Betfair Calls Reported Connection to UK Terrorism Plot 'Simply Incorrect'

11 July 2007

This morning, Betfair, which, last week, was listed in U.S. media reports in connection with a 2005 terrorism plot in the United Kingdom, called the reports "simply incorrect."

The company took issue with a report carried by the Washington Post Friday, alleging that the suspects--all three of whom were handed prison terms last week--had successfully laundered money through Betfair's site.

"A number of attempts were made to use Betfair's site fraudulently, but they were unsuccessful; they were identified; accounts were closed; and all relevant information was shared with the police," the company said in a prepared statement.

"It is simply incorrect to say in respect of Betfair that 'winnings were withdrawn and transferred to online bank accounts under their [the terrorists'] control," the statement added.

Betfair said it had cooperated with the relevant authorities during the investigation and are continuing to do so as necessary.

Click here to view a copy of Betfair's statement regarding the allegations.