Banks and bookmakers tricked by ‘sophisticated’ gambling syndicate may have breached anti-money laundering laws

The government says banks and bookmakers are obliged to report suspicious activity to Austrac, the financial intelligence agency. Photograph: Karl Tapales/Getty Images

Banks and bookmakers that were hoodwinked by a gambling syndicate that created multiple accounts in other people’s names to hide their true identities may have breached their anti-money laundering obligations.

Guardian Australia has confirmed a gambling syndicate paid $1,000 to desperate men for their ID documents, which were used to create multiple bank and betting accounts in their names. Cash was deposited into these bank accounts and gambled with at least nine bookmakers.