Overview
- Australia’s financial intelligence agency AUSTRAC, which polices money laundering and terrorism financing, opened an enforcement investigation into Tabcorp on Thursday that centers on its program design, day-to-day compliance, and how it monitors customers.
- Tabcorp disclosed to the ASX that it received AUSTRAC’s letter and said it will cooperate, with CEO Gillon McLachlan and chairman Brett Chenoweth pledging to keep lifting the company’s risk controls.
- The company described the review as early stage and said all outcomes remain possible, including no further action.
- The inquiry revisits a known vulnerability for the wagering group, which faced civil action in 2015 and paid A$45 million in 2017 to settle a case with AUSTRAC.
- Any findings could prompt tighter checks on bettors or lead to fines, reflecting how gambling platforms draw extra scrutiny because large cash flows can help criminals move funds.