On the grounds that Sportsbet and Bet365 may not have complied with anti-money laundering regulations, the Australian Financial Crime Watchdog has opened an inquiry against both gaming businesses.
In a statement released, the Australian Transaction Reports and Analysis Centre (Austrac) stated that it had “reasonable grounds to suspect” that Sportsbet and Bet365 had violated or were presently violating certain anti-money laundering and counter-terror financing regulations.
There will be an investigation into the alleged noncompliance by external auditors. For failing to disclose more than 100 suspicious activity that could be related to money laundering or credit card fraud, Austrac fined Tabcorp a record $45 million in 2017.
The federal government announced new consumer protection regulations that would compel online gaming operators to use taglines in their ads.