Thursday 14. April, 2016

Australia Post Found to be Helping to Fund Offshore Gambling Accounts

Australia Post has been accused of earning millions of dollars by funding gambling accounts of punters who play at illegal offshore casinos. A subsidiary of the state-owned postal service, POLi Payments is available as an online payment service for moving funds from Australian bank accounts to online gambling accounts.

While Australia’s Interactive Gambling Act allows online betting with operators who have a local betting license, hundreds of International online casinos offer POLi as a payment options for Australians. According to information collected by The News Daily, POLi has brought in around $5 million in revenue in the last eighteen months from this business venture.

Anti-gambling activist and independent senator, Nick Xenophon, stated: “If it is involved in facilitating these payments, Australia Post needs to recognise it is contributing to the growth of gambling addiction and the enormous harm it brings to Australians and their families.”

“They need to get out of this business ASAP because it is toxic.”

Australian residents who gamble at these offshore online casinos are immune from prosecution, but the operators face fines of up to $1.8 million per day they offer their services to Australian residents. Marketing online casino games to Australians also faces high penalties.

Australia Post insisted to The Daily News that their POLi Payments subsidiary was compliant with Australian legislation.

“We are comfortable that POLi is acting in accordance with the Interactive Gambling Act and other applicable gaming laws where POLi is involved in making payment transfer services available for use,” said an Australia Post spokesperson.

The spokesperson noted that the $5 million in revenue from this venture was just a drop in the ocean compared to their $6 billion annual revenue and that the online casino industry is “not an area that we intend to operate in over the long term.”

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