Austrac says probe ongoing into betting firm Entain Group





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The Australian Transaction Reports and Analysis Centre, the agency tasked with preventing, detecting and responding to criminal abuse of the financial system, has launched an investigation into sports betting and gaming company Entain Group.

In a statement, Austrac said the investigation came after what it described as “an extensive supervisory campaign that assessed entities within the corporate bookmakers sector”.

The agency said the investigation would focus on whether Entain had complied with its obligations under the AML/CTF Act.

Entain describes itself as “one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector”.

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“Tax residents in the UK, with operations in a total of 31 regulated or regulating territories, the Group employs a workforce of more than 25,000, in 20 offices across five continents,” it says on its website.

Austrac chief executive Nicole Rose said all reporting entities, including those in the corporate bookmakers sector, must take seriously their role in combatting 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” she said.

Austrac said there was no further comment at the moment as the investigation was continuing.

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