Bet365’s Australian arm, Hillside (Australia New Media) Pty Ltd, has agreed to overhaul its anti-money laundering and counter-terrorism financing (AML/CTF) controls after a review by the Australian Transaction Reports and Analysis Centre (Austrac). Both parties have settled on a remediation plan following Austrac’s investigation. This enforceable undertaking was accepted by Austrac’s chief executive Brendan Thomas in early July 2025, and it comes on the heels of a compliance assessment that spanned from July 2016 to November 2022.
In This News
Compliance Concerns and Regulatory Actions
Austrac initially voiced concerns in August 2022, mandating an external audit to scrutinize Bet365’s AML/CTF practices. The November 2022 audit flagged major shortcomings. Austrac’s leadership stressed that corporate bookmakers need strong systems to mitigate money laundering and terrorism financing risks. Despite the expressed commitment from Bet365, audits from September 2023 and February 2025 highlighted major gaps in compliance. The main findings revealed a breach of section 81 of the AML/CTF Act due to Bet365 not maintaining an adequate program. Moreover, there was an absence of ongoing customer due diligence for some clients. Bet365 has acknowledged these issues and agreed to a remediation plan compliant with section 197.
Planned Remedial Actions
To address these deficiencies, Bet365 is set to complete a revised risk assessment concerning money laundering, terrorism financing, and proliferation financing (ML/TF/PF). they’re expected to upgrade customer risk assessment models and implement enhanced control documentation and testing measures. A final report verifying the completion of these remedial actions is due to Austrac by July 30, 2027. Additionally, a progress update is required by December 31, 2026. Austrac’s expectations include reforms in AML/CTF initiatives and improvements in identifying and mitigating new risks. Still, this enforceable undertaking will remain in effect until formally revoked by Austrac or withdrawn by Bet365.
Broader Industry Impact
This isn’t an isolated incident — Bet365’s situation mirrors regulatory challenges faced by other operators. In December 2024, Austrac initiated civil penalty proceedings against Entain over comparable AML/CTF issues. While Entain admitted to “certain deficiencies,” they disputed some of Austrac’s claims. The regulatory body has been increasingly vigilant, and operators are feeling the heat to shore up their compliance frameworks. Still, the ongoing scrutiny underscores the tightening regulatory market in Australia. Bookmakers and gambling operators are under pressure to demonstrate that they can effectively thwart financial crimes — a priority that regulators have flagged as critical.
Next Steps and Industry Ramifications
The clock is ticking for Bet365 as they work toward the July 2027 deadline to implement all remedial actions. Whether the company can fully rectify its compliance framework remains to be seen. But one thing’s for sure — the increased oversight signals a clear message to operators nationwide. As Austrac continues its vigorous enforcement, industry watchers anticipate potential ripple effects, with other operators possibly facing similar scrutiny. The regulatory board is unlikely to ease its grip, suggesting that the industry should prepare for ongoing regulatory reviews and compliance audits.
Garry Sputnim is a seasoned journalist and storyteller with over a decade of experience in the trenches of global news. With a keen eye for uncovering stories that resonate, Alex has reported from over 30 countries, bringing light to untold narratives and the human faces behind the headlines. Specializing in investigative journalism, Garry has a knack for technology and social justice issues, weaving compelling narratives that bridge tech and humanity. Outside the newsroom, Garry is an avid rock climber and podcast host, exploring stories of resilience and innovation.
