Tabcorp appoints former AUSTRAC chief to lead AML probe response

Paul Jevtovic will oversee the operator’s response to the AUSTRAC investigation into alleged anti-money laundering and counter-terrorism financing compliance failures.

Australia.- Tabcorp has appointed former AUSTRAC chief Paul Jevtovic to lead the company’s response to AUSTRAC’s investigation into its anti-money laundering (AML) and counter-terrorism financing (CTF) systems. He will chair the oversight committee and work to enhance Tabcorp’s financial crime framework, te company said.

Jevtovic served as AUSTRAC CEO between 2014 and 2017, including during a case against Tabcorp that resulted in a record AU$45m civil penalty over AML breaches. More recently, he served as chief of financial crime risk at National Australia Bank.

According to media reports, Tabcorp CEO Gillon McLachlan highlighted Jevtovic’s “exceptional executive experience”.

“His track record overseeing AML programs globally and across some of Australia’s largest organisations will be invaluable as we strengthen our capabilities,” he said.

AUSTRAC said the investigation would initially focus on Tabcorp’s AML/CTF program, compliance procedures and customer monitoring practices, particularly linked to cash and voucher betting activity. Tabcorp has stated that it is cooperating with the investigation and remains committed to improving its AML and CTF controls.

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Paul Jevtovic will oversee the operator’s response to the AUSTRAC investigation into alleged anti-money laundering and counter-terrorism financing compliance failures. Australia.- Tabcorp has appointed former AUSTRAC chief Paul Jevtovic to lead the company’s response to AUSTRAC’s investigation into its anti-money laundering (AML) and counter-terrorism financing (CTF) systems. He will chair the oversight committee and work…