Unregulated gambling (aka scambling) has been identified as an issue by a number of financial counsellors who have come across questionable Osko transactions that are to unrelated people for certain amounts such as the following – “OSKO TFR TO SIONGTCLOTHING PTY LTD Online transfer” or “OSKO DIRECT CREDIT OSKO Mr Kak Keat Wong payment.” The amounts are usually round figures e.g. $24.00 or $30.00. Individuals who participate in illegal online gambling risk losing deposited funds and are unlikely to recover any winnings. There's also a risk of identity theft, exposure to fraud, and unknowingly engaging in money laundering. Authorities and financial institutions are generally unable to assist in such cases. After having spoken to ASIC, they have provided information attached and below on how to identify and report: ASIC suggest the below options, depending on the outcome your client is seeking: - Raising with client’s bank: if client alleges they’ve been scammed, the bank may be amenable to trying to recover funds/stopping any pending funds going through to the scam/gambling operators. I can’t guarantee that they will be willing to explore this or that things would land in the client’s favour, but it may be something to explore if your client is keen for an outcome for them such as money back (though again, not sure this is possible, and if the operators are located overseas this will be even more difficult)
- Reporting to ACMA: ACMA is the Australian Communications and Media Authority; they are part of the Fintel Alliance that I mentioned on the phone and also take complaints about alleged illegal/unlicensed gambling operators. They have a dedicated complaints form for online gambling. You can use this to get the provider on their radar; possible outcomes include blocking of the illegal sites (though I don’t know how this works in relation to apps, FYI), though I can’t say where they would land
- Reporting to AUSTRAC: AUSTRAC lead the Fintel Alliance, and are responsible for administering anti-money laundering legislation. If you report to ACMA, it will find its way to AUSTRAC, I am just not sure how fast that process is. You could also lodge with AUSTRAC if you are keen for this to be on their radar asap.
- Reporting to ASIC: we don’t have a particular role in scam gambling, but it is helpful for us to have on our radar. I can lodge a report here at ASIC to ensure it’s on our internal registers, and so we can refer back in our conversations about scambling with other agencies if needed? (I won’t need anything further to do this, just your consent and I can keep your client details anonymous). This won’t result in an investigation or other outcome, but will be helpful for information purposes if this comes up in future.”
Here are some links to some helpful handouts to understand more about the issue and also to explain it to clients poster, fact sheet and FAQs. Thanks to David and Kelly from Catholic Care NT for sharing this information. |
