Quote from: 348Judah on May 05, 2023, 05:12:42 PM

Quote from: khaled0111 on April 28, 2023, 09:34:06 PM

Quote from: LUCKMCFLY on April 28, 2023, 01:02:41 PM

I want to understand one thing,I know that there is a lot of talk about money laundering, and that crypto is used and whatever they want, I can understand that part, because I know that in Colombia things are different, and that the "guerrillas" do use bitcoin and cryptocurrencies to move money, that was a story I saw on the news, which Shocked me but did not surprise me, just as crypto and fiat money are used for bad things, there are also good things, now for a casino I don't see it as viable that they can use it for money laundering, Especially with all the Security options they already have.

If a casino enforces kyc to all its customers plus having some other measures in place such as high wagering requirements before being able to withdraw, not allowing users to withdraw in other coins than the coin which was used when depositing (no internal exchange).. then, you are right, it won't be possible to use such casino for money laundering.
Regardless of how much privacy advocates hate kyc policies, but it's still needed to prevent illicit activities such as money laundering.

Let be honest here a casino can not act the function of government agencies in the control of scam related to money laundering when the AML agencies themselves couldn't control the overall challenges with scam related loots from exchanges, to an extent some of the KYC casinos also serve a little function of an exchange since you can deposit your money with them, exchange it for another currency as long as their site policy support it.

Many organizations that do not support KYC casinos but this AML organization will actively prevent money laundering and with it activities that facilitate money laundering or terrorist or criminal activities. To comply with AML, as per the applicable laws and therefore all officers, employees and engaged producers of this company must adhere to this standard so that its products and services are not used for money laundering purposes. The AML Committee's responsibility is to report suspicious activity to law enforcement or other required reporting to regulatory agencies.