Quote from: 348Judah on October 19, 2022, 12:55:00 PM

Quote from: michellee on October 19, 2022, 09:11:15 AM

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place.

But on a serious note should every huge transaction be termed for money laundering, this is just a common mentality that when it has to do with huge amount transaction then the AML is involved, is it that easy to scam ànd cart away funds, we have a good number of businessmen making their cool money without being dependent on any bank, exchange or government to save keep their money, they turn the money into assets they can easily convert into money when necessary.

Maybe the casino will allow large transactions from a gambler but of course, the casino will make sure that the transactions are clean from money laundering. If the gambler is not related to money laundering, they can withdraw the money without going through a vetting process. Undoubtedly, some entrepreneurs can make money from their businesses and use banks that will not bother them with such things. And they can also convert their assets into money when needed.

Quote from: 348Judah on October 19, 2022, 12:55:00 PM

Quote from: michellee on October 19, 2022, 09:11:15 AM

Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

And despite all the KYC and AML investigations were they able to still find out the source to their money? they will rather ended up being bribed and die down the case at the long run, am not against the government agency for performing their role but are they actually accurate with their precision on money laundering?

I think the government can have a hard time finding the source of their money because the money launderers are really good at hiding it. And if some government employees found out about the case, they would certainly be compensated for not speaking out and they could use them for the benefit of the money launderers.

Quote from: smartaction on Today at 05:38:22 AM

Quote from: michellee on October 19, 2022, 09:11:15 AM

Quote from: smartaction on October 19, 2022, 06:39:13 AM

Quote from: seoincorporation on September 13, 2022, 08:56:20 PM

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount. In that case I don't think a crypto casino can be a big cause of money laundering. Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

If they have a close relationship with the owner of that casino then it is possible for them to launder money through that platform and since the money launderers are very smart now maybe there are many who own each casino themselves and they launder money through their own casino and in different places. Millions of dollars are smuggled

Yes, I also thought that the money launderers could set up their own casinos to launder their money easily. They can also get permits from the local government to open casinos and attract government employees to work for them from behind the scenes. This will make it easier for them to launder their money because they already have relationships with government employees to protect their casinos. And other money launderers may also be using the casino to do the same, making even more of a clean government to investigate.