By Sneha Kumar
AUSTRALIA’S biggest gambling firm Tabcorp has come under regulatory scrutiny over its anti-money laundering and counter-terrorism financing processes, triggering a 28% drop in its shares on Thursday in their worst intraday trade to date.
Tabcorp said that AUSTRAC (Australian Transaction Reports and Analysis Centre) had identified “serious concerns” over its ability to identify, mitigate and manage money-laundering and terrorism-financing risks effectively.
Subscribe now to have unlimited access
With our membership subscription, you will have unlimited access to the AML Intelligence site, updated daily with the latest analysis, opinion, and breaking news across the sector, newsletter delivered twice per week, access to our Global Bank Fines & Penalties database, free access to Boardroom Series and more!