Australia's financial watchdog to probe Entain unit over money-laundering concerns

(Reuters) - The Australian financial crimes regulator said on Monday it would investigate a unit of British betting group Entain Plc to assess whether it is in compliance with the country's anti-money laundering and counter-terrorism financing laws.

The enforcement investigation into Entain Group Pty follows an extensive supervisory campaign that examined entities within the corporate bookmakers sector, the Australian Transaction Reports and Analysis Centre (AUSTRAC) said.

"Reporting entities have a responsibility to ensure they identify, assess and manage risks of money laundering and terrorism financing, develop adequate processes and devote the necessary resources to comply with their AML/CTF obligations," AUSTRAC Chief Executive Officer Nicole Rose said.

Entain, which is the owner of top Australian sports betting brands Ladbrokes and Sportingbet and holds around one-sixth of the country's online betting market, did not immediately respond to a Reuters request for comment outside of working hours.

(Reporting by Sameer Manekar in Bengaluru; Editing by Rashmi Aich)