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AUSTRAC Takes Legal Action Against Entain Over Alleged Breaches of Australia's Money Laundering Laws

 
AUSTRAC Takes Legal Action Against Entain Over Alleged Breaches of Australia's Money Laundering Laws
AUSTRAC, Australia's financial intelligence agency, has initiated civil penalty proceedings against Entain Group Pty Ltd, the operator of major online betting platforms such as Ladbrokes and Neds, alleging serious and systemic non-compliance with the country’s anti-money laundering and counter-terrorism financing (AML/CTF) laws. The case, filed in the Federal Court on December 16, 2024, marks a significant moment as it is the first time AUSTRAC has pursued civil penalties against an operator in the online betting sector.
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AUSTRAC CEO Brendan Thomas accused Entain of systemic failures in its AML/CTF compliance. “Our proceedings allege that Entain failed to develop and maintain a compliant anti-money laundering program and did not adequately assess the risks it faced. This left the company vulnerable to criminal exploitation,” Thomas said.

The allegations include lapses in oversight by Entain's board and senior management, lack of proper customer verification processes, and the use of pseudonyms to obscure the identities of high-risk customers. AUSTRAC also pointed to risks stemming from third-party transactions and cash deposits, which could facilitate money laundering through Entain's betting platforms.

This case is part of AUSTRAC's broader crackdown on money laundering in Australia's gambling sector. Recent enforcement actions have resulted in significant penalties against other operators, including Crown Resorts and SkyCity, signaling AUSTRAC’s intent to hold the industry accountable.

The Federal Court will determine if Entain has contravened Australia’s AML/CTF Act. AUSTRAC emphasized the need for businesses in the online betting sector to prioritize compliance, with Thomas affirming, “We are committed to driving out money laundering opportunities in Australia’s gambling industry.”
18+ | Juegoseguro.es – Jugarbien.es
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