{"id":35072,"date":"2022-11-03T07:38:47","date_gmt":"2022-11-03T10:38:47","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=35072"},"modified":"2026-04-23T03:20:20","modified_gmt":"2026-04-23T06:20:20","slug":"austrac-to-investigate-sportsbet-and-bet365-over-suspected-aml-failings","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/austrac-to-investigate-sportsbet-and-bet365-over-suspected-aml-failings","title":{"rendered":"AUSTRAC to investigate Sportsbet and Bet365 over suspected AML failings"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The Australian financial crime watchdog suspects that Sportsbet and Bet365 may have violated anti-money laundering laws. <\/p>\n\n\n\n<!--more-->\n\n\n\n<p class=\"wp-block-paragraph\">Australia.- The&nbsp;<strong>Australian Transaction Reports and Analysis Centre<\/strong>&nbsp;(AUSTRAC) has announced that it has commenced an enforcement investigation into Sportsbet and Bet365 on suspicions they failed to comply with anti-money laundering laws. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">External auditors will be authorised to assess Sportsbet\u2019s and Bet365\u2019s compliance with the AML\/CTF Act and Anti-Money Laundering and Counter-Terrorism Financing Rules Instrument 2007 (No. 1) (AML\/CTF Rules). It follows the recent launch of&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/austrac-launches-investigation-into-entain-group\" target=\"_blank\">an investigation into Entain<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The external auditors must report to AUSTRAC within 180 days of being appointed and will examine Sportsbet\u2019s and Bet365\u2019s compliance with:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Adopting and maintaining an AML\/CTF program that has risk-based systems and controls in place to effectively identify, mitigate and manage money laundering and terrorism financing (ML\/TF) risks.<\/li><li>Undertaking an appropriate ML\/TF Risk Assessment that considers the risk posed by their customer types, the types of designated services they provide and the methods by which they deliver those designated services.<\/li><li>Ensuring Sportsbet and Bet365 have a framework through which their Boards and senior management have ongoing oversight of their Part A Programs; and<\/li><li>Appropriately monitoring their customers with a view to identifying, mitigating and managing the risk they may reasonably face that the provision of designated services may involve or facilitate money laundering or the financing of terrorism.<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">AUSTRAC chief executive&nbsp;<strong>Nicole Rose&nbsp;<\/strong>said that AUSTRAC will take action if it finds systemic deficiencies. She said: &#8220;Sportsbet and Bet365 are amongst the largest operators in the corporate bookmaking sector. AUSTRAC is putting the whole industry on notice to lift their game.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cUltimately, enforcing non-compliance is about protecting the community. Money laundering feeds organised crime and all the harm that comes with it. We need businesses at the front line to fully comply with the AML\/CTF Act \u2013 to understand and mitigate their risks and report suspected crimes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201c<strong>AUSTRAC will not hesitate to take action<\/strong> where suspected non-compliance is identified, to protect businesses from being exploited and protect the Australian community from harm.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Australian financial crime watchdog suspects that Sportsbet and Bet365 may have violated anti-money laundering laws.<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"AUSTRAC has initiated enforcement investigations into Sportsbet and Bet365 for suspected breaches of anti-money laundering and counter-terrorism financing (AML\/CTF) laws, following a similar action against Entain. External auditors will assess their compliance with AML\/CTF programs, risk assessments, board oversight, and customer monitoring frameworks. This action signals a broader regulatory focus on the corporate bookmaking sector to enhance compliance and mitigate financial crime risks.","focusai_entities":"AUSTRAC, Sportsbet, Bet365, Entain, Nicole Rose","focusai_location":"Australia","focusai_target_profile":"ceo_executive (0.95), regulator (1.0), compliance_legal (1.0), operator_casino (0.95), tech_data (0.75), payments_fraud_aml (1.0), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.95)","focusai_suggestions":[{"label":"AML\/CTF Program Deficiencies?","query":"What specific deficiencies in AML\/CTF program design, risk assessment methodologies, or customer monitoring frameworks are AUSTRAC's external auditors likely to prioritize in their assessment of Sportsbet and Bet365?"},{"label":"Industry-wide Implications?","query":"Given the sequential investigations into Entain, Sportsbet, and Bet365, what broader systemic changes or increased enforcement actions should the Australian corporate bookmaking sector anticipate from AUSTRAC?"}],"footnotes":""},"categories":[16336,156,158],"tags":[23793,23911],"class_list":["post-35072","post","type-post","status-publish","format-standard","hentry","category-australasia-news","category-regulation-news","category-slider-home","tag-austrac","tag-gambling-regulation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=35072"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35072\/revisions"}],"predecessor-version":[{"id":35099,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/35072\/revisions\/35099"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=35072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=35072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=35072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}