Online gambling firm bet365 is being investigated by the Australian financial crime watchdog AUSTRAC into whether it has complied with anti-money laundering and counter-terrorism financing laws.
AUSTRAC is charged with making sure casinos and betting companies have frameworks in place to ensure they do not benefit from any criminal proceeds.
“Corporate bookmakers must have robust systems in place to ensure they can manage and mitigate risks associated with money laundering and terrorism financing,” said AUSTRAC CEO Brendan Thomas.
“Businesses without adequate processes in place to manage those risks leave themselves vulnerable to exploitation by criminals.”
