Home » Watchdog takes Ladbrokes owner to court for money laundering ‘failures’

Watchdog takes Ladbrokes owner to court for money laundering ‘failures’

Watchdog takes Ladbrokes owner to court for money laundering ‘failures’

The owner of Ladbrokes and Sportingbet is being taken to court by Australia’s financial crime watchdog over allegations of “systemic failures” in its approach to anti-money laundering and counterterrorism financing laws.

The Australian Transaction Reports and Analysis Centre (Austrac) has begun civil penalty proceedings against the Australian subsidiary of Entain, the FTSE 100 gambling giant.

The regulator, which first launched its investigation in September 2022, alleges that Entain breached the laws through its online betting platforms, leaving the company “at serious risk of criminal exploitation”.

Ladbrokes owner Entain wins big with online gambling in UK

Austrac claims that the subsidiary’s board and senior management did not have appropriate oversight and that the company did not conduct appropriate checks on 17 higher-risk customers, including where