Post
Topic
Board Gambling
Re: Loophole in stopping Money Laundering through Wagering
by
danadc
on 24/08/2023, 21:11:21 UTC

Despite the truth that money laundering is far greater in fiat currency, the emergence of cryptocurrency and crypto casino gives these money launderer more options to launder money.  We cannot deny the fact that cryptocurrency is being exploited to launder money and most of them pass through the crypto casino to wash the traces of the transaction.

Wagering though slightly help to keep away money some launderer but it does not really stop the culprit to use crypto casino to launder money.

Of all these things when talking about money laundering, it is not possible to act because as many have said, KYC alone is the biggest deterrent to those who try to do it and those who try it would be very foolish, and they cannot Camouflage themselves to be able to do it. things inside the casino and then play and withdraw, I don't know if a player can withdraw little by little what they want or will give them enough time to investigate it, because if a person makes a large deposit and plays a little and then wants to withdraw a little bit of money I don't know if they leave it or submit to a great demand kyc, so these things are what must be seen to think that it is money laundering , I currently doubt it.