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Australia – AUSTRAC commences investigation into Entain Group

By - 13 September 2022

Australian Transaction Reports and Analysis Centre 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 combating serious and organized 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.

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