Financial crime regulator AUSTRAC will formally investigate whether British gambling company Bet365 is profiting from the proceeds of crime following a lengthy audit.
Bet365 is the second major international bookmaker to be investigated by AUSTRAC over the past two years. Rival Entain, which runs Neds and Ladbrokes, is still waiting on the outcome of a separate investigation into whether it breached anti-money laundering and counter-terrorism practices.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
