benefit of the TAB as such.

They do it because its something black and white so they can show they are doing something. Most just haven't a clue about racing, wagering etc. Also its like many on racing club committees don't know much about racing but had a bit of experience buying and selling real estate.

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Its tied into anti money laundering legislation which has been in force for many years. It covers the TAB,  Banks and other entities that deal with large sums of cash.

However when you consider  the vast sums that have remmitted  into the country to purchase property etc. it hard to believe that the majority of this is not money laundering.

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20 hours ago, Bloke said:

Its tied into anti money laundering legislation which has been in force for many years. It covers the TAB,  Banks and other entities that deal with large sums of cash.

However when you consider  the vast sums that have remmitted  into the country to purchase property etc. it hard to believe that the majority of this is not money laundering.

And considering every time there is some whistleblowing or investigation huge cache's of dodgy hidden funds are discovered. e.g Panama papers. From a 2016 sub headline "New details from the Panama Papers show how a stream of foreign cash became a torrent flooding into New Zealand trusts in order to avoid tax offshore."

Therefore why on earth are NZRB spending money on monitoring penny farthing transactions whereas the real problem is not really being addressed.

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