does money laundering happen often in casinos

In July 2023, Australian-headquartered Crown Resorts found itself at the center of a major legal battle. The impact of money laundering on the gambling industry can be felt around the world, offline and online. Global relationship between casinos and money laundering. However, where there are online users, there are weaknesses in online platforms that criminals can exploit. No longer considered a niche offshoot, online casinos are a sector in their own right, and welcome increasing numbers of players every single day. The global revenue of the online casino market is projected to reach $32.69 billion by the end of this year, with an estimated 124 million active users by 2027.

In fact, the anonymity afforded by online casinos rivals that of even the darkest, dingiest, most back door brick and mortar casino. Criminals can convert dirty money into physical or digital chips relatively easily with little to no checks, gamble for a short time, and then cash out, with fresh, laundered money. There was a reason why Marty Byrde from Ozark chose casinos as the perfect front for his money laundering activities.

Does money laundering happen often in casinos