Casinos and Gaming
Bookmakers, horseracing, and
lotteries all are cash intensive, and offer a potential source of
recently acquired wealth.
Casino money laundering is
usually at the placement stage, converting cash into cheques. The
cash is used to buy chips, and then the chips can be converted into
a cheque drawn on the casino’s account. The credit can also be
transferred to a different jurisdiction where the casino operates,
and the funds can be made available there.
One method of gambling is to
bet in such as way as to risk very little of your capital (e.g. by
betting on favourites). The winnings can then be withdrawn and are
the verifiable winnings from gaming.
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