Quote from: Japinat on Today at 08:57:49 AM

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?

According to the Gambling Money Laundering Regulation, all users entering a casino must undergo a manual KYC evaluation, which includes identity and verification, every time a player deposits, wins, or spends more than 2000. (enforced by the Gambling Commission). Then, as part of ongoing monitoring, additional due diligence must be performed to confirm the initial discovery, as well as more sophisticated business ties, and to ensure that staff is trained to recognize problematic regulatory activity. All wagers made with online bookmakers must be fully traceable.

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

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?