12th Sep 2022 09:06
(Alliance News) - Ladbrokes owner Entain PLC is under investigation in Australia for its compliance with the country's anti-money laundering laws.
"The investigation will focus on whether Entain has complied with its obligations under the [Anti-Money Laundering and Counter-Terrorism Financing Act]," the Australian Transaction Reports & Analysis Centre said on Monday.
This follows an "extensive" supervisory campaign assessing the corporate bookmakers sector, it said, which may lead to other areas of focus in this industry.
"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," Austrac Chief Executive Nicole Rose said.
The Australian probe comes a month after the UK Gambling Commission fined the Ladbrokes and Coral owner GBP17 million for its failures in social responsibility and anti-money laundering.
Entain shares were 0.4% lower at 1,214.50 pence each in London on Monday morning.
By Tom Budszus; [email protected]
Copyright 2022 Alliance News Limited. All Rights Reserved.
Related Shares:
Entain