Bet365’s Australian arm agrees remediation plan with Austrac after AML/CTF review

Bet365’s Australian business, Hillside (Australia New Media) Pty Ltd, has agreed to fix identified gaps in its anti-money laundering and counter-terrorism financing controls after an Austrac investigation. For sportsbooks and other high-risk merchants, the useful part is simple: this is another reminder that Australian regulators will look back over years of customer files, not just the current control set.

1. Austrac first raised concerns about Bet365’s AML processes in August 2022 and later mandated an external audit in November 2022. The compliance assessment and external audits covered the period from 1 July 2016 to 2 November 2022.
2. The enforceable undertaking was accepted by Austrac chief executive Brendan Thomas in early July 2025. Austrac said the remediation plan was agreed by both parties and will address the deficiencies identified in Bet365’s AML/CTF controls.
3. Subsequent audit reports, including one dated 12 September 2023 and an independent review in February 2025, found significant shortcomings in the operator’s compliance framework. Austrac said Bet365 failed to maintain an adequate AML/CTF programme, in breach of section 81 of the AML/CTF Act, and also lacked ongoing customer due diligence (OCDD) for certain customers.
4. Bet365 formally acknowledged the issues and agreed to undertake remedial actions under section 197. The operator must complete a revised money laundering, terrorism financing and proliferation financing (ML/TF/PF) risk assessment, upgrade customer risk assessment models, and implement enhanced control documentation and testing measures.
5. A final auditor report is due to Austrac by 30 July 2027, confirming full implementation of the remedial actions. A midway progress report must be submitted by 31 December 2026, and the enforceable undertaking remains active until Austrac cancels it or Bet365 withdraws it.

Austrac’s action comes against a wider enforcement backdrop. In December 2024, the regulator launched civil penalty proceedings against Entain over similar AML and counter-terrorism financing failings, which is the sort of sequence that gets the attention of any PSP or acquiring team servicing betting, gaming, or other high-risk verticals.