Description

AUSTRAC has accepted an Enforceable Undertaking from Sportsbet Pty Ltd to improve its compliance with Australia?s anti-money laundering and counter-terrorism financing (AML/CTF) laws. This follows an extensive supervisory campaign assessing the corporate bookmaker sector. Sportsbet, ordered to appoint an external auditor, has cooperated with AUSTRAC, leading to this regulatory decision.
The undertaking mandates Sportsbet to follow a remedial action plan monitored by AUSTRAC, with ongoing auditor reports ensuring progress. AUSTRAC CEO Brendan Thomas emphasized the importance of robust systems to prevent financial crime, stating that Sportsbet?s commitment will help mitigate money laundering and terrorism financing risks. Failure to comply will result in further enforcement action.