AUSTRAC opens enforcement investigation into Tabcorp’s AML compliance
AUSTRAC has opened an enforcement investigation into Tabcorp over its anti-money laundering and counter-terrorism financing compliance, the company disclosed on 7 May. The inquiry will initially examine the operator’s programme, its implementation and customer monitoring; Tabcorp said the investigation is at an early stage and all outcomes remain possible.
The investigation creates potential regulatory and compliance exposure for Tabcorp, although no enforcement outcome has been determined.