Regulatory Review and Findings
According to AUSTRAC reporting, Bet365’s Australian subsidiary Hillside (Australia New Media) Pty Ltd has entered into an enforceable undertaking to address deficiencies in its anti-money laundering and counter-terrorism financing controls. The agreement, accepted by AUSTRAC chief executive Brendan Thomas in early July 2025, outlines a structured compliance improvement program following a multi-year regulatory review.The initial assessment covered operator practices between 1 July 2016 and 2 November 2022. AUSTRAC first raised compliance concerns in August 2022 and mandated an external audit by November of that year. Subsequent audit reports dated 12 September 2023 and February 2025 confirmed significant shortcomings in the compliance framework.
The regulator identified a breach of section 81 of the AML/CTF Act due to an inadequate program and noted the absence of ongoing customer due diligence procedures for certain account holders.
Remediation Framework and Industry Context
Under the enforceable undertaking, the operator will conduct a revised money laundering, terrorism financing and proliferation financing risk assessment. Additional measures include upgraded customer risk evaluation models and strengthened control documentation alongside enhanced testing protocols. An independent auditor must submit a midway progress report by 31 December 2026, with a final verification report confirming full implementation due on 30 July 2027. The undertaking remains active until formally cancelled by AUSTRAC or withdrawn by the company.AUSTRAC previously launched civil penalty proceedings against operator Entain in December 2024 for comparable AML/CTF compliance shortfalls. The regulator has consistently maintained that corporate bookmakers require robust risk management frameworks to prevent financial crime exploitation.