Aussie Gaming Authority in Norfolk Island To Get Shut Down Completely
The Gaming Authority of Norfolk Island is going to be shut down. This is following the scathing report that revealed that it has internal controls that can result in increase of corruption and fraud. The report showed that the authority is barely viable. It also showed that the regulatory body is failing to function in its regulatory role.
Norfolk Island Authority To Be Shut Down
The report was based on a 2 month long investigation of the gaming authority as well as the administration of Norfolk Island. This report found a set of really serious concerns. These concerns included lack of resources, oversight and transparency. It also showed a disregard for appropriate regulation and a disregard for risks. There were also instances of conflict of interest in the appointments.
The report stated that the former administration as well as the Norfolk Island authority had wrong priorities. This is because they have been more concerned with increasing the revenue from the gaming licenses, instead of having due regard to the regulatory function. The recommendation of the report is that the body should not continue its operation in the existing form.
The Review of the Australian Territory’s Gaming Authority
In April and May of 2016, the Pacific Island gaming authority was reviewed. This review came under the instructions of the administration of Norfolk Island. This review was a result of concerns regarding the practices of the authority. In April, Paul Fletcher, the Federal Territories Minister revoked the authority power of the regulatory body. This way, it was no longer able to issue licenses to wagering agencies. This was a result of the revelations that the authority has given licenses to some of the biggest illegal gambling organizations.
The report that the federal government released recently reached the conclusion that the authority is ineffective. It also stated that the authority failed to fulfill its role as a regulatory body. It also added that its performance was not acceptable.
Fiona Nash Shuts the Authority Down
Fiona Nash, the Federal Minister of Territories and Local Governments made a decision. This decision is to shut down the Norfolk gaming authority entirely, as a result of the last report. Nash stated that gambling in the country has to be regulated carefully. This has to be done in order to guarantee the integrity of the sport and to protect the gamblers themselves. Before making that decision, she asked Centium, the assessor, to undergo further assessment in order to determine the possibility of rectifying the issues that were revealed in the 1st report.
On the other hand, the second report made it quite clear that the problem with the authority is irreparable and that it is beyond redemption. This is why she stated that closing down the authority was the right decision to be made