Austrac launches the Entain survey

The government’s transactions watchdog has launched an enforcement investigation into betting group Entain following an assessment of its betting entities.

The Australian Transaction Reporting and Analysis Center (Austrac) will review whether Entain has complied with its anti-money laundering and anti-terrorist financing obligations.

Ladbrokes owner Entain is being investigated by Austrac.Credit:Getty Images

Entain, which operates in over 20 countries, offers sports betting, as well as online casinos, poker and bingo, in addition to operating major betting brands including Ladbrokes, Coral and BetMGM.

Austrac chief Nicole Rose said all reporting outlets, including bookmakers, must actively tackle serious and organized crime.

“Reporting entities have a responsibility to ensure they identify, assess and manage money laundering and terrorist financing risks, develop adequate processes and dedicate the necessary resources to comply,” Rose said.

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Entain confirmed Austrac’s decision and declared its intention to cooperate with the investigation which covers a historical period from July 2016 to June 2020.

Australia’s probe 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 head of the UK Gambling Commission, Andrew Rhodes, said the investigation revealed “serious failures” and the penalty was the watchdog’s biggest enforcement yet.


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