Entain Faces Legal Action in Australia Over Alleged Money Laundering Failures

The financial watchdog Austrac accuses the gambling giant of systemic non-compliance with anti-money laundering and counter-terrorism laws.

Austrac has initiated civil penalty proceedings against Entain, owner of brands like Ladbrokes and Neds, for alleged breaches of anti-money laundering and counter-terrorism financing laws in Australia.
The regulator claims Entain failed to conduct proper checks on 17 high-risk customers and deliberately obscured their identities using pseudonyms.
Third parties allegedly deposited funds into betting accounts on behalf of Entain in ways that could disguise proceeds of crime, according to Austrac.
Entain’s board and senior management are accused of insufficient oversight of its compliance programs, leaving the company vulnerable to criminal exploitation.
Entain acknowledges the allegations, pledges to improve compliance measures, and warns that potential penalties could be significant, though the outcome remains uncertain.