Bet365's Australian subsidiary, Hillside (Australia New Media) Pty Ltd, has committed to addressing weaknesses in its anti-money laundering and counter-terrorism financing (AML/CTF) measures after a review by the Australian Transaction Reports and Analysis Centre (Austrac). This decision comes as part of an agreed remediation plan between both parties, as announced by Austrac last week.
The enforceable undertaking, approved by Austrac’s chief executive Brendan Thomas in July 2025, follows a compliance evaluation and external audits that scrutinized Bet365's AML/CTF practices from July 1, 2016, to November 2, 2022.
Austrac initially flagged concerns regarding the company in August 2022, leading to a mandate for an external audit by November 2022. At that time, Brendan Thomas remarked, "Corporate bookmakers must have robust systems in place to ensure they can manage and mitigate risks associated with money laundering and terrorism financing. Businesses without adequate processes in place to manage those risks leave themselves vulnerable to exploitation by criminals."
Audit reports, including one on September 12, 2023, and an independent review in February 2025, revealed significant deficiencies within Bet365’s compliance framework. The reports pinpointed that the operator failed to maintain an adequate AML/CTF program, in violation of section 81 of the AML/CTF Act. Additionally, there was a noted absence of ongoing customer due diligence (OCDD) for specific clients.
In response to these findings, Bet365 acknowledged the issues and voluntarily opted for remedial actions under section 197. The company is required to complete a revised risk assessment for money laundering, terrorism financing, and proliferation financing (ML/TF/PF), enhance customer risk assessment models, and implement improved control documentation and testing protocols.
Bet365 must submit a final auditor report to Austrac by July 30, 2027, confirming the full implementation of remedial actions. Furthermore, a midway progress report is due by December 31, 2026.
Austrac expects the remediation efforts to include advancements in AML/CTF reforms as well as improved detection and management of emerging risks. The enforceable undertaking will remain in effect until it is either formally rescinded by Austrac or withdrawn by Bet365.
In a separate matter, in December 2024, Austrac initiated civil penalty proceedings against Entain for similar AML/CTF compliance issues. Entain has acknowledged certain deficiencies in its prior compliance measures but disputes some allegations and interpretations made by Austrac regarding its case.
