In an investigation that has been announced by AUSTRAC, details will be compiled on whether Entain complied with the anti-money-laundering and counter-terrorism financing laws of Australia.
It comes as part of an “extensive supervisory campaign covering the whole corporate bookmaking sector”.
AUSTRAC didn’t share details as to the reasons for choosing to investigate Entain, nor which of the gambling group’s brands are under investigation.
Nicole Rose, Chief Executive of the watchdog, stated: “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.”
Undertaking its ‘supervisory campaign’, AUSTRAC warned bookmakers that it would “not hesitate” to take action where suspected non-compliance is identified.
The campaign will further identify areas in which Australian gambling operators should improve their AML protocols and standards.
This summer, Entain paid a regulatory settlement totalling £17m to the UK Gambling Commission (UKGC) for AML compliance failures related to its retail and online business recorded during 2019.
Entain responded to its UK settlement, underlining that previous compliance shortcomings had been resolved as its UK brands now operated under its new Advanced Responsibility and Care (ARC) programme, monitoring player transactions and behaviours through AI detection.Australia remains a key growth market for Entain, in which it operates the brand of Ladbrokes Australia and heritage racebook Neds International.