Australian regulator investigates Tabcorp’s activities

The gaming company is seemingly accused of “money laundering.”

Tabcorp is one of the biggest gaming operators in the international market.

Australia.- The Australian gaming operator, Tabcorp and the Australian Transaction Reports and Analysis Centre –Austrac– will have to testify in Federal Court for “dirty money” charges. The regulator from the national government’s anti-money laundering section accused the entities of hiding information about false accounts.

Over 30 TAB supposed players generated constant revenues to Tabcorp, whilst the government regulator discovered that they were false and used for an apparent fraudulent filter of credit card funds and organised crime. Tabcorp is also facing investigations for its activities in Cambodia. Elmer Funke Kupper, former CEO of the company and member of the board, was accused of bribery the Cambodian Prime Minister, Hu Sen, in order to develop gaming industry in the country.

The court hearing was set for next September, but it has been delayed until June 6, 2017. In November of last year, Tabcorp established a new risk department as a sign of collaboration with the Australian justice. The recent changes lead to the resignation of Kerry Willcock, senior executive and head of corporate, legal and regulatory. Austrac is expected to present in the following months additional examples of Tabcorp’s breaches

“Tabcorp advises that today Austrac has been granted leave to file an amended Statement of Claim, containing further alleged contraventions under Tabcorp’s former anti-money laundering and counter-terrorism financing program, which are of a similar nature to those already in issue in the proceedings. Tabcorp will file its response in relation to the amended statement of claim in accordance with the court timetable,” the company stated.