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Topic: Crypto Casinos vs money laundering. - page 17. (Read 3580 times)

legendary
Activity: 1526
Merit: 1359
September 13, 2022, 04:48:47 PM
#6
So, what do you say, does crypto casinos really care about money laundering?

Well, look at it this way. As a gambling industry, one of its problems arise in the form of the regulatory requirements in different jurisdictions which can vary by state, country and even within countries too. Most of these casinos are not focusing anti-money laundering measures but most of them are working in full accordance with the laws and guidelines created by the government and other gaming institutions. If the government has an agenda it is going to want to push it forward, they are in power after all. The most likely situation is that the government will require its casinos to be AML compliant.
legendary
Activity: 1456
Merit: 1108
Top-tier crypto casino and sportsbook
September 13, 2022, 04:46:52 PM
#5
Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?
Crypto casinos definitely care about Money Laundering as they are also casinos and are subject to enforce AML & KYC regulations to avoid penalties that can cripple their business. They may not make it too strict so as not to scare away some customers who may be wondering the importance of these details, but they must show a level of compliance to prevent being shut down by the people in charge of ensuring that AML & KYC RULES are enforced.
legendary
Activity: 2660
Merit: 1261
September 13, 2022, 04:42:20 PM
#4
Never questioned a money on "Casino" ~XD

But the case for "Money Laundry" most casino have a golden rules, each deposit need to have 1x turnover before they withdraw. So, the user need to completed first the turn over otherwise is gonna to get "KYC".

CASINO not always asking "KYC" in the beginning, however for this case they mostly asking if the person deposit but not betting anything & make your account getting triged to be marked potential "Money Laundry".
legendary
Activity: 1624
Merit: 1200
Gamble responsibly
September 13, 2022, 04:31:18 PM
#3
Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.
But as long as the casino noticed the money is laundered, it would be seized.

Money laundered may be difficult to know or traced, but known, it would be seized for appropriate investigation.

So, what do you say, does crypto casinos really care about money laundering?
I have used quite few crypto gambling sites, they include AML and other rules against criminal activities in their ToS.
hero member
Activity: 2968
Merit: 687
September 13, 2022, 03:59:23 PM
#2

So, what do you say, does crypto casinos really care about money laundering?
They wont really be putting much emphasis on that as long it wont really cause any alarms or being caught by regulators as long they do able to get those verification on the said user then they wouldnt care
on where those funds came from.Its true that majority of these casinos whenever there's big money involved then expect that there would be some KYC which its already not surprising yet they would definitely
be asking out since they are licensed which simply means that they are regulated and they do need up to comply things for the sake of their business.
Money laundering doesnt only limit out on gambling industry but also in other paths as well.
legendary
Activity: 3346
Merit: 3125
September 13, 2022, 03:56:20 PM
#1
Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?
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