{"id":777044543,"date":"2026-07-07T07:02:29","date_gmt":"2026-07-07T10:02:29","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777044543"},"modified":"2026-07-07T07:41:43","modified_gmt":"2026-07-07T10:41:43","slug":"austrac-orders-bet365-to-strengthen-aml-controls","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/austrac-orders-bet365-to-strengthen-aml-controls","title":{"rendered":"AUSTRAC orders bet365 to strengthen AML controls"},"content":{"rendered":"\n

The online bookmaker has entered into an enforceable undertaking requiring major improvements to its anti-money laundering framework following a regulatory investigation.<\/p>\n\n\n\n\n\n\n\n

Australia.- bet365<\/strong> has committed to strengthening its anti-money laundering (AML) and counter-terrorism financing controls after the Australian Transaction Reports and Analysis Centre (AUSTRAC<\/strong>) identified significant deficiencies in its compliance framework. An enforceable undertaking requires the online bookmaker to implement a more robust and ongoing risk assessment methodology supported by clear processes and to enhance its ability to detect and report suspicious transactions.<\/p>\n\n\n\n

AUSTRAC had launched an investigation after an independent audit <\/strong>of the operator’s Australian business identified weaknesses in its risk management and reporting practices. Failure to comply with the undertaking could result in civil penalties.<\/p>\n\n\n\n

AUSTRAC CEO Brendan Thomas<\/strong> 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.” <\/p>\n\n\n\n

Earlier this month, AUSTRAC finalised an enforceable undertaking with\u00a0Sportsbet<\/a> after the operator completed\u00a0remediation measures\u00a0accepted in May 2024. Sportsbet was required to strengthen its systems, controls and governance after AUSTRAC identified concerns regarding the company\u2019s approach to risk assessment, customer monitoring and suspicious matter reporting.<\/p>\n\n\n\n


<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t\"\"<\/p>\n

\n\t\t\t\t\tSee also:<\/span> AUSTRAC clarifies new AML\/CTF obligations for reporting entities<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

The online bookmaker has entered into an enforceable undertaking requiring major improvements to its anti-money laundering framework following a regulatory investigation.<\/p>\n","protected":false},"author":226,"featured_media":777041613,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Online bookmaker bet365 has entered an enforceable undertaking with AUSTRAC to address significant deficiencies in its anti-money laundering and counter-terrorism financing framework. This follows an investigation identifying weaknesses in risk management and suspicious transaction reporting, mandating robust improvements to its compliance processes. The action underscores AUSTRAC's heightened focus on AML risks within Australia's gambling sector, mirroring a recent undertaking with Sportsbet.","focusai_entities":"bet365, AUSTRAC, Brendan Thomas, Sportsbet","focusai_location":"Australia","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.9), tech_data (0.7), payments_fraud_aml (1.0), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"AUSTRAC's Enforcement Strategy?","query":"What specific enhancements to AML\/CTF governance frameworks and risk assessment methodologies is AUSTRAC now mandating across the Australian iGaming sector, beyond the bet365 undertaking?"},{"label":"Operational Impact on bet365?","query":"What are the estimated operational costs and resource allocations bet365 will incur to implement the required AML\/CTF remediation measures, and how might this affect their competitive positioning?"}],"footnotes":""},"categories":[16336,156],"tags":[25001,23793,289,337],"class_list":["post-777044543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-australasia-news","category-regulation-news","tag-aml-ctf","tag-austrac","tag-australia","tag-regulation"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777044543","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\/226"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777044543"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777044543\/revisions"}],"predecessor-version":[{"id":777044558,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777044543\/revisions\/777044558"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/777041613"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777044543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777044543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777044543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}