Betting company Tabcorp is being investigated by Australiaโs anti-money laundering regulator over โserious concernsโ 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.
โI am committed to leading a compliant and safe company that understands its risk obligations,โ Tabcorp managing director and chief executive officer Gillon McLachlan said,
โUplifting our risk capability has been an ongoing part of the Companyโs transformation and we will work constructively with AUSTRAC through this process.โ
Elias Visontay is a National Consumer Affairs Reporter at The Sydney Morning Herald and The Age.Connect via email.
