Following a review from Australia's finance regulator, bet365 will now be legally required to overhaul its entire anti-money laundering (AML) framework to comply with the nation’s requirements.
According to AUSTRAC, the operator has not implemented adequate AML controls, with “serious gaps” having been identified around how bet365 “manages risk and reports suspicious activity.” The pair have now brokered an obligatory legal contract in which the gambling company must ensure improved risk assessment approaches that are encased by “clear methodology and processes.”
Indeed, this action falls in the wake of a formal investigation into bet365 by AUSTRAC which has evidently concluded that the operator’s financial safeguards do not meet the nation’s requirements. Historically, Australia has struggled with containing money laundering activity, much of which was related to gambling, leading to what is now a highly monitored and strictly enforced regulatory framework in the nation.
Commenting on the development, AUSTRAC CEO Brendan Thomas said: “Gambling businesses pose an inherent money laundering risk and we are focusing on the risks to the Australian economy from money laundering through this sector.
“The gambling industry processes large volumes of money at high speed, often through anonymous digital channels. This creates opportunities criminals look to exploit. This means businesses need to continuously improve their systems to assess risks and monitor for suspicious activity because when controls fall behind, the consequences extend beyond a single company.”
It has been a busy period for the operator, which announced last week the conclusion of its enforceable undertaking against Sportsbet, helping to reform the company’s own AML/CTF frameworks.
Alongside also issuing new guidance on its compulsory examination powers in May, AUSTRAC is also currently pursuing legal action against Entain Group, as stated in this latest report.
Initial reports of an investigation by AUSTRAC into bet365 surfaced in Q1 2026
