It is alleged that the operator had “serious and systemic non-compliance” with anti-money laundering and counter-terrorism financing (AML/CTF) laws.
Brendan Thomas, CEO of AUSTRAC, stated: “We allege that Entain failed to develop and maintain a compliant anti-money laundering programme and did not adequately identify or assess the risks it faced. This, in turn, left the company exposed to serious risks of criminal exploitation.”
The watchdog deems that Entain’s brands are vulnerable to criminal exploitation, including fraud, scams, and corruption. Allegations against Entain include:
A lack of appropriate oversight of its AML/CTF programme by the board and senior management.
Entain’s Australian brands being exposed to risks due to operating a 24/7 online platform accessible by unknown users and third-party providers.
Acceptance of cash deposits by..