According to the watchdog, the probe was launched based on reports of compliance shortcomings with Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act).
The latest is part of AUSTRAC’s ‘extensive supervisory campaign’ launched last year to ensure that money laundering compliance standards are met across sportsbooks operating in the country.
In November, the regulatory body ordered bet365 together with another bookmaker, Sportsbet – part of Flutter Entertainment, to launch an internal auditing evaluation by appointing an external auditor.
It is understood that the bet365 probe comes as a result of this evaluation. However, as the investigation is ongoing, AUSTRAC revealed that no additional comments can be made at this time.
The only statement provided was that of AUSTRAC CEO Brendan Thom..