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Clarification Could Help Illegal Companies

A U.S. Supreme Court ruling this week fully clarifies money laundering convictions, and the new details and specifics could actually benefit online casino sportsbetting and gambling companies in the U.S. The fact is, money laundering is considered by some as a broad sweeping offence that involves smuggling and concealing money. In actuality though, money laundering specifically refers to disguising the nature of the transaction – a distinction that could prove essential in sportsbetting and offshore online casino trials. The ruling comes down as a part of the Cuellar vs. United States and the United States vs Santos cases. Both of these cases involved money smuggling and money laundering debates.

In the Cuellar case the individual was caught smuggling money from Mexico, and while this is against the law, merely smuggling the money is not the same as money laundering. The Supreme Court ruling specified that a money laundering conviction must specifically show that the smuggling and money transactions were “designed in whole or in part to conceal or disguise the nature, the location, the source, the ownership, or the control” of the monies. In the Cuellar case, the individual was given a longer sentence because of a money laundering conviction, versus the shorter sentence that comes from a money smuggling conviction.

As far as the online casinos and sportsbetting operations are concerned, this conviction could prove vital. Because of the UIGEA it is illegal for offshore internet gambling sites to access the U.S. market, but providing that a company does offer internet sportsbetting or internet gambling, they are only guilty of money laundering if they attempted to funnel the money through another company, or pass the funds off as legitimate from another business.