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The Guardian - AU
The Guardian - AU
National
Stephanie Convery

Financial watchdog launches investigation into Sportsbet and Bet365 over money laundering suspicions

bet365 Sportsbet Nicole Rose AUSTRAC Denise Coates Tabcorp
A man poses for a photograph with the online gambling website Bet365
Bet365 is a large online British gambling empire founded by the Coates family in 2000, with offices in Gibraltar, Malta, Bulgaria and Australia. Photograph: Paul Ellis/AFP/Getty Images

The Australian financial crime watchdog has launched an investigation into gambling companies Sportsbet and Bet365 on suspicions they have failed to comply with anti-money laundering laws.

The Australian Transaction Reports and Analysis Centre (Austrac) announced on Thursday that it had “reasonable grounds to suspect” Sportsbet and Bet365 had or were still contravening multiple sections of the anti-money laundering and counter-terrorism financing laws.

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