(AsiaGameHub) –   Tabcorp has appointed a former head of financial crime regulation to a new executive position as it prepares for a significant regulatory challenge. Paul Jevtovic, who led AUSTRAC as chief executive from 2014 to 2017, will now serve as Tabcorp’s chief financial crime officer. In this role, he will lead the Australian company’s response to an ongoing investigation concerning its compliance with anti-money laundering and counter-terrorism financing laws.

Jevtovic Will Bolster Tabcorp’s Compliance Strategy

During Jevtovic’s previous leadership at AUSTRAC, Tabcorp faced a substantial $45 million penalty for violating AML and CTF regulations. At that time, he publicly criticized the company’s culture for its delayed response to compliance risks, which only accelerated under regulatory pressure. Now, nearly a decade later, he returns in markedly different circumstances, tasked with strengthening the very systems he once oversaw.

Tabcorp chief executive Gillon McLachlan highlighted the appointment as a crucial step in enhancing the company’s internal controls. Jevtovic brings a wealth of experience from law enforcement, intelligence, and the banking sector, including a senior position at National Australia Bank. He has already been providing consulting services to Tabcorp in recent months, giving him familiarity with the company’s current issues.

“Paul brings exceptional executive experience. His track record will be invaluable as we strengthen our capabilities.”

Gillon McLachlan, Tabcorp CEO

Jevtovic’s responsibilities will extend beyond managing the AUSTRAC investigation. Tabcorp has engaged him to oversee their comprehensive financial crime prevention framework, which includes fraud prevention, internal investigations, and scam detection. He will also chair an internal oversight committee dedicated to improving governance across the organization.

New Leadership Will Bolster the Company’s Strategy

Tabcorp is currently navigating significant challenges. The AUSTRAC investigation has had a notable impact on the market, with the company’s share price falling by over 40% in a matter of days, resulting in a loss of nearly $1 billion as investors expressed concerns about potential penalties and damage to the company’s reputation. However, there have been some positive developments, including the recent finding that Tabcorp’s in-play betting product did not contravene federal regulations, offering some relief to the company.

To reinforce its leadership team, Tabcorp has officially appointed Joel Williams as Chief Risk Officer (CRO), a role he had been fulfilling on an interim basis. Williams, who returned to the company in 2023, is expected to collaborate closely with Jevtovic on resolving regulatory matters. Tabcorp has also focused on enhancing its board’s expertise by recruiting experienced director Vivian Stewart towards the end of 2025.
Despite these enhancements, the AUSTRAC probe continues to influence investor perception of the company. This investigation is likely to be the most substantial challenge McLachlan has encountered since assuming his role in 2024. The outcome could significantly affect Tabcorp’s financial standing and its relationship with regulatory bodies during a critical period for the company.