Member for Mayo, Rebekah Sharkie, has seconded a bill that which would ensure gambling companies can no longer profit from the proceeds of crime.

The Anti-Money Laundering and Counter-Terrorism Financing Amendment (Making Gambling Businesses Accountable) Bill 2022, was introduced to the parliament on Monday by the Independent member for Clark, Andrew Wilkie.

Under the proposed bill, gambling companies would be compelled to make a report to financial regulator AUSTRAC if they had reason to suspect a person was paying for a gambling service with illegally obtained funds.

If the bettor was shown to have used stolen money for the gambling services the Federal Court would be able to order the gambling company to financially compensate the victim of the crime.

"I wholeheartedly support Mr Wilkie's bill" said Ms Sharkie.

"It is unbelievable that the Parliament does so little with respect to predatory gambling practices. What is particularly galling is that the entire time sport is on the television, especially on the weekend, gambling advertisements are played over and over again."

"Unfortunately, Australians are way ahead of the pack – losing more money per capita than any other nation. An estimated 7.2 per cent (1.3 million) Australian adults are at risk of or experiencing problematic or harmful gambling, which can impact not just these individuals, but also their families, workplaces and communities."

"This is why myself and the Member for Clark are co-convening a new Parliamentary Friends of Gambling harm Reduction group this Parliament which will provide a non-partisan forum for Parliamentarians to meet to raise awareness of the impacts of gambling on mental and physical health, relationships and finances, and discuss the ways Australia can reduce the level of losses and gambling harm."

"The group will look at at the exposure of our children to a growing level of online and sports gambling promotions and inducements and will foster conversations with peak organisations involved in reducing gambling harm, including the Alliance for Gambling Reform " said Ms Sharkie. 

"The realities of gambling harm are a far cry from gambling companies’ portrayals of young Australian ‘mates’ in advertisements pushed at viewers throughout every sporting broadcast. We need to think carefully about banning such advertising during the day/in peak viewing times for our children and young people."

"Fine print warnings to ‘gamble responsibly’ are disingenuous unless gambling companies are held accountable to operate responsibly also.

Some of the billions of dollars lost each year to gambling companies are illegally obtained by bettors and then gambled away.

Gambling companies should be doing their due diligence, including by questioning the sources of these funds. Enacting this Bill would allow victims of such theft to recoup compensation from the gambling firms who ultimately reap huge profits."