Betting company Tabcorp is being investigated by Australia’s anti-money laundering regulator over “serious concerns” in its ability to prevent illegal activity on its platform.
On Thursday morning, Tabcorp told the ASX it had received a letter from AUSTRAC that it had launched an investigation into its compliance with anti-money laundering and counterterrorism financial obligations.
“I am committed to leading a compliant and safe company that understands its risk obligations,” Tabcorp managing director and chief executive officer Gillon McLachlan said,
“Uplifting our risk capability has been an ongoing part of the Company’s transformation and we will work constructively with AUSTRAC through this process.”
Elias Visontay is a National Consumer Affairs Reporter at The Sydney Morning Herald and The Age.Connect via email.From our partners
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