The Australian Financial Intelligence Unit (Austrac) has initiated a “law enforcement inquiry” into Entain concerning anti-money laundering (AML) and counter-terrorism financing (CTF) worries, cautioning that other operators might be examined.
Austrac stated in a release that the inquiry follows a “comprehensive regulatory action” into Entain’s operations. The agency will evaluate whether Entain has adequately adhered to its responsibilities under Australia’s AML/CTF Act.
Austrac chief Nicole Rose highlighted that all businesses, including those in the gambling sector, must comply with AML and CTF requirements to combat serious crime.
Rose emphasized: “Reporting entities have a duty to ensure they identify, assess and manage the risks of money laundering and terrorism financing, develop suitable processes, and invest the necessary resources to fulfill their AML/CTF obligations.”
Austrac also stated that the inquiry into Entain could lead to further investigations into other gambling companies in Australia.
The agency added that it could not provide further details on the matter at this time.
Less than a month ago, Entain was penalized £17 million (€20.3 million/$20 million).
The United Kingdom Gambling Commission (UKGC) has levied a £17 million penalty on Entain for failing to fulfill its social responsibility and anti-money laundering obligations.
Entain’s online gambling brands, including Coral.co.uk and Foxybingo.com, which are managed by LC International Limited, were slapped with a £14 million fine.
Entain’s retail betting chain, Ladbroke’s Betting & Gaming Limited, was hit with the remaining £3 million penalty.
Sign up for the iGaming newsletter.