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AUSTRAC Orders bet365 AML Overhaul as Sportsbet Undertaking Closes

Daniel HarperBy , Editor-in-Chief
Published

AUSTRAC, Australia’s financial intelligence agency and anti-money laundering regulator, has accepted a court-enforceable undertaking from online bookmaker bet365. The undertaking, announced on 6 July 2026, follows AUSTRAC findings of serious gaps in how the company assessed money laundering and terrorism financing risk and reported suspicious activity. In the same week, AUSTRAC confirmed that Sportsbet had completed the remediation required under its own undertaking, accepted in May 2024, and closed that matter.

What changed at bet365

AUSTRAC’s investigation followed an independent external audit of bet365’s Australian operations. The regulator found the company’s anti-money laundering and counter-terrorism financing (AML/CTF) controls were insufficient. Under the undertaking, bet365 must:

  • rebuild the methodology it uses to assess money laundering and terrorism financing risk, and keep that assessment current;
  • document senior management approval of the risk assessment and define the events that trigger a reassessment;
  • strengthen how it detects, escalates and reports suspicious transactions to AUSTRAC.

An enforceable undertaking carries legal weight. If bet365 does not meet its commitments, AUSTRAC can apply to the Federal Court for orders, including civil penalties, rather than issuing further warnings. No financial penalty was announced.

AUSTRAC chief executive Brendan Thomas said that “gambling businesses pose an inherent money laundering risk”, pointing to the volume and speed of money moving through online betting.

Sportsbet case closed

Sportsbet offered its undertaking in May 2024 after AUSTRAC raised concerns about its AML/CTF compliance during a review of the corporate bookmaker sector. It required improvements in five areas of Sportsbet’s AML/CTF policies and processes. An external auditor has since provided independent assurance to AUSTRAC that all required remediation was implemented and is operating, and AUSTRAC has closed the undertaking. No financial penalty was disclosed.

Separately, AUSTRAC’s civil penalty proceedings against Entain, owner of the Ladbrokes and Neds brands, remained before the Federal Court as of mid-2026.

What it means for Australian players

AML/CTF rules are the reason licensed bookmakers ask for identity documents, check where deposits come from and sometimes pause withdrawals for review. When a bookmaker is told to strengthen its risk assessment and suspicious-matter reporting, customers can expect more of these checks, particularly for large or unusual deposits, rapid deposit-and-withdraw patterns, or payments from third-party accounts.

Practical steps that reduce delays:

  • verify your identity when you open an account rather than at your first withdrawal;
  • deposit and withdraw using accounts and cards in your own name;
  • keep records that show the source of larger deposits, such as payslips or bank statements.

Our guide to KYC verification explains which documents operators usually ask for and why, and the withdrawal limits page covers how checks interact with payout times.

These obligations apply to bookmakers licensed in Australia and reporting to AUSTRAC. Offshore online casinos that accept Australians are not licensed here and are not supervised by Australian regulators, which is one reason identity checks and payout timelines at those sites vary so widely. The legal position is set out in Is online gambling legal in Australia?

Background

AUSTRAC regulates businesses that provide designated services under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, which includes wagering operators and casinos. Its enforcement tools range from directions to external audits, enforceable undertakings and civil penalty proceedings in the Federal Court. In recent years AUSTRAC has pursued casino operators as well as online bookmakers, and it has said it continues to monitor the online gambling sector closely because transactions are fast and there is limited face-to-face contact with customers.

No financial penalty was announced. bet365 entered a court-enforceable undertaking on 6 July 2026 to improve its AML/CTF risk assessment and suspicious transaction reporting.

AUSTRAC can apply to the Federal Court for orders to enforce it, which can include civil penalties.

Australian-licensed bookmakers are reporting entities under the AML/CTF Act and must verify customers, assess risk and report suspicious transactions to AUSTRAC.

Sources

Header photo: Backlit laptop keyboard (Unsplash) by Markus Petritz petritzdesigns, licensed CC0.