On June 12, Flutter Entertainment revealed that it plans to remove its listing of ordinary shares from the London Stock Exchange (LSE), effective August 3, 2026.
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Flutter-owned Sportsbet clears AUSTRAC AML remediation
AUSTRAC has confirmed that Flutter-owned Sportsbet has completed its regulator-mandated anti-money laundering remediation program after the operator was found to have violated AML and counter-terrorism financing rules.
Sportsbet had accepted the enforcement action back in May 2024, according to which the company was ordered to improve risk management, customer monitoring, governance, and reporting measures. After verification from an independent external auditor, the agency revealed that Sportsbet successfully finalized the required changes.
CEO of AUSTRAC, Brendan Thomas, shared:
“When AUSTRAC identifies systemic weaknesses in a reporting entity’s AML/CTF controls, we will take enforcement action to ensure those issues are addressed. Sportsbet was required to undertake significant remediation to uplift its systems, controls, and governance. AUSTRAC is now satisfied those requirements have been met. Completion of an enforceable undertaking does not lessen our expectations. Businesses like Sportsbet operating in higher-risk sectors must maintain robust, risk-based systems to prevent criminal exploitation.”
AUSTRAC first launched the investigation in 2022 and, as part of a broader assessment into the online betting industry, instructed Sportsbet to appoint an external auditor.
Despite the completion of the remediation program, AUSTRAC stressed that it would continue to strictly monitor the operations of betting companies to ensure compliance with risk-based systems, as the industry is vulnerable to money laundering crimes.
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