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FVC2132 - Casinos and Online Gaming: Money Laundering Risks and Countermeasures

‐ Nov 9, 2021 2:25pm

Legend and legacy attribute money laundering risk to casinos. The inherent attractiveness to laundering the proceeds of crime of that sector include: facilities for cash placement; the reach of international wires; the availability of instruments with a legitimate justification; and, prestige. While schemes can be as simple as cash to chips to casino cheques, others are more complex, and can involve the jurisdiction shopping, and the collusion of internal staff. International bodies have recognized the attractiveness and exploitation of casinos - traditional, online, and illegal, and have provided recommendations to reduce the resulting risk. This session will review the risks, the international standards, and upper-range practices for deterrence, prevention, and detection.

Learning Objectives:

  • Understand the risks and vulnerabilities for the casino sector to money laundering.
  • Be aware of the latest standards and trends in money laundering countermeasures for bricks and mortar and online casinos.

​Speaker - Virtual(s):

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