Bet365 Australia Agrees to Remediation Plan Following Austrac AML/CTF Review

Hillside (Australia New Media) Pty Ltd, the Australian entity of Bet365, has entered into an enforceable undertaking with the Australian Transaction Reports and Analysis Centre (Austrac). This agreement follows an investigation by the financial intelligence agency into Bet365's anti-money laundering and counter-terrorism financing (AML/CTF) controls, revealing several deficiencies.

Austrac first flagged concerns regarding Bet365's AML procedures in August 2022, leading to a mandated external audit by November of the same year. The comprehensive review, which included a compliance assessment and external audits, scrutinized Bet365's AML/CTF practices spanning from July 1, 2016, to November 2, 2022. Subsequent audit findings, including reports from September 2023 and an independent review in February 2025, confirmed substantial gaps in the operator's compliance framework.

Identified Compliance Shortcomings

The regulator’s reports highlighted Bet365’s failure to maintain an adequate AML/CTF program, which constitutes a breach of section 81 of the AML/CTF Act. Furthermore, Austrac identified a noticeable absence of ongoing customer due diligence (OCDD) for certain clientele. Bet365 has formally acknowledged these issues and voluntarily committed to undertaking the necessary remedial actions under section 197 of the Act.

As part of the agreed remediation plan, Bet365 is required to complete a revised money laundering, terrorism financing, and proliferation financing (ML/TF/PF) risk assessment. This initiative also encompasses an upgrade to its existing customer risk assessment models and the implementation of enhanced control documentation and testing protocols. These measures aim to strengthen the operator's capabilities in identifying and mitigating emerging risks.

Reporting and Broader Context

To ensure the effective implementation of these actions, Bet365 must submit a midway progress report to Austrac by December 31, 2026. A final auditor report, confirming the full implementation of all remedial actions, is due by July 30, 2027. The enforceable undertaking will remain active until Austrac formally cancels it or Bet365 chooses to withdraw.

Commenting on the importance of robust compliance, Austrac Chief Executive Brendan Thomas stated, "Corporate bookmakers must have robust systems in place to ensure they can manage and mitigate risks associated with money laundering and terrorism financing."

This development comes as Austrac continues its vigilance across the iGaming sector. In a separate action, the agency initiated civil penalty proceedings against Entain in December 2024, citing similar AML/CTF failings. While Entain acknowledged certain deficiencies, it also disputed some of Austrac’s allegations in that case.