Financial crimes watchdog AUSTRAC has launched an investigation into UK-based global gambling giant Entain, the owner of online betting platform Ladbrokes, over claims it was not appropriately managing the risks of crime, including money laundering and terrorism financing. Last month, the company was fined $28 million by the UK’s Gambling Commission over similar concerns, and it now faces fines of up to $22 million here if there have been breaches if its gambling licence. Entain says it is cooperating with the investigation and that the probe relates to activity between July 2016 and June 2020. The company certainly has its hands full – it’s going head-to-head with rival Tabcorp for state wagering licences in Western Oz and Victoria.