Australia’s financial watchdog has launched a probe into Entain Group to determine whether or not it complied with anti-money laundering (AML) and counter-terrorist financing (CTF) law.
Following an “extensive supervisory campaign,” the Australian Transaction Reports and Analysis Centre (AUSTRAC) has commenced an enforcement investigation.
The regulator’s Chief Executive, Nicole Rose, said all reporting entities must “take seriously their role in combatting serious and organised 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 stated.