Tabcorp Hires Former AUSTRAC Chief to Address Compliance Gaps

Tabcorp has hired a familiar face in financial crime regulation as it gears up for a high-stakes regulatory battle, appointing former AUSTRAC boss Paul Jevtovic to a newly created executive role. Jevtovic, who was AUSTRAC chief executive from 2014 to 2017, will become Tabcorp’s chief financial crime officer and will oversee the Australian company’s response to an ongoing investigation into its anti-money laundering and counter-terrorism financing.

Jevtovic Will Bolster Tabcorp’s Compliance Strategy

During Jevtovic’s tenure at AUSTRAC, Tabcorp suffered a then-record $45 million penalty for breaching AML and CTF laws. At the time, he publicly criticized the company culture for its slow handling of compliance risks until regulatory pressure forced change. Almost a decade later, he is back in very different circumstances, charged with reinforcing the systems he once scrutinized.

Tabcorp chief executive Gillon McLachlan noted that the appointment was a significant step in improving the company’s internal controls. Jevtovic has a background in law enforcement, intelligence, and banking, including a senior role with National Australia Bank. He had already been doing some consulting work for Tabcorp in recent months and is familiar with the company’s current challenges.

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

Gillon McLachlan, Tabcorp CEO

Jevtovic’s work won’t be restricted to handling the AUSTRAC investigation. Tabcorp has onboarded him to oversee their broader financial crime prevention framework, including fraud prevention, internal investigations, and scam detection. He will also head an internal oversight committee with the mission to enhance governance across the business.

New Leadership Will Bolster the Company’s Strategy

Tabcorp is facing significant challenges. The AUSTRAC investigation prompted a strong market reaction. The company’s share price dropped over 40% within days, wiping out almost $1 billion as investors were concerned about potential penalties and reputational damage. There have also been some positive developments. Earlier this year, Tabcorp’s in-play betting product was found not to breach federal rules, giving the company some relief.

To strengthen its leadership positions, Tabcorp has confirmed that Joel Williams has been officially appointed as Chief Risk Officer (CRO) after serving in this capacity on an interim basis. Williams, who rejoined the company in 2023, will likely work closely with Jevtovic to resolve regulatory challenges. Tabcorp also made efforts to improve its board experience by recruiting seasoned director Vivian Stewart towards the end of 2025.
Despite these improvements, the AUSTRAC probe still affects how investors view the company. The investigation will likely be the most significant challenge McLachlan has faced since he took the reins in 2024. The outcome could not only affect Tabcorp’s financial position but also its relationship with regulators at a critical time for the company.