Financial Crime Online

Most countries ban some types of gambling. The type of gambling ‘games’ that are allowed are usually strictly regulated and mostly (semi) government owned. That does not mean that the odds are fair. In sports betting, game rigging is a real concern. And obviously, when you speak about big bucks, there will be big criminals [...]

Criminals and their money launderers do not like all reporting obligations that financial institutions have nowadays. Banks (almost) worldwide report suspicious transactions to local government through Suspicous Activity Reports (SAR’s) or equivalents. Although mostly overflooded with SAR’s, law enforcement actually catches launderers and confiscates criminal funds using them. How to get around that? In Belize [...]

Earlier this month, two former Bank of China managers were sentenced in a Nevada court in the US to over 20 years in jail for defrauding the Bank of China and laundering the funds through US bank accounts and casinos in Las Vegas. The two men are accused of sending millions of dollars in illegal [...]

Betting is not allowed in a lot of countries and in most states of the US, so by definition here only criminals supply betting facilities. The US states that allow gambling (most well know is Nevada) regulate the gambling industry very strictly. The sheer amount of money flowing through casinos itself makes them interesting for [...]