Bet365’s Australian subsidiary, Hillside (Australia New Media) Pty Ltd, has committed to rectifying deficiencies in its anti-money laundering and counter-terrorism financing (AML/CTF) controls. This agreement follows an investigation by the Australian Transaction Reports and Analysis Centre (Austrac).
Austrac confirmed the establishment of a remediation plan, which was reached by both parties last week. The enforceable undertaking was accepted by Austrac's chief executive, Brendan Thomas, in early July 2025 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 initially raised by Austrac in August 2022, which led to a mandatory external audit by November of that same year. At the time, Brendan Thomas remarked that corporate bookmakers must have stringent systems in place to effectively manage risks tied to money laundering and terrorism financing. He cautioned that businesses lacking sufficient processes render themselves susceptible to criminal exploitation.
Subsequent audit findings, including a report dated September 12, 2023, and an independent review from February 2025, highlighted serious deficiencies in the operator’s compliance framework.
Among the key findings was Bet365's failure to maintain an adequate AML/CTF program, which violates section 81 of the AML/CTF Act. The audit also revealed an absence of ongoing customer due diligence (OCDD) for specific customers.
In response to these findings, Bet365 formally acknowledged the issues and voluntarily agreed to undertake corrective actions as per section 197. This includes completing a revised assessment of risks pertaining to money laundering, terrorism financing, and proliferation financing (ML/TF/PF). The operator will also need to enhance customer risk assessment models and implement improved control documentation and testing measures.
Austrac has mandated that a final auditor’s report be submitted by July 30, 2027, to affirm the complete execution of the remedial actions. Additionally, a midway report on progress must be provided by December 31, 2026.
Austrac's expectations for the remediation involve advancements in AML/CTF reform and better identification and management of emerging risks. The enforceable undertaking will remain active until Austrac formally cancels it or Bet365 withdraws.
In a related matter, in December 2024, Austrac initiated civil penalty proceedings against Entain due to similar AML and CTF compliance failings. The operator recognized certain deficiencies in its former AML/CTF compliance program but contested some of the claims and interpretations proposed by Austrac in its case.
