Quote from: Wiwo on August 07, 2023, 11:31:47 AM

Quote from: wiss19 on August 07, 2023, 10:53:53 AM

Well, cases of money laundering nowadays have completely vanished from cryptocurrency casinos after they've announced KYC and AML rules and also added wagering requirements so that a user can't just make a deposit, play a few games and then withdraw the funds right after that. Now with wagering requirements, a gambler needs to meet a wagering requirement of at least 1x of the deposit which isn't easy to achieve knowing you might lose a big chunk of it.

Back in the days when cryptocurrency casinos were newly launched and when there wasn't any KYC verification or very high wagering requirements, money launderers used to use that opportunity and that is the reason why KYC and AML rules were then imposed on all cryptocurrency casinos operating under a license.

We can't say that cases of money laundering have totally been eradicated from casinos this is so because not all casinos have that KYC in place and as a matter of fact those that have KYC don't enforce it in most cases and this is why some few of her cases of money laundering can still be present on some casinos.

But ultimately, most of the casinos that already have wagering requirements in place don't help the AML law in any way and if the customer loses any launder-led money or then goes to the casino, so only KYC is what benefits law enforcement agency in this situation.

Well, money laundering in casinos is not a big business for criminals currently, as they have already said, the KYC issue is something that does not leave them alone, also in some cases, when certain criteria are not met, they do not let you withdraw the money, also if they make the mistake of submitting to take a bonus, it is something different. because they have to do many things to be able to establish themselves well and not have to go through what we go through at some point, and when there are big money options things become more delicate, because some things are not so easy, something like deposit and then withdraw, that is something that can no longer be done.

In addition to the laws, the licenses in the casinos are many factors that can be established as something that until something is fulfilled in particular, since withdrawal is not allowed, also the KYC in this case are very well reviewed, because it is a lot of money, And if a request for withdrawal is given at once, then it is reviewed with even more care.

So currently, when money is laundered, other things are done, 'for example, a very common one is that they buy latest model cars and they arrive in the country and then they are sold in some way or through raffles, that is something that Currently people are living near where I live, and the cars are eventually very nice and then the government buys the cars and then from there they give power to one of the trusted ones and they put it up as raffles, that's one way, another is through another type of merchandise, the other way is to pass the money directly by planes or charter flights, now it is not like that for casinos, maybe in casinos they do, but they are eventually very new to those who do this type of things, plus the fact that you have to comply with KYC is no longer a business.

Personally, there are always more shameless ways to launder money, now things are very different, the police and all government entities, well, they let themselves be bought, they give them a large amount of money and pass it on, that not only It is happening in third world countries, I am sure that in all the countries of the world there is this type of corruption.