An Austrac report seen by the Australian Financial Review detailed failures which occurred at its Neds and Ladbrokes AUS brands, and the group’s subsequent exposure to money laundering liabilities and fraud by criminal accounts.
According to the report, Austrac alleged that the company fell way short in its AML procedures specifically around betting activity of players that had significant links to drug trafficking.
The Austrac allegations assert that Entain failed to take action in spite of knowing that the player in question was a wanted suspect when it came to the global drugs trade.
It’s alleged the company failed with its intervention process, even when the player had wagered in excess of $1 million over a year-long period.
Incidents between 2015 and 2022 saw Entain accused of elevating the risk and vuln..