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AUSTRAC is investigating Entain Group’s AML controls

AUSTRAC commences investigation into Entain Group Pty Ltd

12 Sep 2022

AUSTRAC has commenced an enforcement investigation into Entain Group Pty Ltd.  This follows an extensive supervisory campaign that assessed entities within the corporate bookmakers sector.  The investigation will focus on whether Entain has complied with its obligations under the AML/CTF Act.

AUSTRAC Chief Executive Officer, Nicole Rose, said all reporting entities including those in the corporate bookmakers sector, must take seriously their role in combatting 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 with their AML/CTF obligations” Ms Rose said.

AUSTRAC has a range of regulatory tools and enforcement powers available to it and will not hesitate to take action where suspected non-compliance is identified.

AUSTRAC’s supervisory campaign with the corporate bookmakers sector may lead to other areas of focus in this sector.

As the investigation is ongoing, AUSTRAC is unable to comment any further at this time.

Link:

AUSTRAC Notice

Categories: Anti-Money Laundering AUSTRAC Updates Enforcement Actions Investigations

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