Ladbrokes owner reveals $100m provision for AUSTRAC fine
London-listed Entain is in mediation with the Australian Transaction Reports and Analysis Centre after its board and executive team were accused of failing to put in proper checks on how some of its biggest customers were financing yearly multi-million dollar betting.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

ABC News
8 minutes ago
- ABC News
UK police say 146 victims have come forward over Harrods boss Mohamed Al Fayed
British police say at least 146 people are being treated as victims of late billionaire Harrods boss Mohamed Al Fayed. In a statement to the ABC, the Metropolitan Police said it continued to call for more people to come forward with information to help its investigation, which was stood up in November. It followed reports in the British press of a video update by police which was sent to victims, in which they said that a number of further witnesses, both men and women, had come forward to give evidence. Al Fayed, who was a prominent figure in the UK, died in 2023 at the age of 94. The number of victims linked to the Egyptian billionaire has risen sharply since 21 people first came forward in September with allegations of sexual assault, including five who accused him of rape. It is also an increase on the last official number of 90 victims disclosed by the Metropolitan Police in November. A Metropolitan Police spokesperson told the ABC that the "live investigation into those who could have facilitated or enabled Mohamed Al Fayed's offending continues". The Metropolitan Police's investigation is also looking into who may have enabled and facilitated Al Fayed's abuse, and whether there was any misconduct or corruption involved. The ABC reported in October that at least six Australians were among those accusing Al Fayed. At the time, 421 people had contacted the accusers' legal team making various allegations about Al Fayed. Al Fayed owned the prominent Harrods department store, one of London's most popular tourist attractions, between 1985 and 2010. The store's new owners last year said they had settled civil claims with some of Al Fayed's accusers. The billionaire was a household name in the UK thanks to his wealth, eccentricity and connection to Princess Diana. His son Dodi Al Fayed was killed alongside Princess Diana in a Paris car crash in 1997.

Sydney Morning Herald
38 minutes ago
- Sydney Morning Herald
We've worked hard, got an education, found jobs. But it's not enough
Younger Australians have done what society told us to do. We've worked hard, got an education, and found jobs. Yet, that has not been enough for teachers, nurses, mechanics and countless other workers to achieve financial security. The social contract, the idea that a job is enough to feed and house a family, has been lost. A recent episode of the Diary of a CEO podcast highlighted a vital debate we need to have. It featured rockstar British economist Gary Stevenson and Daniel Priestley, an acclaimed Australian serial entrepreneur. The host, Steven Bartlett, asked both men what advice they would give to young people. Priestley suggested that we focus on entrepreneurship, as the digital economy offers incredible opportunities to create wealth. Stevenson disagreed, arguing that this advice is harmful because, if you can't get ahead, then it must be your fault. Instead, the economic problems we face are structural. Without reforming how our economy works, Stevenson argued, financial and business advice is like giving out stock tips on the Titanic. The most common story we do hear is the one promoted by Priestley, about individual financial success. It's pushed by social media finfluencers, tech bros, and self-help gurus who claim that the pathway to economic security is through speculative property investing, starting a dropshipping business, or investing in the latest cryptocurrency. Movements like 'girlboss' and 'quiet quitting' have sent the message that you have to save yourself in these tough economic times. The key to the social contract working, in whatever form, is that people feel their efforts are rewarded and that they believe the contract is fair. The contract, then, is hanging by a thread. The cultural dominance of individualism, however, perpetuates an economic system that is harming us. It means that avenues for collective action, such as union membership, political party involvement, and volunteering, are in decline. Policy debates pit winners against losers without considering what's best for everyone, and the government and its tax and transfer system are cast as a 'burden'. Loading In contrast, the postwar version of the social contract promoted the idea that, in return for contributing through work, care, and paying taxes, individuals had rights to essentials such as healthcare, housing, and employment security. You could find a stable job paying enough to feed and house your family, retire with a pension, and be assured that your children would have it better. A second version of the social contract was adopted in the 1980s and 1990s. It presented a more individualistic vision aimed at removing the 'shackles' of taxation and regulation. Tax rates on the wealthy were reduced, public services privatised and superannuation introduced to prioritise individual responsibility and private wealth accumulation.

The Age
38 minutes ago
- The Age
We've worked hard, got an education, found jobs. But it's not enough
Younger Australians have done what society told us to do. We've worked hard, got an education, and found jobs. Yet, that has not been enough for teachers, nurses, mechanics and countless other workers to achieve financial security. The social contract, the idea that a job is enough to feed and house a family, has been lost. A recent episode of the Diary of a CEO podcast highlighted a vital debate we need to have. It featured rockstar British economist Gary Stevenson and Daniel Priestley, an acclaimed Australian serial entrepreneur. The host, Steven Bartlett, asked both men what advice they would give to young people. Priestley suggested that we focus on entrepreneurship, as the digital economy offers incredible opportunities to create wealth. Stevenson disagreed, arguing that this advice is harmful because, if you can't get ahead, then it must be your fault. Instead, the economic problems we face are structural. Without reforming how our economy works, Stevenson argued, financial and business advice is like giving out stock tips on the Titanic. The most common story we do hear is the one promoted by Priestley, about individual financial success. It's pushed by social media finfluencers, tech bros, and self-help gurus who claim that the pathway to economic security is through speculative property investing, starting a dropshipping business, or investing in the latest cryptocurrency. Movements like 'girlboss' and 'quiet quitting' have sent the message that you have to save yourself in these tough economic times. The key to the social contract working, in whatever form, is that people feel their efforts are rewarded and that they believe the contract is fair. The contract, then, is hanging by a thread. The cultural dominance of individualism, however, perpetuates an economic system that is harming us. It means that avenues for collective action, such as union membership, political party involvement, and volunteering, are in decline. Policy debates pit winners against losers without considering what's best for everyone, and the government and its tax and transfer system are cast as a 'burden'. Loading In contrast, the postwar version of the social contract promoted the idea that, in return for contributing through work, care, and paying taxes, individuals had rights to essentials such as healthcare, housing, and employment security. You could find a stable job paying enough to feed and house your family, retire with a pension, and be assured that your children would have it better. A second version of the social contract was adopted in the 1980s and 1990s. It presented a more individualistic vision aimed at removing the 'shackles' of taxation and regulation. Tax rates on the wealthy were reduced, public services privatised and superannuation introduced to prioritise individual responsibility and private wealth accumulation.