Tabcorp will introduce revised TAB account terms from 30 October, including a ban on overseas account access, according to The Straight. The changes will also expand controls covering withdrawals, customer verification and betting errors.
Under the existing terms, customers can use their accounts overseas with TAB's consent. That exception will be removed, requiring account holders to be physically located in Australia whenever accessing or using their accounts.
The updated rules will also prohibit VPNs and similar services used to conceal a customer's location. Customers may be required to verify their state or territory of residence and keep their residential information current.
TAB may conduct ongoing identity and financial checks, including source-of-funds and source-of-wealth verification. A new Restricted Member framework will allow accounts to be limited where required checks cannot be completed, potentially preventing betting, deposits and withdrawals until requested information is provided.
Withdrawal requests may also be delayed or refused while TAB investigates suspected fraud, scams, suspicious transactions, compromised accounts or possible breaches of its terms. Similar measures may be applied to meet anti-money laundering and other legal requirements.
The revised conditions also broaden TAB's manifest error provisions. These cover incorrect odds or prices, duplicated markets, inaccurate participant information, incorrect Cash Out offers and markets that remain open when they should have been suspended or closed.
Affected bets or Cash Out transactions may be voided, while payouts can be adjusted or recalculated where an obvious error has occurred.
Other changes address situations where an international or national pool's host operator cannot declare a dividend, allowing bets to be retained in another eligible pool.
TAB has additionally expanded its safer gambling provisions, including its ability to contact customers about gambling activity and restrict or close accounts. Existing unrestricted customers who consider the changes detrimental can close their accounts without fees during the 30-day notice period.
Tabcorp was recently fined AU$350,000 (US$246,327) by the VGCCC over failures to fully implement mandatory multi-factor authentication controls
