Tabcorp shares sink as AUSTRAC launches investigation over financial crime compliance concerns

Tabcorp is under investigation by Australia’s financial crimes watchdog AUSTRAC amid concerns over its ability to effectively manage risks related to money laundering and terrorism financing.

AUSTRAC confirmed the probe is in its early stages, with all potential outcomes still open, including the possibility that no enforcement action may ultimately be taken.

The investigation centres on whether Tabcorp has adequately identified, mitigated and managed financial crime risks within its operations.

Chief executive Gillon McLachlan addressed the situation, emphasising the company’s commitment to compliance.

“I am committed to leading a compliant and safe company that understands its risk obligations,” McLachlan said.

The review adds to increasing regulatory scrutiny across the wagering sector, as authorities continue to tighten oversight around financial crime prevention and responsible operations.