AUSTRAC finalises its enforceable undertaking with Sportsbet after it remedied AML/CTF deficiencies, while stressing the need for strong, risk-based controls in high-risk gambling sectors

The undertaking, accepted in May 2024 after an external audit of Sportsbet’s AML/CTF compliance, required the company to uplift controls across risk assessment, customer due diligence, transaction monitoring, reporting, governance and board oversight. AUSTRAC says Sportsbet has now satisfied the enforceable undertaking and must continue embedding the improvements, reinforcing…