Royal Mail takeover ‘gets government approval’; gambling firm Entain faces money-laundering lawsuit in Australia – business live
Rolling coverage of the latest economic and financial newsRevealed: the business dealings of Royal Mail bidder Daniel KřetínskýOver in Vilnius, the president of the European Central Bank has hinted that further interest rate cuts are likely in 2025.Christine Lagarde says the ECB will cut interest rates further if inflation continues to ease towards its 2% target.“If the incoming data continue to confirm our baseline, the direction of travel is clear and we expect to lower interest rates further”.“AUSTRAC’s proceedings allege that Entain did not develop and maintain a compliant anti-money laundering program and failed to identify and assess the risks it faced. We are alleging this left the company at serious risk of criminal exploitation.“Money laundering is often a symptom of serious criminal activity, including fraud, scams and corruption, all of which have equally serious effects on our communities.We have co-operated fully with AUSTRAC throughout its investigation and we are implementing further enhancements to Entain Australia’s AML and CTF compliance arrangements. Whilst we still have some further improvements to make, we expect these to be implemented in line with the plan we communicated to AUSTRAC in 2023.We are committed to keeping financial crime out of gambling and continue to play our part in supporting a well-regulated and compliant sector for our customers, stakeholders and the wider community.” Continue reading...
Rolling coverage of the latest economic and financial news
Over in Vilnius, the president of the European Central Bank has hinted that further interest rate cuts are likely in 2025.
Christine Lagarde says the ECB will cut interest rates further if inflation continues to ease towards its 2% target.
“If the incoming data continue to confirm our baseline, the direction of travel is clear and we expect to lower interest rates further”.
“AUSTRAC’s proceedings allege that Entain did not develop and maintain a compliant anti-money laundering program and failed to identify and assess the risks it faced. We are alleging this left the company at serious risk of criminal exploitation.
“Money laundering is often a symptom of serious criminal activity, including fraud, scams and corruption, all of which have equally serious effects on our communities.
We have co-operated fully with AUSTRAC throughout its investigation and we are implementing further enhancements to Entain Australia’s AML and CTF compliance arrangements. Whilst we still have some further improvements to make, we expect these to be implemented in line with the plan we communicated to AUSTRAC in 2023.
We are committed to keeping financial crime out of gambling and continue to play our part in supporting a well-regulated and compliant sector for our customers, stakeholders and the wider community.” Continue reading...
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