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AUSTRAC orders bet365 to strengthen AML controls in Australia

Regulation

Australia’s AUSTRAC said bet365 entered a legally binding enforceable undertaking on 6 July after an investigation triggered by an independent audit. The undertaking requires the company to improve risk assessments and the detection and reporting of suspicious transactions; breaches may lead to civil penalties.

The enforceable undertaking requires bet365 to strengthen AML controls, with civil penalties possible for breaches.

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