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Money Laundering and Casinos: Things You Should Know

Money laundering is a serious challenge faced by the investigation authorities across the globe. It is the process through which the origin of the illegal money is concealed while money launderers try to convert black money into white money. They do this through a series of transactions that are usually undertaken through foreign banks and portfolios.

Money Laundering Process

The process of money laundering is complex and convoluted and it takes a great amount of effort on the part of investigation agencies to trace the money and find the true sources from where the money is being originated. The real problem with the money laundering process is the use of money that can sponsor some anti-social activities, terrorist events, and other undesirable activities in society. This illegitimate money can also be in the business of illicit drugs, marijuana, and other banned substances. Therefore, it becomes imperative to have control of this menace.

Casinos and Money Laundering

It is generally seen that money launderers can use any platform to convert the money into legitimate currency; although, the casino industry is specifically vulnerable to the money laundering process. This is the reason why many criminals choose casinos to launder their black money as the scrutiny is comparatively lower in the case of the casinos.

Money laundering can happen in terms of the cash exchanged for the chips in casinos. it could also happen in terms of the wire transfers and credit card swiping. The most easily identifiable feature of the money laundering in the casino is when money is transferred from several different financial institutions or agencies. This should send a signal to the casino owner and its management that something is not right with the particular transaction process. In such a scenario, apprising the authorities about the source of the money in the transaction can go a long way to trace the source of the illicit funds.

Probable Methods adopted by Money Launders

Sometimes, an agent conceals his/her true identity and tries to route the money through several different accounts. The agent could also deliberately lose the bet or offer to offset abnormally high bet by paying in cash or through wire transfer. One can also detect the spurious motive behind the money laundering by identifying staggering and inconsistent wagering patterns adopted by a player. Usually, this kind of behavior is recorded in slot machines and casino tables.

Like the physical casinos, the process of money laundering in the online casino happens during the transactions—money transfer, credit card transaction, or wire transfers. Sometimes, money laundering can also happen when the payments for the chips is made through digital currencies. The chances of being caught are quite less in the case of online casinos. If money launderers are using cryptocurrencies for making the transactions, then the whole process will remain anonymous and out of the reach of most of the investigation agencies. Therefore, extra precautions must be taken in case of online casinos to ensure the money used in the game is originating from legitimate sources.


The casino industry should have a close eye on any suspicious transfer of the money. If the casinos come across such cases then it is contingent to go ahead and report the suspicious activity to the law enforcement agencies. There must not be any kind of hesitation on the part of casino owners as their proactive stance can prove very much helpful in addressing this serious crime of money laundering.

Edna Boykin

Edna Boykin started her career as a financial news writer. And, she was withal active in stock trading. From the commencement of her vocation, she is passionate about online poker games. As she likes to play poker and roulette, she knows the casino industry exhaustively. She recently joined Times of Casino as a news writer. She regularly contributes in-depth breaking stories and news updates of the casino industry.

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