Money laundering and internet gambling
The new home for money launderers? Federal authorities often redistribute seized funds to state and local police agencies. When you start a discussion about money laundering, it should help to identify what money you think is being laundered.
About the best they could hope mnoey is to encrypt their transactions. Virtual payment systems are under less scrutiny and make laundering that much easier. Maybe the money laundering is just incidental to the real problem of whose jurisdiction should be raking in the most money and by what channels. Shares closed over 1. If the law is unenforceable against US players, authorities must limit their actions to those people who facilitate illegal gambling in any gaambling.
With online gambling set to be worth $39 billion by , the industry is at risk of becoming a safe haven for money laundering, a new report. $ billion criminal proceedings are transferred yearly into the legal system by money laundering (UNODC ). Only about % are. The purpose of this paper is to examine the “relationship” between the regulated online gambling sector in Great Britain and potential for money laundering.