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Australia’s monetary crime watchdog has launched authorized motion in opposition to Ladbrokes proprietor Entain, alleging the FTSE 100 playing firm breached the nation’s anti-money laundering guidelines.
The Australian Transaction Studies and Evaluation Centre (Austrac) mentioned on Monday that Entain did not establish and assess anti-money laundering dangers and was in “severe and systemic non-compliance” with the principles.
The motion follows an investigation opened in 2022 and is the primary time the regulator has taken “civil penalty proceedings” in opposition to an internet betting firm, mentioned Austrac.
The regulator alleged that Entain didn’t have applicable controls to substantiate the id of shoppers and the supply of their cash.
The FTSE 100 group created dangers that individuals unknown to the corporate may entry and use its betting platform together with by third-party suppliers, added the regulator.
Entain mentioned it had co-operated with Austrac all through its investigation and that “while the end result of the civil penalty proceedings in opposition to Entain Australia is unsure, it might lead to a penalty being levied which might be probably materials”.
The corporate mentioned the proceedings “could take a while”.
