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 [...]

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 [...]

The Asia Pacific Group on Money Laundering (APG) issued a report that focuses on the vulnerabilities of the gambling and gaming sector. Although the report does not bring new insights to the problem it is a solid description of the money laundering risk of the industry and the current state of anti money laundering efforts. [...]

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 [...]

The classic image of a money launderer ? High rolling in a casino, laundering his money while having a martini.
This week a drug trafficker in Ontario pleaded guilty to money laundering by feeding bills into casino slot machines, playing for a bit, then cashing out. When the machine issued a stub for the remaining credit, [...]