Quote from: davis196 on Today at 12:19:29 PM

Quote from: AbuBhakar on December 03, 2023, 04:24:44 PM

We all know the recent issue about the mixer status here in the forum. Crypto casino is also being use for money laundering by some criminals that’s why every casino has AML policy.

I’m just curious what will be the fate of crypto casino once money laundering activity from mixer will jump to casino now that mixer will not be advertised here which means it has less exposure. Is there any possibility that crypto casino will be seized by the government just like what happened to mixers in case they failed to screen the laundering activity?

I've always wondered how a crypto casino can be used to launder money. The money launderer deposits money(crypto or fiat) in the casino, plays certain low-risk games and then withdraws the money. What if the money launderer loses a big part of the money(or everything)?
Perhaps a more secure method for laundering money would be the money launderer creating and launching his own crypto casino(with rigged games) and declaring the money to be laundered as casino revenue(by creating multiple fake casino accounts and depositing the money). The KYC regulations could be bypassed, if the casino owner(money launderer) obtained lots of IDs from poor people(or he created fake IDs).
There must be loopholes in this kind of money laundering scheme.

Since nobody here is an experienced money launderer, we will never know whole process. If casinos are involved in money laundering, then both casino and money owner are involved. I think they have low risk. But, I dont think that casinos are good for money laundering. How I see the process, a person place bets, losses money, then win jackpot and withdraw and the money becomes more or less clean. An accidental gambler can win that jackpot either. And that is the moment when problem starts.