Money laundering in crypto casino - page 3.

avp2306

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Quote from: freedomgo on December 06, 2023, 09:00:43 AM

Quote from: avp2306 on December 06, 2023, 08:07:25 AM

That's the reason why regulated casino is not their choice because of that reasons. They can't make their plan to succeed since casino are much stricter platform than any other else. On exchange maybe this could be their next destination if mixers will totally shutdown their services since they can trade any coins and launder their stolen money.

So for those have concern regarding on money laundering that might happen on those casino maybe they should ease there negative thinking since reputable casino owners already established their counter measure towards this money laundering scheme made by those criminals online.

I think exchanges and gambling sites are treated the same when it comes to regulation. In fact, since there are only a few exchanges compared to gambling sites, they'll be easier to regulate, and I don't think scammers or hackers will be able to launder their funds on an exchange that has good liquidity. When we see a liquid exchange, it's assumed that it's regulated, as traders would not trust their money if the exchange has no license. So, this exchange will conduct the same KYC as casinos, and that would prevent money launderers from attempting to launder their stolen funds.

Without mixers, money laundering might be reduced; at least that's the stance of the government. But for us, it will remain the same, and that is they are compromising the privacy we want to achieve.

They can do it since hackers may find some way to do the KYC procedure even if they didn't use their real identity. There are so many stolen identity online and they can buy someone's identity just for KYC submission to those exchange and then they continue to do their dirty jobs.

Unlike on casino where they usually require 1x wager requirements then this is huge lose for criminals if they comply to that requirements that's why I really think that exchange have more higher chance to be used by those frauds than these casino.

They may have same level of regulations but they have different methods to fight up those illegal activities which is possible to happen on their platform.

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Quote from: avp2306 on December 06, 2023, 08:07:25 AM

That's the reason why regulated casino is not their choice because of that reasons. They can't make their plan to succeed since casino are much stricter platform than any other else. On exchange maybe this could be their next destination if mixers will totally shutdown their services since they can trade any coins and launder their stolen money.

So for those have concern regarding on money laundering that might happen on those casino maybe they should ease there negative thinking since reputable casino owners already established their counter measure towards this money laundering scheme made by those criminals online.

I think exchanges and gambling sites are treated the same when it comes to regulation. In fact, since there are only a few exchanges compared to gambling sites, they'll be easier to regulate, and I don't think scammers or hackers will be able to launder their funds on an exchange that has good liquidity. When we see a liquid exchange, it's assumed that it's regulated, as traders would not trust their money if the exchange has no license. So, this exchange will conduct the same KYC as casinos, and that would prevent money launderers from attempting to launder their stolen funds.

Without mixers, money laundering might be reduced; at least that's the stance of the government. But for us, it will remain the same, and that is they are compromising the privacy we want to achieve.

madnessteat

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Quote from: Dr.Bitcoin_Strange on December 05, 2023, 03:37:21 PM

There's no way a casino will be ceased, unless for anyone who appears to operate against the policy of their license for operation. If a casino decides to operate like a mixer and it is discovered that any laundering activity is going on with such a casino, then the agency will carry on their investigation to confirm if the suspicion is actually true. Until they verify, they won't act. Mixers are not the same as casinos, so I don't really see casinos being affected in any way.

Apparently you do not understand the essence of money laundering through casinos, because... a casino user can easily launder funds without the participation of the casino itself. The user uses the gaming platform to ensure that withdrawals occur from the same address as all other withdrawals from this casino. In this way the casino is used as a mixer. If the casino does not cooperate with regulators, then tracking such mixing is quite difficult and expensive.

avp2306

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Quote from: danherbias07 on December 06, 2023, 08:00:24 AM

Quote from: piebeyb on December 06, 2023, 05:41:20 AM

That's why this forum is very strict about money laundering, especially the big online casinos that have a good reputation in this forum also always prioritize prohibiting anyone who is detected carrying out money laundering, don't confuse it with a mixer because it works differently, until now online casinos are not the place to do it. money laundering so most of the funds that enter the casino will never be successful and safe to withdraw.

In contrast to the way mixers work where money laundering can be done easily without strict regulations, casinos always anticipate that any user wants to launder money, I don't think anyone will think that they will succeed in laundering money in an online casino, I guarantee that will fail and online casinos also pay taxes to the government as well as being sponsors of big sports so it seems rather unlikely that the mixer case will be equated by online casinos in this forum. Grin

Yes, it cannot happen. Like I said before it's the wagering amount that will become the big deal for this money laundering scheme that illegal doers will have a problem with. Imagine trying to launder $5000 and before they reach the wagering amount which most of the time is the same number as the deposited amount, they will most likely end up with only half of it if they are unlucky or it could take days before they get out if they want a safer method with low amount being wagered.
Then, most reputable casinos do have KYC so I doubt they can just exit like the way they entered. They will have to go through many requirements before they can get away and this is part of online gambling sites to keep their business protected. Most reputable online casinos are trying to lengthen their business so they will have to comply with the government rules. One of those is the limited amount for a non-KYC user withdrawal just like local exchange does.

That's the reason why regulated casino is not their choice because of that reasons. They can't make their plan to succeed since casino are much stricter platform than any other else. On exchange maybe this could be their next destination if mixers will totally shutdown their services since they can trade any coins and launder their stolen money.

So for those have concern regarding on money laundering that might happen on those casino maybe they should ease there negative thinking since reputable casino owners already established their counter measure towards this money laundering scheme made by those criminals online.

danherbias07

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Quote from: piebeyb on December 06, 2023, 05:41:20 AM

That's why this forum is very strict about money laundering, especially the big online casinos that have a good reputation in this forum also always prioritize prohibiting anyone who is detected carrying out money laundering, don't confuse it with a mixer because it works differently, until now online casinos are not the place to do it. money laundering so most of the funds that enter the casino will never be successful and safe to withdraw.

In contrast to the way mixers work where money laundering can be done easily without strict regulations, casinos always anticipate that any user wants to launder money, I don't think anyone will think that they will succeed in laundering money in an online casino, I guarantee that will fail and online casinos also pay taxes to the government as well as being sponsors of big sports so it seems rather unlikely that the mixer case will be equated by online casinos in this forum. Grin

Yes, it cannot happen. Like I said before it's the wagering amount that will become the big deal for this money laundering scheme that illegal doers will have a problem with. Imagine trying to launder $5000 and before they reach the wagering amount which most of the time is the same number as the deposited amount, they will most likely end up with only half of it if they are unlucky or it could take days before they get out if they want a safer method with low amount being wagered.
Then, most reputable casinos do have KYC so I doubt they can just exit like the way they entered. They will have to go through many requirements before they can get away and this is part of online gambling sites to keep their business protected. Most reputable online casinos are trying to lengthen their business so they will have to comply with the government rules. One of those is the limited amount for a non-KYC user withdrawal just like local exchange does.

EluguHcman

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Quote from: AbuBhakar on December 03, 2023, 12:24:44 PM

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?

The main thing is maintaining a good reputation. I dropped an update here sometimes ago ago concerning Binance crytop exchange delisting some crytop currencies and some sport trades which must of the actionate reasons where unmentioned rather they said it was the platforms inabilities to meet up some targets demanded but deep inside of me, I felt they did that to limit itself from some essences to avoid or limit risks to tanish its reputable.
The prove of CZ from Binance criminal indulgences is yet to be made known even they Binance pleased guilty.
The same thing could be equivalent with the Mixer to be ejected out from the crytop casino and if so, it is to maintain its reputations.
This is gambling board which is periodically about gambling.
I must say that either an organization or an individuality should one be taking control of it's emotions of definitely a lost of itself to maintaining a reputable gambling budgets and personalities due to the lack of control at when proefficiently making huge profits.

However, the necessity of mixer not going to be running in this platform anymore may be to a reputable maintenance of the platform and crytop as a whole.

piebeyb

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That's why this forum is very strict about money laundering, especially the big online casinos that have a good reputation in this forum also always prioritize prohibiting anyone who is detected carrying out money laundering, don't confuse it with a mixer because it works differently, until now online casinos are not the place to do it. money laundering so most of the funds that enter the casino will never be successful and safe to withdraw.

In contrast to the way mixers work where money laundering can be done easily without strict regulations, casinos always anticipate that any user wants to launder money, I don't think anyone will think that they will succeed in laundering money in an online casino, I guarantee that will fail and online casinos also pay taxes to the government as well as being sponsors of big sports so it seems rather unlikely that the mixer case will be equated by online casinos in this forum. Grin

ethereumhunter

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Quote from: noormcs5 on December 06, 2023, 03:17:23 AM

No matter how many scam casino will be busted by the government, still there will be no shortage of scam casino because it won't take much for the scammer to make new casino and try to scam the innocent gamblers.

This does not make the casino business illegal. And therefore there is no chance for the gambling campaigns to be ban on this forum, unless they are big scammers and forum admin prohibits them. (Only the scammers ones).

Yes, that's true. Scam casinos will definitely exist continuously and it is like a never-ending journey to uncover scam casinos. The fraudsters can get other victims from the new casino scams they create because the fraudsters can use different methods than before. On this forum, we have often warned people not to try scam casinos, no matter how attractive the promotions they provide. But because people are still tempted by promotions that look too good to be true, they end up being fooled and losing a lot of money.

This forum is very wary of scam casinos and members here will provide reviews if they find any irregularities or suspicions about the casino. They will immediately warn us all to be more careful in choosing a casino.

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Quote from: AbuBhakar on December 03, 2023, 12:24:44 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?

This issue has similarities, but remember the fact that the flag industry has also been accepted and licensed to operate easily in many places. Regarding money laundering, there is no one tool to blame. Because, even when it is prohibited, people can still find different ways to use it. Do mixers deserve to be abolished? This has been clearly stated, so please respect the decisions of the operators. As for gambling, I think that will not happen because if you only look at small aspects to conclude, that is not the way to play operating silver. Let's just consider that this is a small part of the activity here, and we are the people who gamble to relax, make money, etc. in very large numbers. It doesn't mean that this environment is only gambling, so think openly.

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Quote from: AbuBhakar on December 03, 2023, 12:24:44 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.

yup but that is for those Centralized casino that implements KYC process but what about those who are not? I mean those casino that Decentralized maybe that is somewhat we must face for some reason.

Quote

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?

this will never happen if those casino will comply and act accordingly I mean that they will follow all the guidelines government is imposing so they will not be the next target mof each government.
we knew how terrorist is acting these days and yeah this is what was the target of these tightness , also the hackers in online that uses same thing to hide their identity .

|MINER|

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If any casino is involved in any such illegal activities by going above the law then of course I think those casinos will be seized like those mixers one day or the other. However, the casinos whose main purpose is scamming is a different matter. However, I don't think such incidents will happen in casinos because we have seen that big well reputable mixers have been seized due to various legal complications. But in the case of gambling, the matter is a little different, all the big gambling casinos are licensed by maintaining the AML policy of the authorities.

Outhue

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Money laundering on casinos are very possible but it can never happen from the customers side, it will or benefit the casino owner if they are corrupt and also I believe it will be easier for them if they are running the casino offline.

I think the most common money laundering strategy involves the conversion of illegal money into physical casino chips, which are played with in different games before they cashed out as clean money, maybe even in form of a check.

This is why running a casino today is not that easy, you have to register the casino and get licensed, also you have to keep paying taxes, I don't use a casino that isn't regulated for this purposes, unregulated casinos are illegal casinos, they are not licensed and they don't pay taxes.

noormcs5

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Quote from: ethereumhunter on December 05, 2023, 01:29:18 AM

Quote from: Litzki1990 on December 04, 2023, 08:43:42 AM

This can be a guarantee for online casinos if they require KYC verification before getting official approval. Online casinos or gambling sites can cheat so if new casinos have KYC verification then members can gamble there safely. If the casino sites cheat then the victims of that fraud are the users but in this case we have to take utmost care and play gambling in online casinos. Online casinos are full of gambling, so you should choose the sites that are relatively low risk and the sites that are somewhat trustworthy in conducting your gambling activities.

Indeed, online casinos can deceive their members by carrying out KYC verification. But with the government tightening its regulations, it is unlikely that scam casinos will be able to carry out their plans so easily as all online casinos may come under closer scrutiny. Scam casinos may also decrease because these casinos may be detected by the government as scam casinos so that the government can immediately act to catch them. We must be able to choose a trusted casino that we find through research, especially by looking for trusted casinos from this forum so that we will not get fraud from those scam casinos.

No matter how many scam casino will be busted by the government, still there will be no shortage of scam casino because it won't take much for the scammer to make new casino and try to scam the innocent gamblers.

This does not make the casino business illegal. And therefore there is no chance for the gambling campaigns to be ban on this forum, unless they are big scammers and forum admin prohibits them. (Only the scammers ones).

target

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It's usually the casino itself that launders money but it happens mostly in offline casinos. With crypto, there is a chain that can be traced so it's hard to do it unless the casino itself permits the activity making the transactions legal.

Streamers can be used for this kind of money laundering so the future of advertising is one day mixers or casinos are not allowed anymore, I guess streamers win after.

ethereumhunter

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Quote from: kotajikikox on December 05, 2023, 07:10:42 AM

is there any scam casino owners that had been in the bars now? I mean is there any one at least ? i tried searching here in forum but there seems to be none that makes it clear because I think there are no complete case to be filed if they are scamming players just by banning their account because of none KYC verifying or because they are caught being cheater in casinos?
in this those scam sites are making their place in crypto casino and yes scamming their players but not putting behind bars.

Scam casinos can do whatever they want without us knowing, even if it's just a KYC verification problem or because of a withdrawal problem that the casino still needs to process. But usually, the cases that often occur are casinos accusing gamblers of cheating the casino or not wanting to pay gamblers their winnings so gamblers complain about this in forums. And even though gamblers complain on forums, that doesn't mean the casino resolves the cases that occur at its casino. So that is why we have to be careful in choosing the casino.

Money laundering cases could occur in casinos because we as ordinary gamblers also only know if there are cases like that if there is public news saying that the casino is involved in a money laundering case. And that's what we have to avoid by choosing a trusted and popular casino so we don't experience any problems.

Webetcoins

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The fate of casinos has nothing to do with what happened to mixers because casinos are not decentralized or promote privacy and anonymity. In contrast, mixers were/are mainly used for these purposes. Besides, just because mixers won't be allowed in the forum, it doesn't mean that mixers will cease to exist, there will be mixers available even after they are banned from here but it's just for as long as the authorities don't decide to take them all down at once.

However, none of that traffic should convert towards gambling because you can't do anything you want on a gambling platform anymore. Those were old times when a user could make huge deposits and withdrawals in cryptocurrency casinos without asking them a single question. Nowadays, the rules are strict and even if you do a very small but unusual thing in a casino, your account will be blocked and you will be asked for KYC verification to unlock it. So, casinos don't have a threat because of what happened.

Fatunad

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Quote from: kotajikikox on December 05, 2023, 07:10:42 AM

Quote from: ethereumhunter on December 05, 2023, 01:29:18 AM

Quote from: Litzki1990 on December 04, 2023, 08:43:42 AM

This can be a guarantee for online casinos if they require KYC verification before getting official approval. Online casinos or gambling sites can cheat so if new casinos have KYC verification then members can gamble there safely. If the casino sites cheat then the victims of that fraud are the users but in this case we have to take utmost care and play gambling in online casinos. Online casinos are full of gambling, so you should choose the sites that are relatively low risk and the sites that are somewhat trustworthy in conducting your gambling activities.

Indeed, online casinos can deceive their members by carrying out KYC verification. But with the government tightening its regulations, it is unlikely that scam casinos will be able to carry out their plans so easily as all online casinos may come under closer scrutiny. Scam casinos may also decrease because these casinos may be detected by the government as scam casinos so that the government can immediately act to catch them. We must be able to choose a trusted casino that we find through research, especially by looking for trusted casinos from this forum so that we will not get fraud from those scam casinos.

is there any scam casino owners that had been in the bars now? I mean is there any one at least ? i tried searching here in forum but there seems to be none that makes it clear because I think there are no complete case to be filed if they are scamming players just by banning their account because of none KYC verifying or because they are caught being cheater in casinos?
in this those scam sites are making their place in crypto casino and yes scamming their players but not putting behind bars.

Wayback into those previous years on which things turns out to be that anonymous on everything, also back into those platforms which its really that something you dont know about its team or simply they are really not doxxed or simply they are anonymous. We've seen scams in the past and its true that its owner didnt really get caught since no one knows about it. Anonymity and non regulated things does have their own
advantage and disadvantages and this is why people would really be having their free choice whether they would be dealing on something that regulated or they would really be opting in into those heavily regulated ones.

Making some laundering money via making use of these platforms is never been that simple or really just cant that possible and there would really be no money launderer would really be making out
this kind of option on which they do know that they could potentially lose all of those balance specially they would be needing to hit up at least x1 of your deposit and we know
on how risky it would be.

Dr.Bitcoin_Strange

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There's no way a casino will be ceased, unless for anyone who appears to operate against the policy of their license for operation. If a casino decides to operate like a mixer and it is discovered that any laundering activity is going on with such a casino, then the agency will carry on their investigation to confirm if the suspicion is actually true. Until they verify, they won't act. Mixers are not the same as casinos, so I don't really see casinos being affected in any way.

Wiwo

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For the souls fact that money laundering, illegal financing and terrorism financing have been on the increase since time past and mostly used is the banking system and a lot of those thief's will rather avoid risking their stolen founds through gambling since their already know that, there is high possibility for them to lose in trying to meet the wagering requirements for the casino, so for sure, casino is not the best place to go for them when trying to carry out their money laundering act.

In fact most time those that launder money choose to use cash stashed since they know that with that, their transactions will be totally untraceable, it only a few time that, there can be any possibility of casino becoming tool for money laundering it's upton impossible.

aioc

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Quote from: Wiwo on December 04, 2023, 01:25:23 PM

I believe that casinos have some anti-mixer mechanism, I am just assuming though, because some exchanges already have such features in place to detect mixed coins, and detect bitcoins, this way every inflow from mixers may result in account limitation and investigations, which sometimes is part of the anti-money laundering rules that comes with the license.

Casinos are fully aware of the possibility of criminals using their platform to wash their dirty money so I'm sure they have that mechanism, and the KYC is their way to verify the sources of the funds, they even go to the extent of asking for the sources and the screenshots of where the source comes from, money launderers are aware of this, so I don't think money launderers are that ignorant to take those risks when there are options available that they can use.

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So we all have nothing to worry about when it comes to money laundering control in casino, The gambling system is more secure and it have a wager mechanism that puts every deposit at risk.

Yes, I believe so, the casino is still safe from money launderers until we hear authorities close down one big casino for money laundering, and so far there is none.

Topic: Money laundering in crypto casino - page 3. (Read 987 times)