Home	Tutorial	Online Casino Reviews	Best Online Casinos	Casino Software	Casino News

Online Casino Gambling --- Casino News

Money Laundering Successful?

The Canadian land gambling industry was subject to an informal sting operation last week thanks to claims by some that the money laundering at the Canadian land casinos was possible. With some investigative work and more than $20,000 in funds, the News Team headed over to an Ontario land casino to test the system. The question of money laundering is a key argument within both the land and online casino gambling industry. The fact is though, both industries have safeguards in place to ensure that possible money laundering and criminal activity is reported to the Canadian Police and the local Gambling Board if necessary.

The sting operation pulled off by the CBC News team showed that at least some of the mechanism in the process are working – for the land casino industry that is. After the news team cashed out more than $10,000 from the casino, the officials at the Ontario venue then reported the transaction to the police, as is policy.

There are few surefire safeguards against money laundering at the land and online casinos – but there are certainly measures that can be taken to limit the prevalence of illegal activity. The Second Life virtual community for example allowed in-world casinos at one point in time, and after this was identified as a potential area for criminal activity, in-world casino gambling is no longer allowed within the site.

The CBC News report was limited in how far the investigation was able to verify that the money laundering safety procedures worked, but the casino at least did report the processing of more than $10,000 in winnings.