Crim gang checks on bet apps

GAMBLING agencies Sportsbet and Bet365 have been ordered to appoint auditors amid concerns they are allowing organised crime syndicates to launder money.

Financial crime watchdog Austrac has been “extensively” monitoring the popular betting apps.

Austrac launched an investigation into Ladbrokes and Neds in September to ensure they were meeting anti-money laundering standards.

Australia’s online gambling market is worth $7bn a year.

Organised crime syndicates have been looking for new avenues to launder money after crackdowns on Crown and Star casinos across Australia.

“Austrac has ordered the appointment of external auditors under section 162 of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act) to assess compliance of two corporate bookmakers, Sportsbet Pty Ltd (Sportsbet) and Hillside (Australia New Media) Pty Limited (Bet365),” the agency said on Thursday.

Sportsbet and Bet365 have 180 days to report on whether they are tackling money laundering and terror financing risks.

They have also been ordered to scour their books for suspected dodgy punters who may have criminal links.

Sports betting companies have sophisticated software that can monitor punters.

They have the power to block successful punters who win too much on their platforms, sometimes closing accounts.

Austrac CEO Nicole Rose said the whole gaming industry was being put on notice.

“Ultimately, enforcing noncompliance is about protecting the community,” she said.

“Money laundering feeds organised crime and all the harm that comes with it.”