The Australian Transaction Reports and Analysis Centre (AUSTRAC) has launched an enforcement investigation into Hillside (Australia New Media), which operates under the bet365 brand.

The focus of the investigation is to determine whether bet365 has complied with its obligations under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act). 

This action follows an AUSTRAC enforcement campaign targeting corporate bookmakers and AUSTRAC’s review of an external audit report commissioned by bet365. AUSTRAC CEO Brendan Thomas said: “Corporate bookmakers must have robust systems in place to ensure they can manage and mitigate the risks associated with money laundering and terrorist financing. Businesses without adequate processes in place to manage these risks leave themselves vulnerable to exploitation by criminals”.

AUSTRAC’s investigations aim to ensure compliance within the industry and protect against illegal activity. It has a range of regulatory tools and enforcement powers and is committed to taking decisive action where it identifies suspected non-compliance.

Due to the ongoing nature of the investigation, AUSTRAC will not comment further. In May 2023, Crown Resorts faced significant penalties and regulatory action for breaches of the provisions of the AML/CTF Act. The Federal Court approved a civil penalty of AU$450 million (US$296 million) against Crown Resorts to be paid to AUSTRAC, marking the resolution of a long-running regulatory dispute.

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