AUSTRAC announced on July 3, 2026, that it has finalized its enforceable undertaking with the online gambling provider Sportsbet. The regulatory body confirmed that the company has successfully addressed systemic weaknesses in its anti-money laundering controls.
Brendan Thomas, CEO of AUSTRAC, stated that the outcome reinforces expectations for reporting entities to maintain legal compliance. The regulator noted that Sportsbet was required to undertake significant remediation to improve its systems and governance. AUSTRAC is now satisfied that these requirements have been met.
Compliance and Financial Penalties
The regulatory focus stems from concerns raised in 2024 regarding Sportsbet’s adherence to AML/CFT obligations. The company was mandated to upgrade five key policy areas to mitigate threats from identity and payment fraud. Thomas emphasized that strong compliance remains the primary method for preventing criminal exploitation in the sector.
In addition to the compliance overhaul, Sportsbet faced financial penalties earlier this year. At the start of 2026, the company received a fine exceeding $313,000 AUD for failures in social responsibility. Completion of the enforceable undertaking does not reduce ongoing regulatory expectations for businesses operating in high-risk sectors.