Australia's financial crime regulator, AUSTRAC, has initiated a formal investigation into Bet365, a British gambling company, over concerns of profiting from the proceeds of crime following a lengthy audit. This action follows broader scrutiny of the gambling sector in Australia, including virtual and electronic advertisements for illegal gambling companies on Foxtel, identified in a Four Corners investigation, and a contentious NT gambling bill consultation process criticized for involving only one harm reduction group alongside 28 betting companies. Gamblers in the region are '25% more likely to suffer harm'. The investigation targets potential avenues for money laundering within the gambling industry, including casinos and gaming companies, as part of AUSTRAC's crackdown on financial crimes. Brendan Thomas, CEO of AUSTRAC, emphasized that businesses without adequate processes are 'vulnerable to exploitation by criminals'.