Casino and online casino list for Ireland

Casino money laundering never far from the news

By mr-casino on 2015-07-15 13:27:01

It seems that the casino industry is under attack from the authorities who are trying to clean out corruption and money laundering across the world. We know from previous reports in online casino news features that China in particular has been waging almost a war against Macau casinos to such an extent that footfall has dropped dramatically especially among the high rollers who saw the casino as a way to either spend dubiously obtained funds or convert it into legal winnings. They are now extending their reach into Australia and even the USA from where there are also reports in the general casino news that up to $40,000 in fake cash can be confiscated in a single week, the idea being that chips are purchased with counterfeit cash and the chips are later turned back into real cash. This makes online casinos probably one of the safer places to be as it is very hard to use real cash although there are exceptions but any sizeable amount of cash deposits at an online casino would be studied carefully. One report in the casino news suggests that the USA is particularly vulnerable as casinos there often accept large deposits in foreign funds before a gambler arrives which can be accessed in dollars to fund gambling or other entertainment and any excess is returned but then it is “clean” money. There is no doubt that land based casinos are more vulnerable than online casinos to this type of fraud but it does happen at online casinos as well. It is going to take some special action to stamp this out altogether as it has become a worldwide problem with countries such as India, Russia and even Kazakhstan known to be involved as well as China and the chance of making a lot of money is always going to be associated with corruption and probably prostitution.