The government’s transaction watchdog has launched an enforcement investigation into wagering group Entain following an assessment of its bookmaking entities.
The Australian Transaction Reports and Analysis Centre (Austrac) will consider whether Entain has complied with its anti-money laundering and counterterrorism financing obligations.
Ladbrokes owner Entain is being investigated by Austrac.Credit:Getty Images
Entain, which operates in more than 20 countries, offers sports betting, as well as online casino, poker and bingo in addition to operating major betting brands including Ladbrokes, Coral, and BetMGM.
Austrac chief Nicole Rose said all reporting entitles including bookmakers must actively combat serious and organised crime.
“Reporting entities have a responsibility to ensure they identify, assess and manage risks of money laundering and terrorism financing, develop adequate processes and devote the necessary resources to comply,” Rose said.
The Australian investigation into Entain was announced less than a month after the UK’s Gambling Commission ordered the group to pay $28 million for social responsibility and anti-money laundering failures.
The UK Gambling Commission chief Andrew Rhodes said the investigation revealed “serious failures,” and the penalty was the watchdog’s largest enforcement to date.
“There were completely unacceptable anti-money laundering and safer gambling failures. Operators are reminded they must never place commercial considerations over compliance.
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