Australia's financial crime regulator, AUSTRAC, has initiated a formal investigation into Bet365, a British gambling company, over concerns of profiting from the proceeds of crime following a lengthy audit. This action follows broader scrutiny of the gambling sector in Australia, including virtual and electronic advertisements for illegal gambling companies on Foxtel, identified in a Four Corners investigation, and a contentious NT gambling bill consultation process criticized for involving only one harm reduction group alongside 28 betting companies. Gamblers in the region are '25% more likely to suffer harm'. The investigation targets potential avenues for money laundering within the gambling industry, including casinos and gaming companies, as part of AUSTRAC's crackdown on financial crimes. Brendan Thomas, CEO of AUSTRAC, emphasized that businesses without adequate processes are 'vulnerable to exploitation by criminals'.
🔴 Britain’s best-paid woman faces financial crime investigation into gambling empire https://t.co/tmse5nsSIt
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Indigenous leader accuses NT government of ‘clear conflict of interest’ with online gambling industry https://t.co/GFuvp1yI0Q
We are pleased to be working with @SpeechUnion, @anyabike of @OldSqChambers and Andrew Deakin of @39EssexChambers on this important case for freedom of speech. https://t.co/KQJ4bVJP9o
"Businesses without adequate processes in place to manage those risks leave themselves vulnerable to exploitation by criminals," said Brendan Thomas, the CEO of the Australian Transaction Reports and Analysis Centre (Austrac). https://t.co/HH0RzuxYzh
Austrac is targeting the gambling sector, including casinos and gaming companies, as part of a crackdown on potential avenues for criminals to launder money https://t.co/vuZl4Mtb4E
Bet365 faces probe by Australia’s anti-money laundering watchdog https://t.co/2sJaTVQ28l
Online gambling firm Bet365 probed in Australia https://t.co/smyHkdqexb
Financial crime watchdog AUSTRAC has launched an investigation into online gambling site Bet365 over concerns it may be "vulnerable to exploitation by criminals". https://t.co/v8YdSGltXr
Australia's financial crime regulator AUSTRAC will formally investigate whether British gambling company Bet365 is profiting from the proceeds of crime following a lengthy audit: https://t.co/P6XfLAqa21
Only one harm reduction group and 28 betting companies consulted over contentious NT gambling bill https://t.co/5ZqaR9MyW0
Gamblers in the West Midlands '25% more likely to suffer harm' https://t.co/xipdHg5ga4
Gamblers in region '25% more likely to suffer harm' https://t.co/vFqqgl8yFO
Foxtel displayed virtual and electronic ads for illegal gambling companies, including an offshore bookmaker identified in a Four Corners investigation last year. https://t.co/m524iRPmFj
Today in: Blatant conflict of interests. I find it both hilarious and disturbing that publishers in Australia - who have a clear financial incentive - feel comfortable lobbying government via their editorial pages. https://t.co/nFj2xoNkFa