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NEWS: Entain failed to act on money laundering warning signs, says AUSTRAC

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y PAUL O’DONOGHUE, Senior Correspondent

THE British bookmaker Entain, owner of the Ladbrokes gambling brand, allegedly failed to act on warning signs of suspected money laundering, allowing high-risk customers to wager millions.

Court filings from the Australian Transaction Reports and Analysis Centre (AUSTRAC) show how Entain did not cut off a customer who bet more than $1 million in a single year, despite receiving funds from an internationally wanted criminal. Another customer allegedly gambled over $20 million between 2015 and 2022 while being wrongly identified as a car yard owner despite being unemployed.

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NEWS: GDPR revamp should tackle fincrime, online scams – MEP tells EU Commissioner

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NEWS: FATF Secretariat retreat launched in Abu Dhabi

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