The legislation will also get rid of cash transactions that total more than $1000 per customer per day and casinos will move towards cashless gaming in a bid to track and identify any potential financial crime.
As well as this, there will be a coordination committee set up with several agencies including the NSW Crime Commission and NSW Police to help with the regulation efforts of the NICC and look out for any potential collaborations with law enforcement in certain areas, for example, money laundering.
Kevin Anderson, minister for hospitality and racing, said:
“Reforms to be introduced to parliament next week deliver on all 19 recommendations of the Bergin Inquiry and introduce additional measures to strengthen casinos’ compliance requirements, including some key recommendations from the Victorian Royal Commission into Crown Resorts,”
“The new regulator will be truly independent and will be directly funded by the Casino Supervisory Levy paid by both casinos, with independent decision-making on licensing and disciplinary matters.
“With all penalties under the Casino Control Act to be increased at least tenfold and a new maximum fine of $100m for disciplinary action, the NICC will have scope to deal appropriately with serious misconduct of the type uncovered by various recent inquiries.”