Last updated on September 18th, 2022 at 10:55 am
Australian federal agents started investigating the corporate wagering giant that owns bookie firm Ladbrokes. The Australian Transaction Reports and Analysis Center looks at possible violations of the country’s anti-money laundering and terrorism financing law.
The AUSTRAC is investigating the Entain Group for money laundering charges. However, according to the best pay per head bookie, the investigation is still in its early phase. Also, it isn’t clear whether the company committed any violations.
The AUSTRAC can impose fines on firms that break the law. Also, there’s a possibility the investigation can result in criminal charges. According to internet gambling news reports, the Act requires companies to identify their clients. In addition, they should report suspicious transactions to authorities.
Owner of Bookie Firm Ladbrokes Under Investigation
Entain’s UK activities were, as of late, expected to pay what could be compared to $28m to the English Betting Commission for penetrating the states of its betting permit.
According to bookie software reports, Entain flopped in its social obligations by not enough resolving issue betting, including by neglecting to speak with or attempt to stop a web-based client who kept $390,000 in a year and a half, as per the Commission.
Entain said that specialists had found no proof of criminal spending in its activity in light of the UK settlement and added that it had changed its protected betting practices since the breaks happened.
In 2013, Entain opened its Australian form of Ladbrokes. In 2018, the conglomerate obtained the Australian wagering site Neds.
