AUSTRAC has finalised its enforceable undertaking with Sportsbet Pty Ltd (Sportsbet) after the company addressed serious deficiencies in its anti-money laundering and counter-terrorism financing (AML/CTF) controls.
AUSTRAC CEO Brendan Thomas said the outcome reinforces AUSTRAC’s expectation that reporting entities take immediate and sustained action to meet their legal obligations.
“When AUSTRAC identifies systemic weaknesses in a reporting entity’s AML/CTF controls, we will take enforcement action to ensure those issues are addressed,” he said.
AUSTRAC finalises enforceable undertaking with Sportsbet
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