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Author Topic: How can the observers in a casino detect money laundering?  (Read 1032 times)

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Offline nancy reanTopic starter

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How can the observers in a casino detect money laundering?
« on: November 02, 2020, 11:18:32 AM »

[size=78%]It doesn't work that way. The casino has an enforcement department that has to make ample effort for anti-money laundering, with the least burden on business, to escape legal fines. So the casino needs to avoid blatant laundering, and have some methods to detect more discreet attempts, but it's more about attempting to regulate underage drinking and gambling, building prostitution, and gambling for intoxicated people than the Canadian Mounties bragging that they still get their guy. You don't have to win honours as detective of the year, you have to make the effort to grab clear things.[/size]
If they are authorised and the consistency of the regulatory authority depends on the protection of online casino games. Reliable online casinos have permits from countries with regulatory authorities that are valued. These companies make sure you're handled equally by the casino. Good online casino


Offline mlawson71

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Re: How can the observers in a casino detect money laundering?
« Reply #1 on: November 04, 2020, 04:38:17 PM »
Thank you for explaining that!

Offline Gisselle

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Re: How can the observers in a casino detect money laundering?
« Reply #2 on: November 09, 2020, 11:58:39 AM »
No matter how strange it sounds, but gambling can be free and excellent quality. Now, I play on 1 site only.

Offline Dora WalletInvestor

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Re: How can the observers in a casino detect money laundering?
« Reply #3 on: November 09, 2020, 10:58:23 PM »
It can definitely be difficult in many cases for casinos to notice money laundering, especially in online casinos.
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Offline mlawson71

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Re: How can the observers in a casino detect money laundering?
« Reply #4 on: November 22, 2020, 05:03:56 PM »
True. This is why gambling regulators observe the companies they license so closely. And it's why it's a good idea to stick to properly regulated companies, one never knows otherwise what their casino is involved with.

Offline AnaBC

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Re: How can the observers in a casino detect money laundering?
« Reply #5 on: December 09, 2020, 03:18:14 PM »
Money-laundering regulations and concerns are one of the top reasons (alongside preventing credit-card fraud and underage gambling) why casinos often have KYC processes.

As a former casino employee, I can tell you that some casinos take it a bit more seriously than others. Most at least provide money-laundering training to all employees, which teaches them how to be aware of suspicious practices. For instance, if a customer makes large deposits regularly, then immediately tries to withdraw them without wagering, that's a big red flag.

The UK's Gambling Commission (one of the strictest regulatory bodies when it comes to online gambling) has a set of documentation about anit-money laundering that tyou can find online:
https://www.gamblingcommission.gov.uk/for-gambling-businesses/Compliance/General-compliance/AML/


 

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