The British sports betting juggernaut Entain Plc is the subject of an inquiry by the Australian Financial Crimes Regulator to see if it complies with anti-money laundering and counter-terrorism funding regulations.
Without providing any additional information, the Australian Transaction Reports and Analysis Centre (AUSTRAC) stated that the enforcement inquiry was launched following a comprehensive supervisory campaign that covered the entire corporate bookmaking sector.
“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 Officer Nicole Rose said in a statement.
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