Re: Crypto Casinos vs money laundering.

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.

Of course, technologies to track these money launderers are still improving throughout each year because these guys are also getting smarter each and every year. Experience help them to evolve and evade the new technologies. Other than that, casinos and authorities are already tired in chasing these guys because they knew that money launderers keeps on outsmarting them, they are just patiently waiting for some mistakes that will reveal these guys in what they are doing before making a move.

Money launderers never wait based on a method. They launder money in various ways. And they are constantly getting smarter and coming up with different new ways, so gambling may be a way of money laundering but it doesn't work very well. They use other methods more than gambling sites to launder money

Indeed, casinos and gambling houses aren't their only options where to launder their money just to keep it safe from authorities who are trying to track them down. We can't mention it all here because it's just too many to mention. Every year they found new ways and they have the right people who thinks of it.

Money laundering is never done by one person. They have a group for money laundering and in that group many types of people are involved like government party influential people, big businessmen, many bankers, police etc. And they find different ways. Even if it involves crypto. Not so much associated with casinos

Couldn't agree more, money laundering is just their way to get their money clean from all the illegal activities they did behind the curtains, mostly, there is a big organization that we couldn't even imagine behind these things and those kinds of people you've mentioned are all connected and part of the big organization, if not, they are just under their payroll especially these high ranking police officers and government officials.

I do agree money laundering does not only take place in just one process. It takes steps. Concealing where your money came from is a form of serious crime. However, those people can easily get away with it ( maybe they have the power and authority because of the money).Criminals can now transfer and withdraw money without being detected thanks to online banking and cryptocurrencies. They can remain not totally anonymous but they are increasingly being used in blackmail schemes, the drug trade, and other criminal activities due to their anonymity when compared to more traditional forms of currency. Thats why it is also important to combat money laundering. Most of us are aware of the anti-money laundering efforts of different authorities and agencies however its still not enough though. What are your takes on this?