Entain will be investigated to determine whether it has met its obligations under the AML\/CTF Act.<\/p>\n\n\n\n\n\n\n\n
Australia.- The Australian Transaction Reports and Analysis Centre<\/strong> (AUSTRAC) has announced that it has commenced an enforcement investigation into Entain Group Pty Ltd following. The investigation will focus on whether Entain has complied with its obligations under the AML\/CTF Act<\/strong>.<\/p>\n\n\n\n AUSTRAC said it took the decision to investigate Entain following extensive supervision assessing the corporate bookmaker sector.<\/p>\n\n\n\n Nicole Rose<\/strong>, AUSTRAC\u2019s chief executive officer, said: \u201cReporting entities have a responsibility to ensure they identify, assess and manage risks of money laundering and terrorism financing, develop adequate processes and devote the necessary resources to comply with their AML\/CTF obligations.\u201d<\/p>\n\n\n\n According to local media reports, the AUSTRAC investigation could result in an AU$22m fine and more regulations for Entain’s Ladbrokes. Entain was recently fined a record \u00a317m<\/a> by Britain’s gambling commission for regulatory failings.<\/p>\n\n\n\n In November last year, the UK-based company was fined A$26,690 (US$19,071)<\/a> by the Northern Territory Racing Commission (NTRC) for breaching the 2019 Northern Territory Code of Conduct for Responsible Services in Online Gambling. Entain had allowed its representatives to use businesses cards with QR codes <\/strong>to activate a series of bonus cash promotions by signing up at Entain subsidiary Neds.<\/p>\n\n\n\n The Code of Practice prohibits sportsbooks from giving bonus cash incentives for registering a new account. Entain claimed the QR bonus offer complied with the NT code but the regulator said the QR code was equivalent to a gambling incentive because it encouraged players to register for a Neds account.<\/p>\n\n\n\n In 2021,\u00a0Entain<\/a>\u00a0tried to buy Tabcorp\u2019s wagering and media business. However,\u00a0Tabcorp<\/a>\u00a0finally decided to spin-off its businesses into two separate companies.<\/p>\n","protected":false},"excerpt":{"rendered":" Entain will be investigated to determine whether it has met its obligations under the AML\/CTF Act.<\/p>\n","protected":false},"author":176,"featured_media":18728,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Entain Group Pty Ltd is currently under an enforcement investigation by the Australian Transaction Reports and Analysis Centre (AUSTRAC) for potential breaches of its Anti-Money Laundering and Counter-Terrorism Financing (AML\/CTF) obligations. This follows extensive supervision of the corporate bookmaker sector and previous significant regulatory fines against Entain in the UK and Australia for compliance and responsible gambling failings. The ongoing investigation could result in an AU$22m fine, underscoring persistent regulatory scrutiny on the global operator's governance frameworks.","focusai_entities":"Entain Group Pty Ltd, AUSTRAC, Nicole Rose, Britain's gambling commission, Northern Territory Racing Commission, Ladbrokes, Neds, Tabcorp","focusai_location":"Australia, United Kingdom, Northern Territory","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), affiliate_publisher (0.7), payments_fraud_aml (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"AUSTRAC fine impact?","query":"What is the projected financial and operational impact of a potential AU$22m AUSTRAC fine on Entain's Australian market strategy and its broader global compliance expenditure?"},{"label":"Regulatory compliance trends?","query":"How do these successive regulatory enforcement actions against Entain in multiple jurisdictions reflect evolving global standards for AML\/CTF and responsible gambling, and what implications does this have for other tier-one operators?"}],"footnotes":""},"categories":[16336,156,158],"tags":[23793,24207],"class_list":["post-33413","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","category-slider-home","tag-austrac","tag-entain"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33413","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=33413"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33413\/revisions"}],"predecessor-version":[{"id":33438,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33413\/revisions\/33438"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18728"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33413"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33413"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33413"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}