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Entain faces Australian probe over its AML obligations, financial-crime watchdog announces

( September 12, 2022, 00:58 GMT | Official Statement) -- MLex Summary: Entain Group is being investigated by Australia’s financial-crime watchdog, which announced today that the probe would focus on whether the global sport-betting and gaming giant had complied with its obligations under the country anti-money laundering legislation. In a statement today, the Australian Transaction Reports and Analysis Center said that reporting entities had “a responsibility to ensure they identify, assess and manage risks of money laundering and terrorism financing” and needed to “develop adequate process and devote the necessary resources to comply with their [AML] obligations." However, Austrac provided no further information about the probe targeting Entain. The company says it is cooperating with the investigation. The full Austrac statement follows; Entain's response is attached. ...

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