Hillside (Australia New Media) Pty Ltd, the Australian branch of Bet365, has committed to addressing deficiencies in its anti-money laundering and counter-terrorism financing (AML/CTF) measures. This agreement follows a compliance review by the Australian Transaction Reports and Analysis Centre (Austrac).
Austrac announced last week that the remediation plan has been mutually accepted by both parties involved.
The enforceable undertaking was accepted by Austrac's chief executive, Brendan Thomas, early in July 2025. This decision came after a compliance assessment and external audits scrutinized Bet365's AML/CTF practices from July 1, 2016, to November 2, 2022.
Concerns regarding Bet365 were first expressed by Austrac in August 2022, which led to a mandate for an external audit by November of the same year. During the audit, Thomas emphasized the need for corporate bookmakers to have stringent systems in place to effectively manage risks linked to money laundering and terrorism financing. He noted, "Businesses without adequate processes in place to manage those risks leave themselves vulnerable to exploitation by criminals."
Further audits, including a report dated September 12, 2023, and an independent review conducted in February 2025, revealed significant flaws within the company's compliance framework.
Key findings from Austrac's reports indicated that Bet365 failed to sustain an appropriate AML/CTF program, breaching section 81 of the AML/CTF Act. There was also a notable absence of ongoing customer due diligence (OCDD) for some clientele.
Bet365 has officially acknowledged these issues and has voluntarily committed to implement remedial measures under section 197.
As part of its obligations, Bet365 will conduct a revised risk assessment addressing money laundering, terrorism financing, and proliferation financing (ML/TF/PF). This will also involve enhancements to customer risk assessment models and the establishment of refined control documentation and testing procedures.
By July 30, 2027, the operator is required to submit a final auditor report to Austrac confirming that all remedial actions have been enacted. Additionally, a midway progress report is to be delivered by December 31, 2026.
Austrac's expectations for remediation include advancing towards AML/CTF reforms and improving the identification and mitigation of emerging risks. The enforceable undertaking will remain in effect until it is officially canceled by Austrac or withdrawn by Bet365.
In another development, in December 2024, Austrac initiated civil penalty proceedings against Entain for similar failings related to AML and CTF compliance. In a statement issued last December, Entain acknowledged specific deficiencies in its previous compliance program but contested various allegations and interpretations made by Austrac.
