AUSTRAC CEO warns the gambling sector remains highly vulnerable to sophisticated ML, urging firms to move beyond box-ticking compliance, fix systemic control failures, and brace for tougher, risk-based enforcement 

AUSTRAC warns in its “Regulating the Game” speech that the gambling sector remains highly exposed to money laundering risks and must move beyond box-ticking compliance, as CEO Brendan Thomas calls for stronger leadership, robust risk assessments, and effective AML/CTF controls, stressing that firms must take genuine responsibility for preventing criminal exploitation while preparing for stricter enforcement and a more proactive, risk-based regulatory approach under upcoming reforms…