Latest in: Money Laundering News
Macau clamps down on cryptocurrencies
The Monetary Authority of Macau (AMCM) has issued guidance prohibiting financial institutions operating in the region from providing financial services to any businesses involved in virtual currency, citing concerns...
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The Federal Court has fined gaming operator giant, Tabcorp $45m for breaches of anti-money laundering and counter-terrorism financing laws on 108 occasions over a five-year period. In July 2015, AUSTRAC filed papers in the Federal Court against the three Tapcorp group companies for extensive, significant and systemic noncompliance with... -
Australia and China agreed on Tuesday to share intelligence about potential financial crime as part of a crackdown on cross-border money laundering and terrorism financing, as Australian Justice Minister Michael Keenan visits Beijing. Keenan told reporters during his visit that he had also raised concerns with Chinese officials over... -
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The American Gaming Association continues to hammer away at the idea that the federal “prohibition” on US sports betting is one of the more ineffectual laws on the books in the US. Lots of football bets, but most are illegal There will be about $90 billion dollars wagered on NFL and... -
Hong Kong police confiscated more than HK$400 million in illegal soccer bets in a series of raids hours before the Euro 2016 semi-final between Wales and Portugal – more than three times the amount seized during the whole of the 2012 tournament. Nineteen people from five bookmaking rackets including... -
Hong Kong police have confiscated about HK$130 million in betting records and arrested more than 50 people in a crackdown on illegal football gambling launched ahead of the Euro 2016 tournament. One of the bookmaking rackets, which had raked in orders of HK$31 million, was broken up on June... -
An undercover reporter has revealed details of an underground gambling den operating in Beijing where players can lose millions of yuan in card games, according to a newspaper report. The illegal gambling was carried out in an expensive apartment in the west of the capital near its third ring... -
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Nineteen people from four states were arrested in connection with an international drug trafficking and illegal gambling ring that authorities allege was headed by a former college athlete. Arrests were made in Southern California, Sacramento, Phoenix, Louisiana and Virginia, the U.S. attorney’s office said. Two other people were previously... -
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WASHINGTON, DC – The Financial Crimes Enforcement Network (FinCEN) today announced its first settlement with and assessment against a “card club” gaming establishment. Oaks Card Club d/b/a Oaks Club (Oaks), of Emeryville, California admits that it violated the program and reporting requirements of the Bank Secrecy Act (BSA). The... -
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Police have smashed an illegal betting syndicate in Macau for allegedly taking the equivalent of US$645 million in bets on World Cup matches. It’s believed to be the biggest ever raid on an illicit football bookmaking racket in the Asian casino capital, according to police. The gambling ring used... -
A new Royal Decree published at the end of April spells out the responsibility regulated gambling operators in Spain have for complying with money laundering laws. Before winnings in excess of €2,500 can be paid out, operators must confirm the player’s identity by checking copies of identity documents. DGOJ... -
Dressed in a grey hoodie and jeans, James, 24, looks like just another lost soul in the high street, shuttling between the six betting shops in an east coast seaside town. It’s a weekday morning and if you catch up with him inside a bookmaker, you’ll find him peering... -
Shops owned by one of Britain’s biggest high street bookmakers were used to launder almost a million pounds of money linked to drug dealing, the gambling regulator announced on Monday. In a rare admission that betting shops could be used to conceal the source of ill-gotten gains, the Gambling...
