WA TAB AUSTRAC Review: Money Laundering Fix Nears $11m

WA TAB AUSTRAC scrutiny is now costing Western Australians real money. Fixing the state-owned betting agency’s anti-money laundering systems has already added close to $11 million in a single year. And nobody will say how big the final bill will be. The news lands on the eve of Melbourne Cup Day. That is one of the biggest betting days of the year. So, what is going on at the TAB, and why does it matter? Let us break it down.

What the WA TAB AUSTRAC Review Is About

The TAB in Western Australia is owned by Racing and Wagering WA (RWWA). RWWA is a state government business. It runs the TAB and also oversees thoroughbred, harness and greyhound racing in the state.

AUSTRAC is the Australian Transaction Reports and Analysis Centre. It is the national watchdog for financial crime. Its job is to stop criminals from using businesses like banks, casinos and bookmakers to clean dirty money.

According to The West Australian, AUSTRAC has been quietly examining RWWA for about two years. The paper reported that the work is a compliance assessment, not a full investigation or enforcement action. However, further action has not been ruled out.

RWWA’s own 2025-26 annual report confirms the assessment began in 2024. It says the review was still ongoing when the accounts were signed. Until AUSTRAC reports back, RWWA says it is “not possible to quantify the potential financial effects, if any.”

How Much the Money Laundering Fix Has Cost So Far

The numbers sit in the fine print of the annual report. For the year to 31 July 2026, RWWA’s wagering services costs rose to about $108.4 million. That is up from about $97.6 million the year before, a jump of roughly $10.9 million.

The report explains the rise in plain terms. The increase is “largely due to increased expenditure related to Anti-Money Laundering (AML) compliance.” In other words, most of that extra spending went into the clean-up.

The West Australian flagged the figure in “TAB taken to the cleaners by bill for money laundering fix”. The paper said RWWA hired outside experts for the job. It did not run a public tender, and it would not name the contractor.

When asked about the full price tag, RWWA did not give a number. A spokeswoman said RWWA had “continued to strengthen its (anti-money laundering) and financial crime controls through investment.”

What RWWA Says It Is Doing

The annual report describes a broad regulatory uplift program. It covers new systems and technology, staff training, governance and risk checks. The goal is to strengthen how the TAB spots and stops money laundering and terrorism financing.

A spokesman earlier told The West Australian that RWWA was “fully co-operating” with AUSTRAC. He added that it was “continuing to strengthen” its systems, controls and capability.

The Perth Mint Comparison Taxpayers Will Remember

This is not the first WA government business to face AUSTRAC. The Perth Mint went through a long AUSTRAC process of its own. In November 2023, AUSTRAC accepted an enforceable undertaking from the Mint’s owner, Gold Corporation. That is a formal promise to fix problems under close watch.

The Mint avoided a fine. Still, its clean-up was costly. ABC News reported a $34 million remediation program. AUSTRAC later closed the undertaking once the work was done.

That history gives us a rough guide. The TAB’s fix could keep costing money for years, and taxpayers carry the risk either way.

RWWA Finances Under Pressure

The extra compliance costs arrive at a tough time. RWWA’s annual report shows the TAB’s betting margin fell to about $335.4 million, down from $354.3 million. The report blames lower turnover. Total revenue slipped to about $379.5 million from $396.4 million.

On the bright side, losses narrowed. RWWA posted a loss of about $17.1 million for the year, compared with $28.5 million a year earlier. After asset revaluations, the total comprehensive loss was about $7.8 million.

Meanwhile, there is more scrutiny ahead. In December 2025, the state government launched an independent Financial Sustainability and Governance Review of RWWA. Former minister David Templeman and Professor Warren Harding lead it, and economist John Nicolaou joined in February 2026. There have been leadership changes, too. The West Australian reported that chief executive Ian Edwards has left. So has chief legal, governance and risk officer Elizabeth Lawton.

AUSTRAC’s Wider Crackdown on Gambling Companies

The WA TAB AUSTRAC review is part of a much bigger push. Over the past few years, the regulator has targeted casinos and bookmakers across Australia. Here is how the major cases stack up:

• Crown Resorts: In July 2023, Crown Melbourne and Crown Perth were ordered to pay a $450 million penalty.
• The Star Entertainment Group (SGR.AX): On 28 October 2026, the court ordered Star to pay $260 million. AUSTRAC had sought $400 million.
• Tabcorp (TAH.AX): In May 2026, Tabcorp told the ASX that AUSTRAC had started an enforcement investigation. Tabcorp also paid $45 million to settle an earlier AUSTRAC case in 2017.
• Entain: The owner of Ladbrokes and Neds faces an AUSTRAC civil penalty case in the Federal Court. AUSTRAC alleges 17 high-risk customers deposited more than $152 million. A trial is set to start on 30 November, according to The Straight.

The pressure goes beyond gambling. Fintech firms feel it too, as our story on the AUSTRAC audit of Airwallex showed. Banks face similar checks. See our earlier look at Bendigo Bank’s AUSTRAC scrutiny and the A$4 billion mortgage fraud flagged at major banks.

Why the Entain Case Links Back to WA

There is a twist here. The Entain probe was partly blamed for derailing WA’s plan to sell the TAB in 2022, The West Australian reported. Entain was seen as a likely buyer at the time. Now, the TAB itself is under the same regulator’s lens.

What the TAB Money Laundering Review Means for Punters and Investors

For everyday punters, nothing changes right now. The TAB keeps taking bets, and Melbourne Cup Day goes ahead on Tuesday, 3 November. However, stronger checks can mean more identity and source-of-funds questions for big or unusual bets.

For taxpayers, the key question is cost. RWWA funds WA racing through TAB profits. Higher compliance costs can leave less money for prizemoney and clubs.

For investors, RWWA is not listed. Still, the case shows a clear trend. AUSTRAC is pushing every gambling business to lift its game. Listed names like Tabcorp and Star carry that risk in their share prices. Compliance spending, possible fines and slower growth can all weigh on returns. You can also read how the courts handle stolen money in our piece on the Sportsbet stolen-funds case.

Conclusion: The WA TAB AUSTRAC Bill Is Still Open

The WA TAB AUSTRAC story is really about an unfinished bill. RWWA has already spent close to $11 million more in one year, mostly on anti-money laundering work. Yet the full cost, and any outcome from AUSTRAC, is still unknown. With a state review underway and leadership changes, the next year will be telling. We will watch for AUSTRAC’s findings and for RWWA’s next disclosure.

FAQs

What is the WA TAB AUSTRAC review?

It is a compliance assessment by AUSTRAC, Australia’s financial crime watchdog, of Racing and Wagering WA, which runs the TAB. It began in 2024 and is still ongoing.

How much has the TAB money laundering fix cost?

RWWA’s wagering services costs rose by about $10.9 million in the year to 31 July 2026. The annual report says this was largely due to anti-money laundering compliance spending.

Is the WA TAB being fined by AUSTRAC?

No fine has been announced. Reports say the work is an assessment, not an enforcement action. However, further action has not been ruled out.

Who owns the TAB in Western Australia?

The WA TAB is owned and run by Racing and Wagering WA, a state government business. Its profits help fund racing across the state.

Which other gambling companies has AUSTRAC targeted?

AUSTRAC has acted against Crown, Star Entertainment, Tabcorp and Entain. Crown paid $450 million in 2023, and Star was ordered to pay $260 million in October 2026.

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Disclaimer: This article is for informational purposes only and is not financial advice. Always do your own research or consult a licensed financial advisor before making investment decisions.