snypnz Posted July 28, 2019 Share Posted July 28, 2019 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 1 Quote Link to comment Share on other sites More sharing options...
snypnz Posted July 28, 2019 Author Share Posted July 28, 2019 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 1 Quote Link to comment Share on other sites More sharing options...
The Centaur Posted July 28, 2019 Share Posted July 28, 2019 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. 1 Quote Link to comment Share on other sites More sharing options...
Bloke Posted July 28, 2019 Share Posted July 28, 2019 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. 1 Quote Link to comment Share on other sites More sharing options...
The Centaur Posted July 29, 2019 Share Posted July 29, 2019 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. 1 2 Quote Link to comment Share on other sites More sharing options...
Bloke Posted July 29, 2019 Share Posted July 29, 2019 Its mad, I went to The bank today to purchase a couple of hundred in Thai Bart for when we stop over in Bangkok on the way to Europe. The bank wanted identification in case I was money laundering. 1 Quote Link to comment Share on other sites More sharing options...
Kihikihi Kid Posted July 31, 2019 Share Posted July 31, 2019 Same here, took 25 minutes to get 250 Euros, what a joke. Quote Link to comment Share on other sites More sharing options...
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