Tag Archives: Austrac

The Australian division of sportsbook operator bet365 has landed in hot water by attracting unwanted attention from the country’s financial regulator AUSTRAC. According to the watchdog, the probe was launched based on reports of compliance shortcomings with Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). The latest is part of AUSTRAC’s ‘extensive supervisory campaign’ launched last year to …

Australia’s financial intelligence agency, AUSTRAC (Australian Transaction Reports and Analysis Centre), has stepped up its efforts against money laundering, particularly relating to the gambling sector. Spokespeople for the government agency revealed at the Regulate the Game 2023 conference this week that a new specialist unit has been created with a specific anti-money laundering (AML) in betting remit. Bradley Brown, AUSTRAC …

Entain Plc is to face an investigation into whether it has complied with the anti-money-laundering (AML) and counter-terrorism financing laws of Australia. The investigation has been announced by AUSTRAC – the Australian Transaction Reports and Analysis Centre – as part of an “extensive supervisory campaign covering the whole corporate bookmaking sector”. AUSTRAC provided no specific details as to why it …

AUSTRAC, the Australia financial intelligence unit is charging Tabcorp with failure to comply with anti-money laundering and counter terrorism financing laws. The penalty placed by the finance body, could see Tabcorp charged with an AUS $17 million fine, for failing to meet Australian anti-money laundering compliance laws and practices. AUSTRAC has stated to Australian media that it has gained a …