Bet365 is the latest corporate bookmaker to come under an enforcement investigation from Australia’s anti-money laundering and counter-terrorism financing regulator AUSTRAC.
The British-headquartered bookie, licenced in the Northern Territory as Hillside (Australia New Media) Pty Limited, will be further investigated by AUSTRAC over whether it benefited from proceeds of crime.
AUSTRAC CEO Brendan Thomas said betting agencies have a significant role to play in combating financial crime.
“Corporate bookmakers must have robust systems in place to ensure they can manage and mitigate risks associated with money laundering and terrorism financing,” Thomas said
“Businesses without adequate processes in place to manage those risks leave themselves vulnerable to exploitation by criminals.”
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