Crypto Casinos vs money laundering.

[seoincorporation]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

[Lanatsa]

So, what do you say, does crypto casinos really care about money laundering?

They wont really be putting much emphasis on that as long it wont really cause any alarms or being caught by regulators as long they do able to get those verification on the said user then they wouldnt care
on where those funds came from.Its true that majority of these casinos whenever there's big money involved then expect that there would be some KYC which its already not surprising yet they would definitely
be asking out since they are licensed which simply means that they are regulated and they do need up to comply things for the sake of their business.
Money laundering doesnt only limit out on gambling industry but also in other paths as well.

[Oshosondy]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

But as long as the casino noticed the money is laundered, it would be seized.

Money laundered may be difficult to know or traced, but known, it would be seized for appropriate investigation.

So, what do you say, does crypto casinos really care about money laundering?

I have used quite few crypto gambling sites, they include AML and other rules against criminal activities in their ToS.

[ryzaadit]

Never questioned a money on "Casino" ~XD

But the case for "Money Laundry" most casino have a golden rules, each deposit need to have 1x turnover before they withdraw. So, the user need to completed first the turn over otherwise is gonna to get "KYC".

CASINO not always asking "KYC" in the beginning, however for this case they mostly asking if the person deposit but not betting anything & make your account getting triged to be marked potential "Money Laundry".

[Rruchi man]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Crypto casinos definitely care about Money Laundering as they are also casinos and are subject to enforce AML & KYC regulations to avoid penalties that can cripple their business. They may not make it too strict so as not to scare away some customers who may be wondering the importance of these details, but they must show a level of compliance to prevent being shut down by the people in charge of ensuring that AML & KYC RULES are enforced.

[Stalker22]

So, what do you say, does crypto casinos really care about money laundering?

Well, look at it this way. As a gambling industry, one of its problems arise in the form of the regulatory requirements in different jurisdictions which can vary by state, country and even within countries too. Most of these casinos are not focusing anti-money laundering measures but most of them are working in full accordance with the laws and guidelines created by the government and other gaming institutions. If the government has an agenda it is going to want to push it forward, they are in power after all. The most likely situation is that the government will require its casinos to be AML compliant.

[dunfida]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Crypto casinos definitely care about Money Laundering as they are also casinos and are subject to enforce AML & KYC regulations to avoid penalties that can cripple their business. They may not make it too strict so as not to scare away some customers who may be wondering the importance of these details, but they must show a level of compliance to prevent being shut down by the people in charge of ensuring that AML & KYC RULES are enforced.

For sure they are doing their best on not on being caught if they arent really enforcing it that much but since these business do really make out some reports about financial flow or something in related then it is really

somewhat hard to make out some exemptions on whatever big transactions would be coming in but we do all make out some presumptions yet it is really hard to tell on what are the things that do happen
internally.
Whatever site or business it would be as long it is regulated or licensed then expect that everything would really be known by those governing bodies.

[aioc]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

You have to prove that because you say to use the most that mean the majority of high rollers, if that is the case then the casino is in big trouble for having a weak system to detect money laundering among their high rollers

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

That's too much work for them if they have the full details of these high rollers who are suspected of the mastermind of scams and just trying to use casinos then just one alarm from authorities and they can easily hand over this information.

So, what do you say, do crypto casinos really care about money laundering?

The fact that they are already doing KYC is already enough they are already compliant and they will cooperate or if one of the wallets that these high rollers gets an alarm for, let's admit high rollers are their lifeline they don't want to discourage them from playing on their casino, for fear of looking for other casinos.

[Taskford]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Maybe before they can run there schemes thru the casino which didn't require yet a KYC. But unfortunately I think the law towards casinos and certain requirements tighten up that's why many fraudulent people struggle now to use casino as their platform to launder money as they require a KYC to their users and also especially they request a huge amount of money for withdrawal.

[goldkingcoiner]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I am not sure we can equate money laundering as the same as scammed money. Both are illegal, sure, but that still does not have anything to do with the other. If you get caught with scammed money then obviously that money will be seized. As far as money laundering goes, it might not be allowed to be seized by the casino unless they recieve an order from the police to seize the laundered money, but you will still get into trouble with the law.

I doubt any online or offline gambling casino, whether crypto based or fiat based, cares about enforcing the law. They do it because they have to. Of course they would rather make more profit and not give any of their players up if they had a choice.

[Adbitco]

So, what do you say, does crypto casinos really care about money laundering?

In as much as they want clients to make use of their crypto casino site they also care about user interest and protect them against money laundering, and I m sure they are trying their best to make sure they deal away with money laundering which is why they could request additional Kyc and proof address to avoid money laundering. There have been many casino site they tag scamming people but for me i would say its their highly level security to fight against money laundering or any mal-activity which may likely occur from the site and they have their T&Cs.

[harizen]

what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

That is violating the privacy of the users. That is something not comfortable for us.

The investigation should just be done if the account triggered the "alarm" or something along those lines.

So, what do you say, does crypto casinos really care about money laundering?

I will put it this way:

Regulated ones = YES
Unregulated ones = NO
Shitty ones = FFA

For crypto-casinos to fully operate without a problem, they really need to follow anything related to legality.

[romero121]

Money laundering happens in all possible ways. If the casino finds something wrong, they're gonna freeze the fund and report it. Because, trusted platforms operate following certain guidelines. Overruling could end the casino with some problem. It is very hard to segregate whether it is proper money or laundered or stolen. When the withdrawal is huge, surely they're forced to do KYC in most casinos.

[AmoreJaz]

what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

That is violating the privacy of the users. That is something not comfortable for us.

The investigation should just be done if the account triggered the "alarm" or something along those lines.

So, what do you say, does crypto casinos really care about money laundering?

I will put it this way:

Regulated ones = YES
Unregulated ones = NO
Shitty ones = FFA

For crypto-casinos to fully operate without a problem, they really need to follow anything related to legality.

we can't deny the fact that it is already happening in some casinos. these people find a good way how to wash their money. and they are enjoying the process also. because the possibility of winning is always there aside from getting their money clean. for some regulated casinos with license, they are also on the look out for these high rollers. but i don't think they will stop them if they haven't violated anything with their terms.

[Yogee]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering

KYC isn't a 100% prevention tool but at least it gives the authorities impression that these casinos are complying.

what casinos should do is to investigate the source of the deposits to fight against this illegal activity

That would be time consuming and additional expenses on their part. Some top exchanges are paying third parties like chainalysis for tracing.

So, what do you say, does crypto casinos really care about money laundering?

Most casino owners probably do not care who gambles in their platforms but they are bound to obey those who issue them licenses. It's all about business for them at the end of the day so they have a job to balance the interest of players and the regulators.

[bittraffic]

I don't think the casino will look into it. Unless the authorities had already given them the ultimatum. If the user submitted the required KYC and the coins are clean, business goes on. The casinos themselves are often laundering by mixing the money with thier profit, I suspect the streamers hired to do the marketing for them are somehow involved without them knowing.

[usekevin]

Casino is the easy way of winning huge money in a short period of time.Money laundering was not a good way of money flow in the economy.Money laundering will spoil the economy like a shadow and create economic crisis in the certain period of time.Casino with the kyc was the welcome phenomenon as compared to the old way of casinos.Before the casino was used as the way to money laundering and people used it as a tool to laundering the money.Then they showed the money like the casino wins.Now the kyc on casino prevents the money laundering using casino.It was widespread concept to the casino now.

[ralle14]

So, what do you say, does crypto casinos really care about money laundering?

I'd say they somewhat care about it because someone mentioned earlier about the deposits having rollovers and back then casinos don't have that kind of rule. Some of the rules that the casinos have in place right now might not be enough to stop money laundering but I still think they're putting in a bit of effort. Looking at it from the casino's side it's not their main priority since it's just one of the many issues that can be abused, and like you've said even though they discourage it they still get something out of it.

[Wexnident]

KYC is definitely not enough. It's a security thing yes, but not in the form of immediate action. If the authorities don't exactly do anything e.g., perform a check specifically on that casino, then it wouldn't really matter even if the casino had thousands of KYC details in their system. I mean I think no one is dumb enough to include in their KYC details the fact that they were money laundering. Checking each individual even with KYC would require a ton of manpower and I don't think casinos which is a business would be willing to do so much for the government.

[seoincorporation]

But the case for "Money Laundry" most casino have a golden rules, each deposit need to have 1x turnover before they withdraw. So, the user need to completed first the turn over otherwise is gonna to get "KYC".

This isn't a problem at all, the money laundering process is about get huge wins on the site and then cash out those wins, that's easy when you have unlimited money 

we can't deny the fact that it is already happening in some casinos. these people find a good way how to wash their money. and they are enjoying the process also. because the possibility of winning is always there aside from getting their money clean. for some regulated casinos with license, they are also on the look out for these high rollers. but i don't think they will stop them if they haven't violated anything with their terms.

You hit the nail mate, the process is fun and every one wins.

If some one has to complain about this are the governments but they are too busy in petrol and war right now, so, this looks like a washing machine for the long term, lol. #SadButTrue

[electronicash]

KYC is definitely not enough. It's a security thing yes, but not in the form of immediate action. If the authorities don't exactly do anything e.g., perform a check specifically on that casino, then it wouldn't really matter even if the casino had thousands of KYC details in their system. I mean I think no one is dumb enough to include in their KYC details the fact that they were money laundering. Checking each individual even with KYC would require a ton of manpower and I don't think casinos which is a business would be willing to do so much for the government.

exactly, why would they submit real kyc data if they plan to launder. they'd better be just use cash to launder. i'm not that rich to have tried it but most of the informed crooked rich guys says its easier to launder in cash than in crypto. why should they go all the troubles using crypto casino when there is a safer way.

[TopT3ns]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering

KYC isn't a 100% prevention tool but at least it gives the authorities impression that these casinos are complying.

But with the existence of KYC, it can provide sufficient information for gambling places to be able to know that the person has money not from money laundering, but this all depends on the policy of the gambling place.

Most casino owners probably do not care who gambles in their platforms but they are bound to obey those who issue them licenses. It's all about business for them at the end of the day so they have a job to balance the interest of players and the regulators.

Usually when a gambling place applies a confirmation such as a cellphone number to ensure that the owner of the account is you, while if someone applies KYC, it is also possible that the gambling place has been monitored by the government and entered the list of gambling places that have operational legality.

[coin-investor]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

If casinos are being used and exploited for money laundering then the whole industry is in trouble the AMC will closely monitor the whole industry but until there are no proofs that it is widely used by money launderers, we can only speculate, casinos like Stake.com are very strict on using their platform for a deposit then withdraw only, and with their strict KYC to make sure that people marked by AMC as money launderers and scammers are not using casino platform to launder money.

[Oasisman]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

Not gonna happen TBH. This will going to shoo away their customers and potential customers. Most people in the gambling scene doesn't want their identity nor any of their backgrounds to be exposed, let alone checked as part of the KYC.
I we all noticed, with the recent implementations of the KYC, a lot of gamblers complain about these. One thing we don't like about is when we're background  checked financially.

So, what do you say, does crypto casinos really care about money laundering?

Nope, not a single casino give a damn about what's right and what's not, as long as they're compliance align with the law then they're all good. Regardless, of how dirty the money is. It's all business anyway, asking where the money came from is non of their business I guess.

[_act_]

If casinos are being used and exploited for money laundering then the whole industry is in trouble the AMC will closely monitor the whole industry but until there are no proofs that it is widely used by money launderers, we can only speculate, casinos like Stake.com are very strict on using their platform for a deposit then withdraw only, and with their strict KYC to make sure that people marked by AMC as money launderers and scammers are not using casino platform to launder money.

That is just it, what is the essence of strict KYC. KYC alone would be discouraging people to use any KYC sites like casino for money laundering. What I have known about money laundering is that people use legit businesses with it. The money that was laundered would be added with legit business money. This is the reason that it is difficult to track money laundered at times, because rich people which may even be publicly known are laundering the money, but their legit business is hiding it.

[xSkylarx]

So, what do you say, does crypto casinos really care about money laundering?

A criminal that is wanted by the authority won't use his real identity on those crypto casino but instead they would use someone's info to pass the KYC verification. As long as the gambling platform don't detect any malicious activity on the user's account and completed the KYC verification, I don't think they will check deeply the source of its incoming deposits as well as withdrawals. The authorities can't just accuse them of money laundering if their user's database have no criminal records.

[Boristhecat]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

You can launder money everywhere and I would not say that the casino is the most convenient place (high taxes and high suspicions). The most effective way to launder money is to buy/open a business (preferably where there is a lot of cash flow). The main thing is that this business should at least have zero profitability - you just have to add a little dirty money to the business income and at the end you will receive completely clean money. Compared to a casino, this is an ideal option, since in business you can regularly make a profit, while a person who regularly wins at a casino is suspicious.

[Oshosondy]

You can launder money everywhere and I would not say that the casino is the most convenient place (high taxes and high suspicions). The most effective way to launder money is to buy/open a business (preferably where there is a lot of cash flow). The main thing is that this business should at least have zero profitability - you just have to add a little dirty money to the business income and at the end you will receive completely clean money. Compared to a casino, this is an ideal option, since in business you can regularly make a profit, while a person who regularly wins at a casino is suspicious.

So goes to terrorism financing too, they require very tedious investigation. Yet terrorism continue to exist, so money laundering continues to exist too. Because a money launderer is using a website, gambling on the website, that does not mean the website would know, even the money launderers are having bank accounts successfully, and successfully using it with money laundering. But it is against one of the ToS of centralized platforms that involves money, if anything like that is noticed, the money would be seized just like I said before.

[makishart]

To be honest casino will not able to determine where the money came from. that's unlike exchange site but in my opinion if i do believe of mostly of money that came from the crime were always going to the mixer rather than casino. I meant this needs more analyzation.
In my opinion the platform will not care about that. Sending money to the platform is also a win and lose decision caused by sometime the account can be banned or frozen and then money that already deposited became useless.

[rhomelmabini]

So, what do you say, does crypto casinos really care about money laundering?

I think yes, unless they don't want to get caught by the AML agencies or something similar that will pursue both the launderers and the casino. I think those who want to launder nowadays will find more convenient in an offline setting compare to the online stuff considering it will just take small effort to track down criminals - Tornado Cash incident to name a few and recent.

Casinos that care are likely those casinos that want to stay in the game for a longer timeframe and has the vision and mission to profit and to entertain their players will really do, just my two cents.

[Darker45]

They probably don't. What they care about is that they make money. But since they are legally registered and licensed from the authorities, they've got no choice but to comply with policies and regulations. They're bound to. Majority are implementing KYC even if this would only discourage certain gamblers. But the implementation is clearly loose in order to keep the money flowing in. But why should the crypto casinos be strict in KYC implementation when brick and mortar casinos don't even require KYC from clients?  

[rahmad2nd]

So, what do you say, does crypto casinos really care about money laundering?

The problem of money laundering is not a recent phenomenon and has always been associated with both land and online gambling, especially those based on crypto which are closely related to money laundering and are no exception for all exchanges.

I believe that the manager or owner of a crypto-based online casino has ways and scenarios related to money laundering. they also have rules and regulations related to money laundering matters, they will quickly identify any suspicious activity.
so, clearly important for them because every licensed casino will comply and follow the rules, so that they avoid the entanglement of legal sanctions that can damage the credibility and good reputation they have.

[_act_]

But why should the crypto casinos be strict in KYC implementation when brick and mortar casinos don't even require KYC from clients?   

From those bricks and mortar casinos, you can know the identity of people that are playing with you, nearly all of them are from where you are residing, unlike online casinos, if no KYC, no identity at all, which means that you are dealing with anonymous person.

[Yogee]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering

KYC isn't a 100% prevention tool but at least it gives the authorities impression that these casinos are complying.

But with the existence of KYC, it can provide sufficient information for gambling places to be able to know that the person has money not from money laundering, but this all depends on the policy of the gambling place.

KYC verification policy under AML mostly covers name and adrress or contact information. I don't think it gives casinos enough information about whether the user is laundering money or not. Have you experienced a casino asking you about the source of your crypto funds? Do they ask you if you're employed or not? Some regulated centralized exchanges probably does but I've never heard of crypto casinos doing that.

[robelneo]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

Scammers are good they have a way to deceive authorities to was their money and casino is one of them but casinos can do so much, they just do what the regulators ask them to do and they will be compliant because of their license and they want to continue to operate, but they will not go to the extend of investigating the source of funds of every client that are playing on their platform, they will just do what they are asked to do if they will do that they will lose valuable VIP that sustains their platform

So, what do you say, does crypto casinos really care about money laundering?

They have their own issue they are balancing everything they have the regulators to please and they have their VIPs that they should not irritate, I don't think they will go to the extent of being investigators.

[Ziskinberg]

....... what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Investigating is not their job anymore, they are casinos that are operating for a profit, so if they have gamblers that are not on the list from the authority, they'll gladly allow them to gamble. Some casinos are just using the words "money laundering" just to scam gamblers.

[madnessteat]

~snip~

Currently, there is more than one way to launder money and I think there are safer ways than spending money in a casino waiting until you get lucky and win a large sum. This scheme may work only if the casino owner is not in business with you, but I don't think he is interested to lose his business because of a possible regulatory inspection.

[ethereumhunter]

I think crypto casinos can be a place to launder money from illegal activities because casinos won't know who the gamblers are playing at their casinos unless the casinos implement KYC on their members. But even if the casinos implement KYC, they will surely get past it easily because their network can provide information that will make their account verified. That's why some big casinos immediately implement KYC for their members to prevent this from happening because this can make the casino get punished by the authorities.

[Kakmakr]

Well, KYC requirements can scale to a level where you have to supply the information that shows the source of your gambling deposits. I think Stake has done it in the best way possible... with Level 1 & 2 just covering the basics like email address and ID card etc.. and then at level 3 and 4 .. it requires you to supply the source of your funds.

So for the average gambler, you can just require an email address and ID documents... but when you step up into "highroller" levels, they can ask for "source of funds" information. The organized syndicates can even fake those documents, so nothing is really bulletproof. (You can hire 1000 small time gamblers to launder money for you.. there are loads of unemployed people that are desperate for income) 

[YOSHIE]

So, what do you say, does crypto casinos really care about money laundering?

Crypto casino they know is deposit and withdrawal, furthermore, place bets, they don't care about money laundering or money Corruption, KYC is another story in money laundering mechanism, KYC is for security and avoid suspicion, fraud and multiple accounts in crypto casino sites.

In the money laundering & crypto casino mechanism, users usually carry out money laundering actions by buying crypto from the proceeds of corruption, after which they will 'bet' on crypto casinos as needed on the casino site.

Money laundering mode in crypto casinos for such purposes, in my opinion to avoid kissing law enforcement officials, they can buy crypto and make deposits to casinos without intermediary bank parties, they can do with other methods and keep the funds in crypto casinos for a while before converting them into legal money.

For now, as far as I know the crypto casinos, never know and don't want to know where the money bet by their customers comes from, bottom line: users have money betting done, win they profit, lose they lose, just two options nothing more in crypto casino.

[Jawhead999]

When the casino ask KYC to the user that has been flagged due to suspicious activity, most of the time his funds will be frozen. During the user already send the KYC to the casino, there's a chance if the casino that partnered with blockchain analysis is investigating where the source come from etc.

But until now I never heard any fraudster or money launder get exposed during playing crypto casinos.

[noorman0]

If KYC is for enforcing AML rules, it's certain that the casinos have their own secretive methods of how they direct their suspicions to this behavior (though sometimes they catch the wrong people). And yes casinos care about money laundering cases in any way to keep the company operating.

[Cling18]

The money being used to gamble is hard to trace and determine if it's from money laundering activities but enforcing KYC will be a big help. They could freeze the account with suspicious activities but not all laundered money will be traceable. Some casinos don't mind checking their gambler's source of funds as long as they're earning.

[KTChampions]

The easiest way to launder money is to make two large bets (or several smaller ones) at different bookmakers on opposite events and go to the tax office with the winning ticket. In principle, I don’t see anything wrong with this, because if the police couldn’t catch the criminal while committing a crime, then there’s nothing to be done, and if he pays taxes, then that’s good.

[Stalker22]

In principle, I don’t see anything wrong with this, because if the police couldn’t catch the criminal while committing a crime, then there’s nothing to be done, and if he pays taxes, then that’s good.

Imagine if someone stole your car and then the next day showed up on the car market selling it. The police would be like, "Well, we could not catch him while he was stealing your car, and now he is free to sell it at the market." That cannot be right, because legally speaking, you are still the rightful owner of that car.

The same principle applies to money, because money obtained illegally belongs to the original owner(s) and not to criminals.

[Zackgeno96]

Most casinos that only focus on crypto have little to do with money laundering. You make a deposit with crypto and then you have it paid out again in crypto. That has nothing to do with money laundering. It is of course a completely different story if you play at a casino, deposit there with crypto and then want to cash out on your bank loan. Then you could suffer from money laundering, but it could also simply be legal money. I have read that when you make a deposit via crypto, you are then obliged to also make a payout via crypto. That would immediately solve all problems and you can no longer launder money.

[passwordnow]

So, what do you say, does crypto casinos really care about money laundering?

I'd say yes but they can't stop it coming to their platforms because they're uncontrollable when it's about the volume. They might take some and stop for a little while but to stop them completely, I don't think that it will happen. But since a casino is also a business, if the transactions are volumed up, will they still worry about it? Well, it could be a case to case basis and there could be casinos that have a strong integrity, we will never know and only time can tell for the others.

[Hispo]

The money being used to gamble is hard to trace and determine if it's from money laundering activities but enforcing KYC will be a big help. They could freeze the account with suspicious activities but not all laundered money will be traceable. Some casinos don't mind checking their gambler's source of funds as long as they're earning.

Crypto currency transactions are difficult to check in large numbers, that is why most of the times casinos focus on highly suspicious deposits, KYC helps but it is not a panacea to these issues.
Those casinos that probably do not even mind to check the origin of the funds may not opperate under the law of countries that take the money laundering quite seriously, like the European Union and the United States of America.

Also, another way criminals would try to clean their money is by depositing Bitcoin/ether and then withdrawing after some bets on a different blockchain, if this second blockchain was a privacy focused blockchain like Monero/Zcash would be ideal for them,  this is probably the reason some big platforms do not opperate with Monero.  

[goaldigger]

So, what do you say, does crypto casinos really care about money laundering?

They care about the regulations and many site are already strict with KYC so basically, they are following the instructions from AMLA and if they saw something suspicious they can easily freeze that account subject for investigation. Crypto casinos can’t totally stop them, since the money came outside their platform and they can only freeze that account I don’t know though what would happen to the money if proven guilty, maybe they will surrender it to the authority or they’ll use it, hard to know though.

[lionheart78]

So, what do you say, does crypto casinos really care about money laundering?

It isn't for the casino to investigate if the money deposit in their platform is laundered or not.  It is the work of the authority.  Remember Casino is a business, and as much as possible they wanted to cater to anyone who is willing to bet on their platform.  All the casino had to do is to comply with the terms and regulations imposed on them. 

Now tell me, do local banks care where your deposit comes from?  I bet no.  They will only do certain measures if someone from the authority tags your bank account.  This can be proven by many bank accounts of scammers that are yet to be frozen due to government has not tagged them yet.

In short, casinos have regulations to follow and that is what they care about.

[Marvelman]

So, what do you say, does crypto casinos really care about money laundering?

It isn't for the casino to investigate if the money deposit in their platform is laundered or not.  It is the work of the authority.  Remember Casino is a business, and as much as possible they wanted to cater to anyone who is willing to bet on their platform.  All the casino had to do is to comply with the terms and regulations imposed on them. 

True, but if the regulator or government institutions require them to report all suspicious transactions, how are they going to do it if they don't do at least a basic check?
As far as I can see they have only two options, either comply to all regulatory requirements or run an illegal and unlicensed business.

Now tell me, do local banks care where your deposit comes from?  I bet no.  They will only do certain measures if someone from the authority tags your bank account.  This can be proven by many bank accounts of scammers that are yet to be frozen due to government has not tagged them yet.

This depends on the legal framework in which the bank operates. For example, all banks in the EU must conduct due diligence on all accounts with "suspicious" transactions and report them to government institutions for further investigation. Without any trigger or tag from government institutions.

[jossiel]

The money being used to gamble is hard to trace and determine if it's from money laundering activities but enforcing KYC will be a big help. They could freeze the account with suspicious activities but not all laundered money will be traceable. Some casinos don't mind checking their gambler's source of funds as long as they're earning.

And that's why those that have been into money laundering knows what to do and they're letting it flow to the casinos so that it won't be traceable anymore.

One reason also why gambling business has such a huge tax because of this reason and probably the government has just accepted the fact that it's hard to trace, thus taxed largely.

[Johnyz]

There’s a lot of money being laundered in casinos, let’s admit that many gambling site didn’t care that much about this one though some site asked for a KYC but I think it’s not that effective on tagging money laundering. KYC can’t prove if you are using laundered money especially if you provided fake documents. Well, this is the problem of the regulatory body and they should impose a strict instructions to every casinos on how they monitor money laundering.

[dothebeats]

The money that the gambler uses to play on a casino is out of the casino's business. Even if something suspicious is happening on the account of the gambler, the source of funds IMO should not be questioned. They are not a law enforcement entity nor do they have any authority to ask gamblers where their money came from. If anything it should be the law enforcement that chases after these money launderers, and they can seek help from casinos with what information they store for the user that the police are looking for.

[DoublerHunter]

The money that the gambler uses to play on a casino is out of the casino's business. Even if something suspicious is happening on the account of the gambler, the source of funds IMO should not be questioned. They are not a law enforcement entity nor do they have any authority to ask gamblers where their money came from. If anything it should be the law enforcement that chases after these money launderers, and they can seek help from casinos with what information they store for the user that the police are looking for.

^Definitely right and probably that thing that you will suspect as a suspicious account when you deposit a large amount and then later on you will withdraw them all. That is not their business to interrogate people about where the money comes from, as long as you deposited it from your own account and don't have any questions, you will be fine. Probably the reason some centralized platforms did not want to link gambling casinos, for example, I have a centralized wallet and send the amount to a gambling platform, but they will not allow it.

[dataispower]

It's allegations because their is no prove to write about, when bitcoin came out new, people started saying that Bitcoin is used for money laundering and many people people believe that, but when they started knowing the truth of Bitcoin nobody raise such allegations again.what i will suggest is that those who thought of money laundering with crypto casino just want to castigates crypto gambling because maybe their have lose on it. To summary this all that information of money laundry is not authentic.

[blockman]

The money that the gambler uses to play on a casino is out of the casino's business. Even if something suspicious is happening on the account of the gambler, the source of funds IMO should not be questioned. They are not a law enforcement entity nor do they have any authority to ask gamblers where their money came from. If anything it should be the law enforcement that chases after these money launderers, and they can seek help from casinos with what information they store for the user that the police are looking for.

Basically, that's true and the casino won't mind where their customers are getting funds as they're a business in that form. If there's something to be investigated then they have to let it through a government agency that focuses on it. But these days, due to KYC and other types of verifications, it seems that they're sharing a burden now which is a task of the government. As long as the casino is licensed, those money launderers will just have to go through them with that confidence of not getting caught unless they're asked as they appear and might hold their money if verified they're money launderers.

[fortunecrypto]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

The authorities know all about this that is why the license issuer and AML organizations make sure that these casinos have parameters to prevent these abuses, but casinos can only comply based on the terms and rules given to them by the AML and governing bodies, it's an open secret that scammers are using casinos to wash their money

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

It's not enough they can use dummies as they can pay people to do KYC for them you know we are online and anything and everything can be manipulated, that is why casinos takes a lot of time to verify once accounts to check manipulation and if the person is in the databases of scammers.

So, what do you say, does crypto casinos really care about money laundering?

They should because they are compliant, their license is at stake if they fail to perform their duties.

[Fatunad]

If KYC is for enforcing AML rules, it's certain that the casinos have their own secretive methods of how they direct their suspicions to this behavior (though sometimes they catch the wrong people). And yes casinos care about money laundering cases in any way to keep the company operating.

They would really be abiding laws and regulations as much as they could because if ever there would be some biases or exemptions and they had been caught then it would really be the end of their business.
Considering that casino businesses arent that cheap then it would be understandable that they would really be doing their best not to be affected with those things.
Simply it would really be totally be put up into its customers which i could say that money laundering laws is really just typical not only on gambling busineses
but also into other industries or businesses as well.

[Gozie51]

Some casinos don't mind checking their gambler's source of funds as long as they're earning.

This is by running a kyc and that is the purpose of knowing about the customer. Money laundering may not be checkmated directly by Kyc but it will only ensure that the customer does some legit business that is not laundering of money. It is to show that dubious monies are not  circulated through the casino.

[btc78]

Some casinos don't mind checking their gambler's source of funds as long as they're earning.

This is by running a kyc and that is the purpose of knowing about the customer. Money laundering may not be checkmated directly by Kyc but it will only ensure that the customer does some legit business that is not laundering of money. It is to show that dubious monies are not  circulated through the casino.

actually the main essence of this point? is that casino(not  all of course)  are only caring about the flow in terms of depositing , they only wanted the players to deposit , Play and lose in which will favor them and when the said player wanted to Withdraw either after winning or at least wanted to take their funds out? then this time KYC will appear and the player will suddenly have trouble taking His money out of that casino and this is what this kind of business runs now.

[Wexnident]

But with the existence of KYC, it can provide sufficient information for gambling places to be able to know that the person has money not from money laundering, but this all depends on the policy of the gambling place.

I don't think KYC is enough to give that much information. Pretty sure that's like asking for more information than regular KYC and I don't think users would accommodate to that, they'd probably rather go to other casinos with lenient requirements.

~

Not gonna happen TBH. This will going to shoo away their customers and potential customers. Most people in the gambling scene doesn't want their identity nor any of their backgrounds to be exposed, let alone checked as part of the KYC.
I we all noticed, with the recent implementations of the KYC, a lot of gamblers complain about these. One thing we don't like about is when we're background  checked financially.

Agree. Putting aside the issue of users not wanting that to happen, there's also the issue that it's probably going to be way too much work for the casino to actually identify whether the reported source of income is legit or not. As I said before, casinos are businesses in the end, they'd still want to minimize the amount of money they spend on other parts of their business that don't straight up generate money.

[alegotardo]

So, what do you say, does crypto casinos really care about money laundering?

It depends on the country where the casino is based, some have stricter rules to the point where they only accept cryptos that are not privacy focused, in addition to requiring KYC. Others are more liberal, don't ask for KYC even when making large withdrawals, and even accept privacy-focused deposits and payments in cryptocurrencies.

I believe that crypto casinos shouldn't worry about this, but they often need to comply with the laws of the countries they operate in order to continue operating.

[Don Pedro Dinero]

So, what do you say, does crypto casinos really care about money laundering?

It depends on the country where the casino is based, some have stricter rules to the point where they only accept cryptos that are not privacy focused, in addition to requiring KYC. Others are more liberal, don't ask for KYC even when making large withdrawals, and even accept privacy-focused deposits and payments in cryptocurrencies.

I believe that crypto casinos shouldn't worry about this, but they often need to comply with the laws of the countries they operate in order to continue operating.

What is happening is that more and more casinos are asking for KYC, especially above certain thresholds. Many don't ask for KYC if you deposit $50, get lucky and win $500 and withdraw it. But for higher levels of money they do. It is unlikely that very low amounts are used for money laundering and if they are, it would take a long time, so not worth it in most cases. With higher amounts it is more likely and that is why they start asking for KYC above a certain amount.

[uneng]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

Casinos are businesses like any other. I believe to investigate is a task for the police and other responsible authorities. Casinos can only provide required informations (KYC) to help the investigation reach further faster. I don't know if casinos are concerned about this issue and I don't blame them if they aren't, because actually it's none of their business.

Criminals are constantly using stolen money to buy things, like houses, vehicles, pay for expensive meals and trips and people aren't going after all those services demanding they investigate the source of the money used by their customers, so I think with casinos it shouldn't be different.

On the other hand, if a casino is acting in collusion with scammers it's another story and all of them have to face the consequences...

[pakhitheboss]

Certainly there might be some casinos that are involved in money laundering but not all. Almost all crypto casinos are now strictly adhering to the KYC norms. Such regulations would make it impossible for a money laundering to happen. I still think a lot more needs to be done. The crypto casino industry is still very young when compared to online casinos.

[rodskee]

So, what do you say, does crypto casinos really care about money laundering?

It depends on the country where the casino is based, some have stricter rules to the point where they only accept cryptos that are not privacy focused, in addition to requiring KYC. Others are more liberal, don't ask for KYC even when making large withdrawals, and even accept privacy-focused deposits and payments in cryptocurrencies.

I believe that crypto casinos shouldn't worry about this, but they often need to comply with the laws of the countries they operate in order to continue operating.

What is happening is that more and more casinos are asking for KYC, especially above certain thresholds. Many don't ask for KYC if you deposit $50, get lucky and win $500 and withdraw it. But for higher levels of money they do. It is unlikely that very low amounts are used for money laundering and if they are, it would take a long time, so not worth it in most cases. With higher amounts it is more likely and that is why they start asking for KYC above a certain amount.

Let us all accept the fact that if we really wanted to gamble in legit way then best to do it with legit site or more trusted , i am not saying that it is legit when a site ask for KYC but at least it is more simpler to understand that they are truly  willing to provide better service and costumer satisfaction ,
have seen KYC asking casino and yes they are something that worth trusted .
but we have all differences in checking and believing site so lets stick for that belief and understanding.

[dothebeats]

The money that the gambler uses to play on a casino is out of the casino's business. Even if something suspicious is happening on the account of the gambler, the source of funds IMO should not be questioned. They are not a law enforcement entity nor do they have any authority to ask gamblers where their money came from. If anything it should be the law enforcement that chases after these money launderers, and they can seek help from casinos with what information they store for the user that the police are looking for.

Basically, that's true and the casino won't mind where their customers are getting funds as they're a business in that form. If there's something to be investigated then they have to let it through a government agency that focuses on it. But these days, due to KYC and other types of verifications, it seems that they're sharing a burden now which is a task of the government. As long as the casino is licensed, those money launderers will just have to go through them with that confidence of not getting caught unless they're asked as they appear and might hold their money if verified they're money launderers.

Casinos can't hold your money because you're a suspected money launderer. They'd be more than happy to cater your business with them because you have the potential to bring in some big bucks on to the platform. They cannot actively tip off the police that someone deposited a very large amount on the casino because that is bad for their business. For most casinos, they'd only throw you in the bus if they are being questioned, or are asked by the police to give out some details. KYC might help catching these money launderers but casinos aren't proactive in helping that happen.

[Rufsilf]

Certainly there might be some casinos that are involved in money laundering but not all. Almost all crypto casinos are now strictly adhering to the KYC norms. Such regulations would make it impossible for a money laundering to happen. I still think a lot more needs to be done. The crypto casino industry is still very young when compared to online casinos.

Money launderers will take the best option if they can and the use of casinos has no way to escape even though they will strictly be implemented KYC and everyone can make a denial of where the money comes from and nobody will suspect you if you have a business.
I'd see no chance to eliminate money laundering as these people will find another way. You can just notice that someday casinos are one of the major contributors to this criminal activity.

[karabiber]

I think kyc should not exist for crypto casinos. Everything is already registered on the blockchain. It doesn't matter who does what. The methods of combating black money need to be different. It is important that the money is detected illegally. Because no casino would say no to large sums of money. This is how casinos make money. Your trace is clear in crypto but your identity is not. It is necessary to destroy the source of the fight against illegal money.

[Boristhecat]

To be honest casino will not able to determine where the money came from. that's unlike exchange site but in my opinion if i do believe of mostly of money that came from the crime were always going to the mixer rather than casino. I meant this needs more analyzation.
In my opinion the platform will not care about that. Sending money to the platform is also a win and lose decision caused by sometime the account can be banned or frozen and then money that already deposited became useless.

I think that the big casinos use the same transaction tracking tools as the exchanges, so you won't be able to deposit from a dirty address or even from a mixer (most likely when you deposit from a mixer you will be asked to go through the KYC and explain the origin of the funds). Therefore, if it is necessary to launder obviously dirty money, casinos are obviously not a good solution for this.

[coin-investor]

I think kyc should not exist for crypto casinos.

If a casino is ok without a license then it can go out without a KYC, KYC is part of the compliance of casinos to authorities they put it there for nothing but they are governed by rules because it is an online business entity that is regulated.  

Everything is already registered on the blockchain. It doesn't matter who does what. The methods of combating black money need to be different.

How can it be different can you use give us ideas on how to battle money laundering without the need for KYC

It is important that the money is detected illegally. Because no casino would say no to large sums of money. This is how casinos make money. Your trace is clear in crypto but your identity is not. It is necessary to destroy the source of the fight against illegal money.

It's not really the money it's the people controlling the money, if they verify that one of their users is a known scammer or has recorded money laundering then they can easily prevent these people from using the casinos to launder their money or confiscate it legally, KYC is something we hate but its also something that will protect us.

[Oceat]

If KYC is for enforcing AML rules, it's certain that the casinos have their own secretive methods of how they direct their suspicions to this behavior (though sometimes they catch the wrong people). And yes casinos care about money laundering cases in any way to keep the company operating.

Only if they were following some certain rules that wouldn't revoke their operating license if proven guilty but it won't likely to happen since they wouldn't risk their license if they let cover some individual. I'm sure casino are down and ready to help the authority unless if they were doing some illegal/unlawful things within their casino but I doubt that would happen. License is very important than helping those unknown people behind the internet which casino doesn't care who they are as long as they profit. KYC nowadays is a thing that most casinos and gamblers should consider since the government are trying to catch money launderer.

[Solosanz]

Certainly there might be some casinos that are involved in money laundering but not all. Almost all crypto casinos are now strictly adhering to the KYC norms. Such regulations would make it impossible for a money laundering to happen. I still think a lot more needs to be done. The crypto casino industry is still very young when compared to online casinos.

Lol if the casinos involved in money laundering, of course the regulations will surely targeted and shutdown the casinos, the owner might go to jail.

Honestly I don't think there's a money launder will use a KYC casino to launder his dirty money, because there's a high chance his funds will be flagged and he have no way to withdraw his money. He must have enough privacy knowledge, so he will choose a coin or mixer in order to hide the origin funds.

[virasisog]

Certainly there might be some casinos that are involved in money laundering but not all. Almost all crypto casinos are now strictly adhering to the KYC norms. Such regulations would make it impossible for a money laundering to happen. I still think a lot more needs to be done. The crypto casino industry is still very young when compared to online casinos.

Lol if the casinos involved in money laundering, of course the regulations will surely targeted and shutdown the casinos, the owner might go to jail.

Honestly I don't think there's a money launder will use a KYC casino to launder his dirty money, because there's a high chance his funds will be flagged and he has no way to withdraw his money. He must have enough privacy knowledge, so he will choose a coin or mixer to hide the origin funds.

Money launderers are wise enough not to choose casinos that require KYC. They prefer to keep their identities safe and private. Also, the source of fund doesn't really matter to some casino sites. They wouldn't mind checking on it one by one. Money launderers will also do everything so the authorities won't track their funds. They are even wiser now.

[madnessteat]

Certainly there might be some casinos that are involved in money laundering but not all. Almost all crypto casinos are now strictly adhering to the KYC norms. Such regulations would make it impossible for a money laundering to happen. I still think a lot more needs to be done. The crypto casino industry is still very young when compared to online casinos.

Lol if the casinos involved in money laundering, of course the regulations will surely targeted and shutdown the casinos, the owner might go to jail.

Honestly I don't think there's a money launder will use a KYC casino to launder his dirty money, because there's a high chance his funds will be flagged and he have no way to withdraw his money. He must have enough privacy knowledge, so he will choose a coin or mixer in order to hide the origin funds.

Regulators have had a lot of questions about mixers lately and as we know from the tornado.cash story, flagged funds are blocked by many other platforms that have to comply with the regulators.

I read that big casinos are used to mix funds but it has to be done carefully and check the reputation of the casino carefully.

[Apocollapse]

Money launderers are wise enough not to choose casinos that require KYC. They prefer to keep their identities safe and private. Also, the source of fund doesn't really matter to some casino sites. They wouldn't mind checking on it one by one. Money launderers will also do everything so the authorities won't track their funds. They are even wiser now.

Although I know there's few trusted no KYC casino in this forum and they don't have any rules about money laundering, VPN usage etc, but I still hard to believe if they're not care anything about high illicit sources. As we know Tonardo.cash already got shutdown and they're a centralized mixer, there's a chance the no KYC casino might got shutdown too since they're helping fraudster. That's why I don't think they will take easy against fraudsters.

[ralle14]

Money launderers are wise enough not to choose casinos that require KYC. They prefer to keep their identities safe and private. Also, the source of fund doesn't really matter to some casino sites. They wouldn't mind checking on it one by one. Money launderers will also do everything so the authorities won't track their funds. They are even wiser now.

I agree, there are still casinos that don't require KYC but it could only be used up to a certain point since some casinos only allow it for gamblers that play with a small bankroll. Casinos that ask for the source of funds usually have KYC since that's one of the things they could include in the requirements.

I think kyc should not exist for crypto casinos.

That is how it used to be on most crypto casinos back then but now it's inevitable for some of the big casinos since not having KYC could potentially put them at risk and hinder their operation.

[Doell]

Honestly I'm not a team that works among the gambling industry but considering that casinos have a rules, maybe if there are new users and deposit big funds at one of the trusted sites, it will require KYC. Same with anticipating money laundering, where does the source of funds come from and we also have open sources to trace. But considering there are many casino non KYC and there are many crypto which is able to anonymize the owner too, so it will be difficult to find one.

[Fortify]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

You'd be surprised at the level which the biggest crypto casinos operate. They go extensive lengths and do Blockchain analysis on all funds that pass through their systems for exactly this reason and be able to determine patterns that may indicate all sorts of criminal behavior. In some ways that is the biggest benefit of the Blockchain technology and once these gambling sites reach a certain peak they end up establishing a headquarters in a legal jurisdiction which will certainly take action against such crimes if found.

[Webetcoins]

I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Same thing to what I see before. There's this one player who came in the chat and tells everyone that he is a hacker. I think this is somewhat believable since I always saw his name in the daily wagering contest. It can be their way to clean the money that they get from their illegal activities but on top of this is that they can also get lucky and earn more profit.

KYC in casinos are already there even before the issue in money laundering became rampant. It was required for a different reason though it still helps. Other than this, some casinos now have enforced a rule like you need to wager your deposits before you can withdraw it asap. Same goes if you will tip someone else.

[livingfree]

Honestly I'm not a team that works among the gambling industry but considering that casinos have a rules, maybe if there are new users and deposit big funds at one of the trusted sites, it will require KYC.

That's how it will go. If a casino is telling that there's no required KYC but a user suddenly deposits a huge amount, it's really going to happen that they'll ask for KYC because it's part of their rules.

Same with anticipating money laundering, where does the source of funds come from and we also have open sources to trace. But considering there are many casino non KYC and there are many crypto which is able to anonymize the owner too, so it will be difficult to find one.

I'm confused on this. Casinos shouldn't be problematic with the source of funds and they're only verifying the identity of the people so that they'll have it on record for them to send it to their government that required them to do.

That's only a compliance but most likely, they shouldn't really care at all and that's why they're known to be used like this illegally.

[KTChampions]

In principle, I don’t see anything wrong with this, because if the police couldn’t catch the criminal while committing a crime, then there’s nothing to be done, and if he pays taxes, then that’s good.

Imagine if someone stole your car and then the next day showed up on the car market selling it. The police would be like, "Well, we could not catch him while he was stealing your car, and now he is free to sell it at the market." That cannot be right, because legally speaking, you are still the rightful owner of that car.

The same principle applies to money, because money obtained illegally belongs to the original owner(s) and not to criminals.

Your analogy is wrong. When the swindler took possession of the money, there is no longer a choice to catch him or not (if there is, of course, he must be caught), but there is a choice - to pay taxes on this money or not. If he at least pays taxes, it will be better than if he doesn't. What do you think? Or do you live in an ideal world where this simply cannot be because all the scammers are caught?

[Bobrox]

That's how it will go. If a casino is telling that there's no required KYC but a user suddenly deposits a huge amount, it's really going to happen that they'll ask for KYC because it's part of their rules.

All casino site not problem with huge deposit amount and not really prefer pass KYC but actually needed when withdrawing with huge amount need to submit KYC.

I'm confused on this. Casinos shouldn't be problematic with the source of funds and they're only verifying the identity of the people so that they'll have it on record for them to send it to their government that required them to do.
That's only a compliance but most likely, they shouldn't really care at all and that's why they're known to be used like this illegally.

I worried if this cases happened when huge deposit amount and casino gambling site not hidden with costumer privacy by publishing to government, I think find with casino gambling without have submit KYC and problem faced right now with casino is the place for money laundering is not fault. I saw government officials in my country make casino gambling as place for saving their money and try how laundering without detected about money transfer.

[acroman08]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

would you mind sharing the high rollers that scammed someone and used it to gamble?

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

you are asking people to share to the gambling site where the money actually came from? which I think is a huge privacy risk. I think no one will be comfortable sharing where their money came from to a gambling site.

So, what do you say, does crypto casinos really care about money laundering?

No, it is all business to them, if the gambler provided the necessary documents proving that they are actually who they say they are, it is all good for them(at least that is what I think).

[BitcoinPanther]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

would you mind sharing the high rollers that scammed someone and used it to gamble?

I believe this is a possibility.  There are news about these on the internet.  You can browse this site : https://www.gamblingnews.com/news/tag/crime

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

you are asking people to share to the gambling site where the money actually came from? which I think is a huge privacy risk. I think no one will be comfortable sharing where their money came from to a gambling site.

If you happen to be withdrawing a huge amount of money and then the casino suspended it and ask for KYC including proof of fund, you might probably forced to give the details on where your funds coming from.  I think this one depends on how huge is the money on risk.

So, what do you say, does crypto casinos really care about money laundering?

No, it is all business to them, if the gambler provided the necessary documents proving that they are actually who they say they are, it is all good for them(at least that is what I think).

We have the same thought.  I also think crypto casino really doesn't care where the money is coming from except if they are forced to investigate by an unexpected event.

[Lanatsa]

I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Same thing to what I see before. There's this one player who came in the chat and tells everyone that he is a hacker. I think this is somewhat believable since I always saw his name in the daily wagering contest. It can be their way to clean the money that they get from their illegal activities but on top of this is that they can also get lucky and earn more profit.

KYC in casinos are already there even before the issue in money laundering became rampant. It was required for a different reason though it still helps. Other than this, some casinos now have enforced a rule like you need to wager your deposits before you can withdraw it asap. Same goes if you will tip someone else.

Its odd that a hacker would really go to chatbox and tell that he's a hacker which to consider that whenever someone do make out  some report then it would automatically hold up the withdrawal or block the account directly which would cause for those money or funds to be locked too plus they would be automatically be patching up the system if ever there are some exploits or hacks happen.
So i dont really believe that there's one who would really be saying things about on what he has done.

KYC had been applied due to this money laundering and it is the main reason on why we do have these verification on the first place.Even on our physical banks which these informations
are really that needed.

[coolcoinz]

High rollers who have a lot of money to launder also have enough money to buy a verified account or pay some random dude to make an account in their name and give it to them. I don't think that KYC changes things for the better here. It makes life of average people like us here harder, but it doesn't do anything to those who have millions coming from a scam to launder.
Do casinos want to make money? Sure they do, but most will not risk their license if the player becomes too suspicious.

[Baofeng]

KYC and then you have to bet at least 1x on the amount you deposit, but yeah I do agree that it is not enough to stop someone to mix their tainted cryptos to any casinos. So there is a grey area here, maybe casino's are flag when they see huge deposits coming in, just like in a land base casino, when certain whales comes in play, he got the attention of the manager. And I will speculate though that there could be individuals who get away with it, using casinos, hasn't raise anything and then simply play that wager requirement and then win or lost, withdraw their money. So it will be on the casino's to really be on alert on anything that is suspicious.

[ultrloa]

KYC and then you have to bet at least 1x on the amount you deposit, but yeah I do agree that it is not enough to stop someone to mix their tainted cryptos to any casinos. So there is a grey area here, maybe casino's are flag when they see huge deposits coming in, just like in a land base casino, when certain whales comes in play, he got the attention of the manager. And I will speculate though that there could be individuals who get away with it, using casinos, hasn't raise anything and then simply play that wager requirement and then win or lost, withdraw their money. So it will be on the casino's to really be on alert on anything that is suspicious.

Yeah it somehow not enough, but actually its helpful since people who do illegal actions will get identify if legal authorities start to track the criminals who do such activities. Its added layer of protection against this and for sure the casino also will get alerted if large amount of money has been withdraw frequently on short time span.

[Saisher]

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

KYS is really not enough to stop money laundering but they are doing their part as a company that is compliant with rules and policies laid out by the authorities, it's not their job to investigate their players, they are casinos where people are depositing money to get entertained and hopefully to make money, they are not online banks, its the job of the authorities to investigate go after these money launderers and scammers, casinos care and has a mechanism to stop money laundering but they can only do so much.

[rhomelmabini]

Do casinos want to make money? Sure they do, but most will not risk their license if the player becomes too suspicious.

Of course they do but is it really a thing for an unlicensed casino to be the safe haven from these money launderers? Is there a top and reputed casino out there that hasn't yet have a license, and if there is then how can they still operate? I often wonder about this stuffs.

[Stalker22]

Your analogy is wrong. When the swindler took possession of the money, there is no longer a choice to catch him or not (if there is, of course, he must be caught), but there is a choice - to pay taxes on this money or not. If he at least pays taxes, it will be better than if he doesn't.

No. I used an analogy to illustrate how the legal system treats money obtained illegally. No matter where you live, I do not believe there are too many differences in this regard. I suggest you do your research or ask some legal counsel if you want to know more. Basically, money associated with illegal activities cannot be used legaly, which is why money laundering has become a profitable activity and anti-money laundering laws have been introduced into the legal system of almost every country in the world. Paying taxes has absolutely nothing to do with this and is not even part of the same legal act.
 

What do you think? Or do you live in an ideal world where this simply cannot be because all the scammers are caught?

I am not talking about the perfect world, but about the legal system that every country governed by law has. Of course, no legal system is perfect, and there are many corrupt politicians and government officials who allow crime to go undetected and unpunished, but that is not the point.

[crzy]

Do casinos want to make money? Sure they do, but most will not risk their license if the player becomes too suspicious.

Of course they do but is it really a thing for an unlicensed casino to be the safe haven from these money launderers? Is there a top and reputed casino out there that hasn't yet have a license, and if there is then how can they still operate? I often wonder about this stuffs.

Having your license is one your edge here in crypto gambling so most probably, many have their own license and that could be the reason why they are implementing KYC to strictly monitor money laundering. Decentralized gambling site are more prone to this but of course, if you are a gambling you won’t play on that kind of site where you can’t see any security. This is the job of the site to protect the platform from any money laundering, KYC can still be a big help.

[kamvreto]

Do casinos want to make money? Sure they do, but most will not risk their license if the player becomes too suspicious.

Of course they do but is it really a thing for an unlicensed casino to be the safe haven from these money launderers? Is there a top and reputed casino out there that hasn't yet have a license, and if there is then how can they still operate? I often wonder about this stuffs.

Having your license is one your edge here in crypto gambling so most probably, many have their own license and that could be the reason why they are implementing KYC to strictly monitor money laundering. Decentralized gambling site are more prone to this but of course, if you are a gambling you won’t play on that kind of site where you can’t see any security. This is the job of the site to protect the platform from any money laundering, KYC can still be a big help.

the implementation of KYC may be a little help to overcome money laundering crimes, but for criminals who do have more flight hours and KYC professionals can be manipulated using fake identities. Those who do money laundering on online gambling sites are very skilled at eliminating their tracks, usually some of the funds will be divided into several online gambling sites. Law enforcement will start tracking the flow of funds in and out.
Owners of professional online gambling site platforms do have to implement a better system so as to avoid laundering and which will also harm them.

[Quidat]

Do casinos want to make money? Sure they do, but most will not risk their license if the player becomes too suspicious.

Of course they do but is it really a thing for an unlicensed casino to be the safe haven from these money launderers? Is there a top and reputed casino out there that hasn't yet have a license, and if there is then how can they still operate? I often wonder about this stuffs.

Having your license is one your edge here in crypto gambling so most probably, many have their own license and that could be the reason why they are implementing KYC to strictly monitor money laundering. Decentralized gambling site are more prone to this but of course, if you are a gambling you won’t play on that kind of site where you can’t see any security. This is the job of the site to protect the platform from any money laundering, KYC can still be a big help.

the implementation of KYC may be a little help to overcome money laundering crimes, but for criminals who do have more flight hours and KYC professionals can be manipulated using fake identities. Those who do money laundering on online gambling sites are very skilled at eliminating their tracks, usually some of the funds will be divided into several online gambling sites. Law enforcement will start tracking the flow of funds in and out.
Owners of professional online gambling site platforms do have to implement a better system so as to avoid laundering and which will also harm them.

There are people who could bypass and there are ones who would be caught and it would be depending on how strict a certain platform is on detecting out to those who are tending to launder money.
Its never been something new to have this kind of set up considering that these business or places are the most common ones where those people could able to wash up those dirty money.
Trying out to detect or trace up those funds would be always a challenge for any platforms out there but since security is really just that common then its up to them on what
are the steps that they would be requiring.

[dothebeats]

I think kyc should not exist for crypto casinos. Everything is already registered on the blockchain. It doesn't matter who does what. The methods of combating black money need to be different. It is important that the money is detected illegally. Because no casino would say no to large sums of money. This is how casinos make money. Your trace is clear in crypto but your identity is not. It is necessary to destroy the source of the fight against illegal money.

Good luck with that. I get what you're saying, but crypto casinos need to be compliant to the laws and regulations where they provide service, otherwise the country can just shut the doors and leave the casino with no customers at all. While casinos are compliant with KYC regulations, I don't think they are proactive with AML regulations, the one that is crucial in preventing money laundering schemes. They will most certainly cooperate only if the authorities requested to do so, and has the legal document to command the casino to comply, otherwise it's business as usual.

[serjent05]

the implementation of KYC may be a little help to overcome money laundering crimes, but for criminals who do have more flight hours and KYC professionals can be manipulated using fake identities. Those who do money laundering on online gambling sites are very skilled at eliminating their tracks, usually some of the funds will be divided into several online gambling sites. Law enforcement will start tracking the flow of funds in and out.
Owners of professional online gambling site platforms do have to implement a better system so as to avoid laundering and which will also harm them.

Indeed, since KYC involves fund or bankroll history.  So basically if the casino investigated an account thoroughly, they might found out gaps and holes that can be used to sanction accounts.  Asking for fund sources is one of the key factors of KYC.  A laundered money will find it hard to produce a  perfect document to prove the legality of the fund unless these people have powerful allies/connections in the authority or financial industry.

[livingfree]

That's how it will go. If a casino is telling that there's no required KYC but a user suddenly deposits a huge amount, it's really going to happen that they'll ask for KYC because it's part of their rules.

All casino site not problem with huge deposit amount and not really prefer pass KYC but actually needed when withdrawing with huge amount need to submit KYC.

They have no problems with it but they're being asked to do it to be compliant to the local regulations for them to keep their operations, that's how it should be and they're just implementing it and passing it on to their customers.

I'm confused on this. Casinos shouldn't be problematic with the source of funds and they're only verifying the identity of the people so that they'll have it on record for them to send it to their government that required them to do.
That's only a compliance but most likely, they shouldn't really care at all and that's why they're known to be used like this illegally.

I worried if this cases happened when huge deposit amount and casino gambling site not hidden with costumer privacy by publishing to government, I think find with casino gambling without have submit KYC and problem faced right now with casino is the place for money laundering is not fault. I saw government officials in my country make casino gambling as place for saving their money and try how laundering without detected about money transfer.

Almost all of them are asking nowadays.

If you can find one then that's good and stay with them. But there are also casinos that even they ask you to do so, they're giving you the experience that you'll want to stay with them.

[kawetsriyanto]

Crypto casinos definitely care about Money Laundering as they are also casinos and are subject to enforce AML & KYC regulations to avoid penalties that can cripple their business. They may not make it too strict so as not to scare away some customers who may be wondering the importance of these details, but they must show a level of compliance to prevent being shut down by the people in charge of ensuring that AML & KYC RULES are enforced.

I doubt if every Casino really cares about money laundering, applying KYC or AML doesn't mean fighting for money laundering. They do this to ensure everyone who comes to the Casinos is the person who fulfills the requirements. For example, someone should be 18+ and not comes from restricted countries. Regarding avoiding money laundering, it surely depends on the Casino itself whether they really have a program to fight this or it is just a side impact on KYC/AML procedure. CMIIW

[Zlantann]

I believe that crypto casinos shouldn't worry about this, but they often need to comply with the laws of the countries they operate in order to continue operating.

Money laundering is one of the crimes that have given the crypto space a bad image. But enforcing KYC rules might be very counter productive to the income and operations of these casinos. This is because there are people that have genuine reasons for choosing to protect their privacy or remain anonymous. Cultural, religious or societal factors can be genuine reason why someone might want to be unknown and not necessarily because of crime. Such persons would avoid casinos because of this policy. KYC policy can also give rise to illegal casinos that would take loopholes of the challenges of this policies. The best way to prevent money laundering is to block or stop the source of the money that would be laundered. 

[len01]

So, what do you say, does crypto casinos really care about money laundering?

gambling companies create platforms as a place to play gambling not to find out where the money comes from and they don't care where the money comes from, the most important thing is their platform has done the best of KYC and platform security from data theft.
and actually things like that are not one of the responsibilities of gambling companies but there are already investigating such as the police who may later ask the gambling company for help to provide some data on people who have high stakes from certain countries.
so in conclusion the gambling company has no time for that kind of thing

[darkangel11]

I feel like most casinos care about making money the safe way. They want high rollers but they also want to look legit in the way that they did everything they could to prevent laundering. The best thing they can get is a scammer launderer that is good and has all the fake documents they can ask for. They don't really care where the money comes from as long as their hands are clean and they can defend in court if it comes to that. 

[n0ne]

Crypto casinos definitely care about Money Laundering as they are also casinos and are subject to enforce AML & KYC regulations to avoid penalties that can cripple their business. They may not make it too strict so as not to scare away some customers who may be wondering the importance of these details, but they must show a level of compliance to prevent being shut down by the people in charge of ensuring that AML & KYC RULES are enforced.

I doubt if every Casino really cares about money laundering, applying KYC or AML doesn't mean fighting for money laundering. They do this to ensure everyone who comes to the Casinos is the person who fulfills the requirements. For example, someone should be 18+ and not comes from restricted countries. Regarding avoiding money laundering, it surely depends on the Casino itself whether they really have a program to fight this or it is just a side impact on KYC/AML procedure. CMIIW

I don't know how they will be able to fight against the money laundering. If gambling companies start focusing on KYC/AML procedure surely it is gonna lose a big number of its users. So, they never take these into consideration until the money laundering is affecting their business.

[rhomelmabini]

Do casinos want to make money? Sure they do, but most will not risk their license if the player becomes too suspicious.

Of course they do but is it really a thing for an unlicensed casino to be the safe haven from these money launderers? Is there a top and reputed casino out there that hasn't yet have a license, and if there is then how can they still operate? I often wonder about this stuffs.

Having your license is one your edge here in crypto gambling so most probably, many have their own license and that could be the reason why they are implementing KYC to strictly monitor money laundering. Decentralized gambling site are more prone to this but of course, if you are a gambling you won’t play on that kind of site where you can’t see any security. This is the job of the site to protect the platform from any money laundering, KYC can still be a big help.

I think decentralized casino is more trusted if they are audited by best audit firm in the space like Certik or something else similar to them. Decentralized gambling is the future just like what we've seen on Uniswap, we've never heard of it before when it boom but right now it's being used internationally with millions of users and billions of liquidity. If casino won't recognize it's a laundered money then they'll just keep making on it too, what if they're just layering the money on some actors in the casino?

[EarnOnVictor]

There is no way one can separate the casino and money laundering, not even the KYC tactics, they are doing that for doing sake, most casinos are not dully registered, so they can do their shit. Money laundering through casinos would always thrive because for financial institutions to have been involved in money laundering in the past, casino issues should not be surprising.

In case you don't know, some casinos work with cartels in the pretence that they win so that they will use the opportunity to launder money for the. A lot is happening in the sane world, not to talk of the casino world that is not sane. It all has to do with the integrity of the casino you are playing with.

[michellee]

I don't know how they will be able to fight against the money laundering. If gambling companies start focusing on KYC/AML procedure surely it is gonna lose a big number of its users. So, they never take these into consideration until the money laundering is affecting their business.

Every casino will have its own way of fighting money laundering if they really want to fight it. Yes, maybe complete KYC can be one way to find out in addition to other ways so that nowadays, many casinos have started implementing it for their members.

If the casino decides to go one way or the other, it will surely get rejected by its members. But if the casino can explain that this is not what they want but to keep their business from being disrupted or getting in trouble for something illegal, maybe its members will understand and comply. And those who disagree will look for another casino. Everything will have its own consequences and the casino knows that.

[kamvreto]

the implementation of KYC may be a little help to overcome money laundering crimes, but for criminals who do have more flight hours and KYC professionals can be manipulated using fake identities. Those who do money laundering on online gambling sites are very skilled at eliminating their tracks, usually some of the funds will be divided into several online gambling sites. Law enforcement will start tracking the flow of funds in and out.
Owners of professional online gambling site platforms do have to implement a better system so as to avoid laundering and which will also harm them.

Indeed, since KYC involves fund or bankroll history.  So basically if the casino investigated an account thoroughly, they might found out gaps and holes that can be used to sanction accounts.  Asking for fund sources is one of the key factors of KYC.  A laundered money will find it hard to produce a  perfect document to prove the legality of the fund unless these people have powerful allies/connections in the authority or financial industry.

and in the end the casino platform policy becomes the main policy that will stop the money laundering. this is also useful for police officers to be able to further investigate where the money went and police officers will also have special access to check all transactions on accounts suspected of money laundering. but if those crooks had paid the platform to keep their mouth shut and delete or falsify all the documents, maybe they would get away with it. But it's very rare to do.

[Bobrox]

Every casino will have its own way of fighting money laundering if they really want to fight it. Yes, maybe complete KYC can be one way to find out in addition to other ways so that nowadays, many casinos have started implementing it for their members.

If the casino decides to go one way or the other, it will surely get rejected by its members. But if the casino can explain that this is not what they want but to keep their business from being disrupted or getting in trouble for something illegal, maybe its members will understand and comply. And those who disagree will look for another casino. Everything will have its own consequences and the casino knows that.

Each casino gambling site can adapting with  KYC procedure if want fighting with money laundering, but I am little worry when adapting with KYC for all member they not interested for playing on casino have priority with KYC process, I think money laundering not only happen with crypto casino but also many site have chance and ability how laundering money. The same claimed with cryptocurrency is the best way for money laundering but I think fiat have chance with money laundering too.

Some countries illegal with casino website and access trough hidden IP, when adapting with KYC procedure to take risk from money laundering I think have bigger impact with casino website quiet, some gambler hidden document and real data when active on casino gambling exactly with cryptocurrency casino, but if allowed to pass KYC they will left and looking for other casino support without have submit KYC.

[KTChampions]

Your analogy is wrong. When the swindler took possession of the money, there is no longer a choice to catch him or not (if there is, of course, he must be caught), but there is a choice - to pay taxes on this money or not. If he at least pays taxes, it will be better than if he doesn't.

No. I used an analogy to illustrate how the legal system treats money obtained illegally. No matter where you live, I do not believe there are too many differences in this regard. I suggest you do your research or ask some legal counsel if you want to know more. Basically, money associated with illegal activities cannot be used legaly, which is why money laundering has become a profitable activity and anti-money laundering laws have been introduced into the legal system of almost every country in the world. Paying taxes has absolutely nothing to do with this and is not even part of the same legal act.

But if the fraudster is not caught when he did the fraud, then all he has to do is legalize the money, right? What is your suggestion? A specific proposal from the real and not the fictional world? Go back in time and still catch him? In the real world, the scammer will launder money one way or another and pay taxes on it.

What do you think? Or do you live in an ideal world where this simply cannot be because all the scammers are caught?

I am not talking about the perfect world, but about the legal system that every country governed by law has. Of course, no legal system is perfect, and there are many corrupt politicians and government officials who allow crime to go undetected and unpunished, but that is not the point.

So again what is your specific suggestion? The scammer will launder money by simulating receiving income from a business or receiving winnings from a casino. What do you suggest? Prohibit people from paying taxes because this is how money is laundered? Or are you suggesting a ban on money?  Can you say something specific?

[Finestream]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I am not sure we can equate money laundering as the same as scammed money. Both are illegal, sure, but that still does not have anything to do with the other. If you get caught with scammed money then obviously that money will be seized. As far as money laundering goes, it might not be allowed to be seized by the casino unless they recieve an order from the police to seize the laundered money, but you will still get into trouble with the law.

I doubt any online or offline gambling casino, whether crypto based or fiat based, cares about enforcing the law. They do it because they have to. Of course they would rather make more profit and not give any of their players up if they had a choice.

Gambling casinos are here for business and profits so that's the only thing they will care the most. If bettors come with huge funds to bet, regardless if it came from money laundering or not, as long as they passed the KYC and yet no alarm from authorities, then it won't be tracked for sure since gambling casinos are mostly concern for their own profits, and having high rollers to play in them will create more chances for them to gain big profits that time.

[kawetsriyanto]

I don't know how they will be able to fight against the money laundering. If gambling companies start focusing on KYC/AML procedure surely it is gonna lose a big number of its users. So, they never take these into consideration until the money laundering is affecting their business.

Every casino will have its own way of fighting money laundering if they really want to fight it. Yes, maybe complete KYC can be one way to find out in addition to other ways so that nowadays, many casinos have started implementing it for their members.

Yep, if the Casino really has the intention to fight money laundering, they can apply a strict KYC/AML procedure. But surely this way may impact the less interest of people to join the Casino because they probably feel uncomfortable with a strict KYC/AML. Moreover, there are too many online casinos, and many of them seem not to apply a strict KYC/AML. Although there are some casinos starting to apply this way to fight money laundering seriously, some other casinos may not really care about it. Even if they have KYC/AML, it is only for the formality only or to fulfill their own rules only.

[BitcoinPanther]

I doubt if every Casino really cares about money laundering, applying KYC or AML doesn't mean fighting for money laundering. They do this to ensure everyone who comes to the Casinos is the person who fulfills the requirements. For example, someone should be 18+ and not comes from restricted countries. Regarding avoiding money laundering, it surely depends on the Casino itself whether they really have a program to fight this or it is just a side impact on KYC/AML procedure. CMIIW

Indeed casino did KYC to follow the government regulation and to continue their operation smoothly.  KYC implementation is just another expenditure for the Casino since they have to pay for the KYC services that verify the authenticity of documents submitted by players.

Money laundering is one of the crimes that have given the crypto space a bad image. But enforcing KYC rules might be very counter productive to the income and operations of these casinos. This is because there are people that have genuine reasons for choosing to protect their privacy or remain anonymous. Cultural, religious or societal factors can be genuine reason why someone might want to be unknown and not necessarily because of crime. Such persons would avoid casinos because of this policy. KYC policy can also give rise to illegal casinos that would take loopholes of the challenges of this policies. The best way to prevent money laundering is to block or stop the source of the money that would be laundered. 

I think implementing KYC can go both ways, counter productive because it will possibly hinders potential players and productive because it will enable the casino to do their business smoothly.  Between the two, I think implementing KYC is more beneficial to the Casino in terms of continue and smooth operation.

Gambling casinos are here for business and profits so that's the only thing they will care the most. If bettors come with huge funds to bet, regardless if it came from money laundering or not, as long as they passed the KYC and yet no alarm from authorities, then it won't be tracked for sure since gambling casinos are mostly concern for their own profits, and having high rollers to play in them will create more chances for them to gain big profits that time.

Everyone is, everyone cares about their own benefits only, that is why many players are whining about KYC  requirement because it is a hassle for them, without even thinking how hassle it is for the Casino to have problem with authority if they do not implement the needed requirement imposed by the government.

[abel1337]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I am not sure we can equate money laundering as the same as scammed money. Both are illegal, sure, but that still does not have anything to do with the other. If you get caught with scammed money then obviously that money will be seized. As far as money laundering goes, it might not be allowed to be seized by the casino unless they recieve an order from the police to seize the laundered money, but you will still get into trouble with the law.

I doubt any online or offline gambling casino, whether crypto based or fiat based, cares about enforcing the law. They do it because they have to. Of course they would rather make more profit and not give any of their players up if they had a choice.

Gambling casinos are here for business and profits so that's the only thing they will care the most. If bettors come with huge funds to bet, regardless if it came from money laundering or not, as long as they passed the KYC and yet no alarm from authorities, then it won't be tracked for sure since gambling casinos are mostly concern for their own profits, and having high rollers to play in them will create more chances for them to gain big profits that time.

Of course business is business, Casino want to gain profit from you whether the money is dirty or not. If they are being suspicious of you, They can easily flag the account and ask KYC and as long as their reputation won't be affected they won't care that much.

I'm just thinking what might happen if the gambler use dirty money, withdraw it given that the gambler passed KYC and having no standing warrant at that current time. and the casino let the gambler withdraw. Will there be a chance that the casino be caught red handed by the authorities even the gambler withdraw his funds 2 months after?  

[molsewid]

I believe that crypto casinos shouldn't worry about this, but they often need to comply with the laws of the countries they operate in order to continue operating.

Money laundering is one of the crimes that have given the crypto space a bad image. But enforcing KYC rules might be very counter productive to the income and operations of these casinos. This is because there are people that have genuine reasons for choosing to protect their privacy or remain anonymous. Cultural, religious or societal factors can be genuine reason why someone might want to be unknown and not necessarily because of crime. Such persons would avoid casinos because of this policy. KYC policy can also give rise to illegal casinos that would take loopholes of the challenges of this policies. The best way to prevent money laundering is to block or stop the source of the money that would be laundered. 

Indeed , because most of the people in crypto world more prefer to be unknown rather than be known, they don't want to make KYC most of us chooses crypto because we can hide our identity and freely use it to anywhere we wanted to invest with, but with KYC there will be some feeling maybe we can be afraid because that certain establishment can use our identity somewhere most especially if we are to active in gambling.

[Kelvinid]

I believe that crypto casinos shouldn't worry about this, but they often need to comply with the laws of the countries they operate in order to continue operating.

Money laundering is one of the crimes that have given the crypto space a bad image. But enforcing KYC rules might be very counter productive to the income and operations of these casinos. This is because there are people that have genuine reasons for choosing to protect their privacy or remain anonymous. Cultural, religious or societal factors can be genuine reason why someone might want to be unknown and not necessarily because of crime. Such persons would avoid casinos because of this policy. KYC policy can also give rise to illegal casinos that would take loopholes of the challenges of this policies. The best way to prevent money laundering is to block or stop the source of the money that would be laundered. 

Indeed , because most of the people in crypto world more prefer to be unknown rather than be known, they don't want to make KYC most of us chooses crypto because we can hide our identity and freely use it to anywhere we wanted to invest with, but with KYC there will be some feeling maybe we can be afraid because that certain establishment can use our identity somewhere most especially if we are to active in gambling.

Yes, and it was unfortunate that KYC has already been pushed by major exchanges and gambling sites making us closer to no options but to submit our KYC. I'd foresee that sooner or later, KYC is be going to mandatory, especially if crypto becomes legalized in all countries and that was the time to have no other options. But, this will not put an end to money laundering as this will be a long-lasting war that never find yet an effective solution.

[ChiNgadOr]

I feel like most casinos care about making money the safe way. They want high rollers but they also want to look legit in the way that they did everything they could to prevent laundering. The best thing they can get is a scammer launderer that is good and has all the fake documents they can ask for. They don't really care where the money comes from as long as their hands are clean and they can defend in court if it comes to that. 

There are some legal casinos that really cares about money laundering act and they do take normal precautions to make sure that gamblers will not come to there casinos and use funds that are stolen or illegal on there casinos because the government also can come for them if they don't regulate the rate funds flow into the casino.
This is why there is maximum amount we can use to gamble on a casino which is one of the reasons set aside to regulate and make sure that gamblers stick to rules of the casino.
There are so casinos that we never care about money laundering act because they can majorly after inflow of funds to there casinos with checking the risk it might post later to them.

[milewilda]

I believe that crypto casinos shouldn't worry about this, but they often need to comply with the laws of the countries they operate in order to continue operating.

Money laundering is one of the crimes that have given the crypto space a bad image. But enforcing KYC rules might be very counter productive to the income and operations of these casinos. This is because there are people that have genuine reasons for choosing to protect their privacy or remain anonymous. Cultural, religious or societal factors can be genuine reason why someone might want to be unknown and not necessarily because of crime. Such persons would avoid casinos because of this policy. KYC policy can also give rise to illegal casinos that would take loopholes of the challenges of this policies. The best way to prevent money laundering is to block or stop the source of the money that would be laundered. 

Indeed , because most of the people in crypto world more prefer to be unknown rather than be known, they don't want to make KYC most of us chooses crypto because we can hide our identity and freely use it to anywhere we wanted to invest with, but with KYC there will be some feeling maybe we can be afraid because that certain establishment can use our identity somewhere most especially if we are to active in gambling.

But we know that these platforms are regulated even they do know their customers doesnt really like KYC but they dont really have any choice or option since people does always prefer on having that
anonymity.Those people who doesnt really love KYC doesnt automatically means that they are doing money laundering but we cant really deny that this is one of the best way on hiding out yourself
if you do really have those bad intentions or illegal actions which is connected to laundering but not all would really be doing that but cant really be  avoided for it not to be taking advantage on.
Platforms who do operate on legal ways and fair wont really be having no choice but to comply on whats been asked or mandated to them.

[Stalker22]

Your analogy is wrong. When the swindler took possession of the money, there is no longer a choice to catch him or not (if there is, of course, he must be caught), but there is a choice - to pay taxes on this money or not. If he at least pays taxes, it will be better than if he doesn't.

No. I used an analogy to illustrate how the legal system treats money obtained illegally. No matter where you live, I do not believe there are too many differences in this regard. I suggest you do your research or ask some legal counsel if you want to know more. Basically, money associated with illegal activities cannot be used legaly, which is why money laundering has become a profitable activity and anti-money laundering laws have been introduced into the legal system of almost every country in the world. Paying taxes has absolutely nothing to do with this and is not even part of the same legal act.

But if the fraudster is not caught when he did the fraud, then all he has to do is legalize the money, right? What is your suggestion? A specific proposal from the real and not the fictional world? Go back in time and still catch him? In the real world, the scammer will launder money one way or another and pay taxes on it.

But that is not how our legal system works. Look, here are some examples from the real world:

Four Individuals Charged with Conspiring to Launder Money Obtained from Romance Scams
Two Florida Men Charged with Conspiring to Launder Money Obtained from Internet-Enabled Scams
Virginia Man Charged with Conspiring to Launder Money Obtained from Internet-Enabled Romance Scams
Five individuals charged in multi-million dollar money laundering conspiracy

In each case, the suspects were not caught while committing the fraud, but rather after trying to "legalize" the illegally obtained money. That is the whole point of the AML laws.

So again what is your specific suggestion? The scammer will launder money by simulating receiving income from a business or receiving winnings from a casino. What do you suggest? Prohibit people from paying taxes because this is how money is laundered? Or are you suggesting a ban on money?  Can you say something specific?

No suggestions, I just wanted to point out that the following statement of yours is false:

The easiest way to launder money is to make two large bets (or several smaller ones) at different bookmakers on opposite events and go to the tax office with the winning ticket. In principle, I don’t see anything wrong with this, because if the police couldn’t catch the criminal while committing a crime, then there’s nothing to be done, and if he pays taxes, then that’s good.

[Wakate]

I believe that crypto casinos shouldn't worry about this, but they often need to comply with the laws of the countries they operate in order to continue operating.

Money laundering is one of the crimes that have given the crypto space a bad image. But enforcing KYC rules might be very counter productive to the income and operations of these casinos. This is because there are people that have genuine reasons for choosing to protect their privacy or remain anonymous. Cultural, religious or societal factors can be genuine reason why someone might want to be unknown and not necessarily because of crime. Such persons would avoid casinos because of this policy. KYC policy can also give rise to illegal casinos that would take loopholes of the challenges of this policies. The best way to prevent money laundering is to block or stop the source of the money that would be laundered. 

Indeed , because most of the people in crypto world more prefer to be unknown rather than be known, they don't want to make KYC most of us chooses crypto because we can hide our identity and freely use it to anywhere we wanted to invest with, but with KYC there will be some feeling maybe we can be afraid because that certain establishment can use our identity somewhere most especially if we are to active in gambling.

But we know that these platforms are regulated even they do know their customers doesnt really like KYC but they dont really have any choice or option since people does always prefer on having that
anonymity.Those people who doesnt really love KYC doesnt automatically means that they are doing money laundering but we cant really deny that this is one of the best way on hiding out yourself
if you do really have those bad intentions or illegal actions which is connected to laundering but not all would really be doing that but cant really be  avoided for it not to be taking advantage on.
Platforms who do operate on legal ways and fair wont really be having no choice but to comply on whats been asked or mandated to them.

I think many of the casinos I know do have a partial KYC where they will ask for users email, and some info about them which can be for different reasons. Nobody wants there information to be exposed to the world or be in the hands of wrong person which can happen if those casinos that requires KYC from gamblers eventually lost the data to the hands of scammers or those that might use the information illegally or sell it to people that could use it against us.
So many reasons why nobody will like to play or gamble on a KYC casinos because anything can happen and those casinos might get hacked losing vital information.

[Poker Player]

So, what do you say, does crypto casinos really care about money laundering?

I don't think so. Traditionally casinos, and I mean even physical casinos before the Internet existed, have been used to launder money, both by gamblers and casino owners. Let's think about how important the mafia was in the development of Las Vegas, for example.

Today in crypto casinos, I think it could be used more by the players than by the casinos themselves. After all, they usually have licenses from tax havens, where there are very low taxes, so they can declare everything legitimately and paying very little they have their profits legalized.

As to whether they care about money laundering by players or not, I think they do to some extent, because that is why they are introducing more and more KYC procedures. What is not clear to me is that this is as much in the spirit of collaboration with anti-fraud authorities as it is somehow imposed by international AML procedures.

[Sithara007]

This argument of money laundering is just an excuse to compel the online casinos to implement stricter KYC requirements. And it may look harmless on the outside. But KYC can be misused by both state and non-state players. And it will put people like me in trouble. For example here in India, gambling is 100% illegal (except for the state of Goa). What is the guarantee that the Indian authorities will not use KYC information to harass those individuals who participate in gambling? And also, what is the guarantee that KYC documents won't be stolen and used for identity theft?

[Peanutswar]

If becomes too much anonymous it is a cons to the gambling casino too because if someone looks for the record of the activity of the player and there's no level 1 KYC it is hard for them to give information or feedback, that's why most of the time the large amount wagers most likely have a KYC to make sure there's no abuse happens in the game, but it is quite hard if the gambling casino wont allowed the users to make a withdraw to their funds can become a burden to the player instead enjoying the winnings they took too much suffering in the casinos restriction.

[dothebeats]

This argument of money laundering is just an excuse to compel the online casinos to implement stricter KYC requirements. And it may look harmless on the outside. But KYC can be misused by both state and non-state players. And it will put people like me in trouble. For example here in India, gambling is 100% illegal (except for the state of Goa). What is the guarantee that the Indian authorities will not use KYC information to harass those individuals who participate in gambling? And also, what is the guarantee that KYC documents won't be stolen and used for identity theft?

There are absolutely no guarantees, this is why as much as possible, you try to avoid platforms with strict KYC. The problem is, most casinos not implementing strict KYCs are only good for a couple of months before they close, either because they are a scam site or that they are ordered to do so by the government. Mishandling of KYC documents is also a valid reason to raise, and we don't know anything whether our personal information is already being sold to a third-party or remains safe at the hands of the government. Whatever it is, KYC remains to be the necessary thing to follow, but we're too conflicted in actually doing it because of a lot of bad things that is associated with completing the said requirement on most casinos.

[michellee]

--

Each casino gambling site can adapting with  KYC procedure if want fighting with money laundering, but I am little worry when adapting with KYC for all member they not interested for playing on casino have priority with KYC process, I think money laundering not only happen with crypto casino but also many site have chance and ability how laundering money. The same claimed with cryptocurrency is the best way for money laundering but I think fiat have chance with money laundering too.

Some countries illegal with casino website and access trough hidden IP, when adapting with KYC procedure to take risk from money laundering I think have bigger impact with casino website quiet, some gambler hidden document and real data when active on casino gambling exactly with cryptocurrency casino, but if allowed to pass KYC they will left and looking for other casino support without have submit KYC.

Of course, money laundering is bound to happen in many businesses, not just in casinos. But now that crypto casinos are popular, it makes money launderers want to give it a try and I guess they started it a long time ago and were not detected by the casinos or the government. Casinos want to prevent that from happening on their premises and they implement KYC as a precaution. But money launderers are also smart to see loopholes that they can use to continue to launder money.

Those who do money laundering will look for casinos that don't require KYC to help them keep laundering money. And somehow, they can always find a casino that can help them and I think that could be because they have a lot of sources that will tell you that one or two casinos don't need KYC so they can use it.

--

--

Yep, if the Casino really has the intention to fight money laundering, they can apply a strict KYC/AML procedure. But surely this way may impact the less interest of people to join the Casino because they probably feel uncomfortable with a strict KYC/AML. Moreover, there are too many online casinos, and many of them seem not to apply a strict KYC/AML. Although there are some casinos starting to apply this way to fight money laundering seriously, some other casinos may not really care about it. Even if they have KYC/AML, it is only for the formality only or to fulfill their own rules only.

We are still lucky because we have several casinos that do not implement strict KYC/AML so we don't need to verify. Besides, I think if we don't use big money to gamble and never do anything that could make the casino suspicious, we will be safe and well playing in that casino. Maybe the casino will apply the casino randomly and not based on how much money the gambler will use to play gambling and we should be prepared if it applies to us. Maybe we will move to another casino if the casino asks us for KYC because we don't want to do that verification. But some gamblers will be happy to do KYC because they already feel comfortable playing gambling at the casino.

[Docnaster]

This argument of money laundering is just an excuse to compel the online casinos to implement stricter KYC requirements. And it may look harmless on the outside. But KYC can be misused by both state and non-state players. And it will put people like me in trouble. For example here in India, gambling is 100% illegal (except for the state of Goa). What is the guarantee that the Indian authorities will not use KYC information to harass those individuals who participate in gambling? And also, what is the guarantee that KYC documents won't be stolen and used for identity theft?

The argument of kyc because of money laundering doesn't hold water to me personally. Let me come from your angle that gambling is restricted in your country. It is even a greater risk to try and complete KYC with any gambling site. The implications are if you complete kyc, they will eventually understand that you are gambling from a restricted area through the help of VPN or any ip hider. This will make the company to threat you with unfair. If you win big instead of paying you, they may decide to call out the government on you or withhold your winnings at most and you will not have any legal right to act and claim your winning.

There are absolutely no guarantees, this is why as much as possible, you try to avoid platforms with strict KYC. The problem is, most casinos not implementing strict KYCs are only good for a couple of months before they close, either because they are a scam site or that they are ordered to do so by the government. Mishandling of KYC documents is also a valid reason to raise, and we don't know anything whether our personal information is already being sold to a third-party or remains safe at the hands of the government. Whatever it is, KYC remains to be the necessary thing to follow, but we're too conflicted in actually doing it because of a lot of bad things that is associated with completing the said requirement on most casinos.

You are very correct,  when scammers know that people are avoiding kyc, they will use it as a bait to attract people to their scam casino which doesn't last long. When they perfect their plans they will immediately exit the market and return with another domain to continue their scamming. The best practice is to be patient and find a reliable gambling site and stick with them.

Op said that gambling sites should investigate the sources of income of the gamblers. How will that even be possible? Even the kyc won't help because many people complete identity verification with fake or stolen identities.

[$crypto$]

We are still lucky because we have several casinos that do not implement strict KYC/AML so we don't need to verify. Besides, I think if we don't use big money to gamble and never do anything that could make the casino suspicious, we will be safe and well playing in that casino. Maybe the casino will apply the casino randomly and not based on how much money the gambler will use to play gambling and we should be prepared if it applies to us. Maybe we will move to another casino if the casino asks us for KYC because we don't want to do that verification. But some gamblers will be happy to do KYC because they already feel comfortable playing gambling at the casino.

We're still happy with some casinos that don't implement KYC/AML maybe because the money we use is small so this won't be suspicious or investigated by the casino. Whatever we do at the casino makes us smoother in any case it means nothing. suspicion on our account unless other abuse.

Obviously some crypto casino users don't want them to verify documents of course they prefer anonymous ones and we are always looking for those casinos, even though some popular casinos don't implement KYC/AML so we still feel it's quite safe to gamble.

[Wexnident]

~

There are absolutely no guarantees, this is why as much as possible, you try to avoid platforms with strict KYC. The problem is, most casinos not implementing strict KYCs are only good for a couple of months before they close, either because they are a scam site or that they are ordered to do so by the government. Mishandling of KYC documents is also a valid reason to raise, and we don't know anything whether our personal information is already being sold to a third-party or remains safe at the hands of the government. Whatever it is, KYC remains to be the necessary thing to follow, but we're too conflicted in actually doing it because of a lot of bad things that is associated with completing the said requirement on most casinos.

In the end, it all circles down to how casinos (or any company in general) should better the system of KYC, to the point where the risks involved wouldn't really matter (I could say to completely remove it, but we all know that ain't going to happen). There really isn't going to be a fix here imo, or to the point where necessary documents for KYC are so strict that even if it was somehow leaked, no risk would be possible.

We're still happy with some casinos that don't implement KYC/AML maybe because the money we use is small so this won't be suspicious or investigated by the casino. Whatever we do at the casino makes us smoother in any case it means nothing. suspicion on our account unless other abuse.

Naturally, casinos know that implementation of KYC at registration would shy away most of their users, so they simply set it up so that after a certain point, they'd ask it (especially if you consider how most problems arise from people who gamble a lot, which is understandable imo).

[Mauser]

So, what do you say, does crypto casinos really care about money laundering?

I wouldn't say that money laundering is anything special about the crypto casino community. Money laundering has been a part of the gambling industry for a long time. Already in the 1980s criminals used casinos to cash in illegal money and withdraw legit winnings that can be added to their bank accounts. Even today I see sketchy people sitting in front of the slot machines in our billiard bar all night. Slots are one of the best ways for them to launder money because they payout 95-97% of the money being paid in. And nobody can verify later if your winnings results from being lucky one evening, or from playing a long period of time and adding a lot of cash to the machines. I think that casinos are aware of the issues of money laundering and are trying to stop it. It sheds a bad light on the industry and isn't really needed for casinos to make their money. There are so many recreational gamblers that the casinos would be doing fine if there were no more criminals abusing the casino systems. Unfortunately there are no 100% secure ways to prevent money laundering. Even with KYC people can pay others to gamble with their money to attract less suspicion. 

[|MINER|]

I don't think casinos, gambling websites couldn't stop money laundering what they can actually do is with the kyc data it can help when the investigation agency is approached for investigation. However, gambling websites have become one of the biggest part of money laundering by evading the investigators, but I think good reputable casinos require this kyc data to  stop it and I also think it plays a great role in the investigation.

[Reatim]

I don't think casinos, gambling websites couldn't stop money laundering what they can actually do is with the kyc data it can help when the investigation agency is approached for investigation. However, gambling websites have become one of the biggest part of money laundering by evading the investigators, but I think good reputable casinos require this kyc data to  stop it and I also think it plays a great role in the investigation.

you cannot just Imply KYC in crypto gambling because you knew that people here mostly wanted privacy and hates providing KYC when they gamble and also depends in how much are the amount being launder because criminal and syndicate nowadays knows how to use gambling platform as form of laundering .,

[KTChampions]

~
No suggestions, I just wanted to point out that the following statement of yours is false:

The easiest way to launder money is to make two large bets (or several smaller ones) at different bookmakers on opposite events and go to the tax office with the winning ticket. In principle, I don’t see anything wrong with this, because if the police couldn’t catch the criminal while committing a crime, then there’s nothing to be done, and if he pays taxes, then that’s good.

You keep writing nonsense. That the police caught someone trying to launder money still counts as "caught in the act," right? Money laundering is also a crime and in an ideal world they are also preventable. You can answer a simple question for me: if the fraudster is not caught, then which option is better: 1.) he paid taxes on his criminal income. 2.) didn't pay taxes? I continue to consider the first case a lesser evil than the second. What do you think?

[AicecreaME]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Actually, it's not really a win-win for the casino just because they generate profit from it. Because once the authorities find out that they are tolerating such illegal activity from their players, the government will eventually come after them that could cost halting of their operations and eventually, loss of profit. It will cost them so much, that is why there are many casinos that are including rule/s about AMLA and doing of mandatory KYC in their terms of service to make the players aware of what they are planning to sign up for.

They don't want dirty money because handling dirty money could mean trouble. After all, they are still a business that needs a go signal to continually operates. They can't bribe the central organizations most especially the government, do they? Unless of course they have strong connections to the higher ups. But if that's not the case, then they better abide the law to avoid possible chaos.

[Beparanf]

I don't think casinos, gambling websites couldn't stop money laundering what they can actually do is with the kyc data it can help when the investigation agency is approached for investigation. However, gambling websites have become one of the biggest part of money laundering by evading the investigators, but I think good reputable casinos require this kyc data to  stop it and I also think it plays a great role in the investigation.

Yep. They are trying to protect there own business against money laundering that’s why they are collecting data of those suspected user so that they can give it to the authority once they conduct investigation to avoid being accessory to the crime. The casino can actually stop the laundering by freezing the account of the suspected user that doing malicious transactions closed to be categorized as laundering.

[virasisog]

I don't think casinos, gambling websites couldn't stop money laundering what they can actually do is with the kyc data it can help when the investigation agency is approached for investigation. However, gambling websites have become one of the biggest part of money laundering by evading the investigators, but I think good reputable casinos require this kyc data to  stop it and I also think it plays a great role in the investigation.

you cannot just Imply KYC in crypto gambling because you knew that people here mostly wanted privacy and hates providing KYC when they gamble and also depends in how much are the amount being launder because criminal and syndicate nowadays knows how to use gambling platform as form of laundering .,

Money launderers will always prefer casinos that won't ask for KYC so they can't keep their identities when betting. KYC is one of the reasons for authorities to track them as well as their transactions so they will definitely choose not to use sites that would ask for KYC. Criminals could easily keep their laundered money and use it to gamble. There were just unlucky gamblers who got caught through their gambling activities but most criminals nowadays already know what to do.

[madnessteat]

~
No suggestions, I just wanted to point out that the following statement of yours is false:

The easiest way to launder money is to make two large bets (or several smaller ones) at different bookmakers on opposite events and go to the tax office with the winning ticket. In principle, I don’t see anything wrong with this, because if the police couldn’t catch the criminal while committing a crime, then there’s nothing to be done, and if he pays taxes, then that’s good.

You keep writing nonsense. That the police caught someone trying to launder money still counts as "caught in the act," right? Money laundering is also a crime and in an ideal world they are also preventable. You can answer a simple question for me: if the fraudster is not caught, then which option is better: 1.) he paid taxes on his criminal income. 2.) didn't pay taxes? I continue to consider the first case a lesser evil than the second. What do you think?

It seems to me that for the state the first option is more preferable because in this case it receives tax on winnings. But it is not quite clear to me whether it is profitable for the participant of such scheme.

I wonder if in the case of payment of tax on winnings is checked on what means the person played? After all, in the case of verification questions may arise from where the person has such a large amount to play in the casino and whether taxes were paid on this money.

[len01]

I don't think casinos, gambling websites couldn't stop money laundering what they can actually do is with the kyc data it can help when the investigation agency is approached for investigation. However, gambling websites have become one of the biggest part of money laundering by evading the investigators, but I think good reputable casinos require this kyc data to  stop it and I also think it plays a great role in the investigation.

you cannot just Imply KYC in crypto gambling because you knew that people here mostly wanted privacy and hates providing KYC when they gamble and also depends in how much are the amount being launder because criminal and syndicate nowadays knows how to use gambling platform as form of laundering .,

you are right. because the money laundering criminal syndicates are smarter to choose which gambling platform they will choose to hide the money laundering proceeds from.
and for KYC problems, almost 90% of gamblers choose crypto online gambling platforms for several reasons including not wanting anyone to know if they like gambling because there are several countries that prohibit gambling. there are some gambling sites that do not require KYC to gamble and they will prefer gambling platforms like that

[Gozie51]

And also, what is the guarantee that KYC documents won't be stolen and used for identity theft?

This is the fear of most people who don't like playing in kyc casinos because the guarantee is not there who needs the information of the client. It is understandable if this fear continues. In the past I have done a kyc for certain project but it ended up a scam and my information was already with them.

Whatever it is, KYC remains to be the necessary thing to follow, but we're too conflicted in actually doing it because of a lot of bad things that is associated with completing the said requirement on most casinos.

For many Kyc is against the anonymous system of no disclosure of identity to third party.

[michellee]

We are still lucky because we have several casinos that do not implement strict KYC/AML so we don't need to verify. Besides, I think if we don't use big money to gamble and never do anything that could make the casino suspicious, we will be safe and well playing in that casino. Maybe the casino will apply the casino randomly and not based on how much money the gambler will use to play gambling and we should be prepared if it applies to us. Maybe we will move to another casino if the casino asks us for KYC because we don't want to do that verification. But some gamblers will be happy to do KYC because they already feel comfortable playing gambling at the casino.

We're still happy with some casinos that don't implement KYC/AML maybe because the money we use is small so this won't be suspicious or investigated by the casino. Whatever we do at the casino makes us smoother in any case it means nothing. suspicion on our account unless other abuse.

Obviously some crypto casino users don't want them to verify documents of course they prefer anonymous ones and we are always looking for those casinos, even though some popular casinos don't implement KYC/AML so we still feel it's quite safe to gamble.

As long as we only use small money to gamble, I don't think the casino will suspect our account and let us play and maybe withdraw some of our money. And maybe it won't catch their attention or sound their alarm because of a suspicious transaction or other abuse.

And hey, playing at trusted and popular casinos without doing KYC/AML is good. But maybe we can rarely get it again in the future when government regulations already require every casino to implement KYC.

[Invester]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

Are we going to ignore that land based casinos are not even asking for its gamblers KYC? There are some casinos that need an ID before people can enter. But that's it, they don't photocopy the ID for for their copy. Most casinos I entered do not require ID. You can easily enter as long as you don't look like a criminal or beggar.

[decodx]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

I'm not siding with the casinos on this, but that's probably what the regulators and authorities are asking them to do. Similar to how banks ask you for a statement about the source of funds when you want to deposit or withdraw a large sum of money. Only thing that I find unfair about casinos is that they do not ask for this information when making deposits or when registering, but when withdrawing money after winning. So basically, people that move large sums of money into the casino are not being asked to do this, but people that just won a moderate amount of money are.

[_act_]

I'm not siding with the casinos on this, but that's probably what the regulators and authorities are asking them to do. Similar to how banks ask you for a statement about the source of funds when you want to deposit or withdraw a large sum of money. Only thing that I find unfair about casinos is that they do not ask for this information when making deposits or when registering, but when withdrawing money after winning. So basically, people that move large sums of money into the casino are not being asked to do this, but people that just won a moderate amount of money are.

You are not wrong, KYC is necessary, especially on big and well know gambling sites that the regulators can easily know about, regulators have control over the gambling sites, so they (the gamble sites) have to comply and make KYC mandatory on their site.

I hate that about Casinos too, all of them that I have used before do not request for KYC during registion, but they will ask for it during withdrawal, these as been a means many of them are using to seize the fund of gamblers that has already won on their site.

I have preferred to just first complete the KYC first before I start to use the gambling site which I think is better. I have been doing it like this even before I started to use crypto gambling sites and no issue at all because I would have already gotten verified before using the site.

[SirLancelot]

Money launderers are wise enough not to choose casinos that require KYC. They prefer to keep their identities safe and private. Also, the source of fund doesn't really matter to some casino sites. They wouldn't mind checking on it one by one. Money launderers will also do everything so the authorities won't track their funds. They are even wiser now.

Although I know there's few trusted no KYC casino in this forum and they don't have any rules about money laundering, VPN usage etc, but I still hard to believe if they're not care anything about high illicit sources. As we know Tonardo.cash already got shutdown and they're a centralized mixer, there's a chance the no KYC casino might got shutdown too since they're helping fraudster. That's why I don't think they will take easy against fraudsters.

Is there truly a casino like the ones you describe? A no KYC can be normal, that's because we promote decentralization here when we talk about cryptos and blockchain but if they don't care about money launderers then I think that's not normal anymore and maybe they are one of those who launder money? Or they are being given by a share for them to allow the money launderers. While there are some who only cares about their business and they know that if they became too strict, their income can also get lessened.

I don't think authorities will shutdown a service easily but they will first check it if the service is following a protocol to avoid the money launders.

[qwertyup23]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

I'm not siding with the casinos on this, but that's probably what the regulators and authorities are asking them to do. Similar to how banks ask you for a statement about the source of funds when you want to deposit or withdraw a large sum of money. Only thing that I find unfair about casinos is that they do not ask for this information when making deposits or when registering, but when withdrawing money after winning. So basically, people that move large sums of money into the casino are not being asked to do this, but people that just won a moderate amount of money are.

This is somehow a difficult boundary to draw a line with- you are dealing with an online casino who abides with their respective laws in their country vs respecting the privacy of the person on your gambling website. Personally, there are lots of people who consider KYC as a make or break function in their choice of gambling due to the volume and amount of bets they do in a gambling website.

Though implementing more features and security may determine if a person is laundering money, this could be destructive in the gambling owner's perspective in attracting more users to its database.

[blockman]

I don't think authorities will shutdown a service easily but they will first check it if the service is following a protocol to avoid the money launders.

They can close it in an instant if there's a proper basis and court order. But for that first offense, they'll just give them a penalty and the establish has to pay for it.
They'll do an investigation and when it's proven, they'll have an assessment and basis on what action must be taken. The authorities won't just come and go without any evidence provided to these establishments without proper research and basis.

[Stalker22]

You keep writing nonsense.

Thank you for that. I think you are lovely too, in your own way.

That the police caught someone trying to launder money still counts as "caught in the act," right? Money laundering is also a crime and in an ideal world they are also preventable. You can answer a simple question for me: if the fraudster is not caught, then which option is better: 1.) he paid taxes on his criminal income. 2.) didn't pay taxes? I continue to consider the first case a lesser evil than the second. What do you think?

If you could show me an example of a criminal paying taxes on his income from criminal activity, I would greatly appreciate it.

I wonder if in the case of payment of tax on winnings is checked on what means the person played? After all, in the case of verification questions may arise from where the person has such a large amount to play in the casino and whether taxes were paid on this money.

Exactly.

[darkangel11]

I feel like most casinos care about making money the safe way. They want high rollers but they also want to look legit in the way that they did everything they could to prevent laundering. The best thing they can get is a scammer launderer that is good and has all the fake documents they can ask for. They don't really care where the money comes from as long as their hands are clean and they can defend in court if it comes to that. 

There are some legal casinos that really cares about money laundering act and they do take normal precautions to make sure that gamblers will not come to there casinos and use funds that are stolen or illegal on there casinos because the government also can come for them if they don't regulate the rate funds flow into the casino.
This is why there is maximum amount we can use to gamble on a casino which is one of the reasons set aside to regulate and make sure that gamblers stick to rules of the casino.
There are so casinos that we never care about money laundering act because they can majorly after inflow of funds to there casinos with checking the risk it might post later to them.

IMO they don't care because it's business. If there was no KYC requirement they'd be making much more money and attracting more clients.
Why would they care if someone pays taxes or not? Those money mostly go to the pockets of politicians and government employees, the casino owner couldn't care less about that money.

The rules are imposed by governments. It's like that rule that you have to park in the marked spots. If there was no such rule you'd park wherever it fits you and you wouldn't obey their rules.

[serjent05]

I don't think authorities will shutdown a service easily but they will first check it if the service is following a protocol to avoid the money launders.

They can close it in an instant if there's a proper basis and court order. But for that first offense, they'll just give them a penalty and the establish has to pay for it.
They'll do an investigation and when it's proven, they'll have an assessment and basis on what action must be taken. The authorities won't just come and go without any evidence provided to these establishments without proper research and basis.

It is instant after the decree is issued but it will take some time depending on the severity of the crime.   Authority cannot shutdown a service easily unless proven guilty of the accused crime.  It takes process and often times when the attorney of the service provider is well versed with the system the process takes months to years before the decision is made.

That the police caught someone trying to launder money still counts as "caught in the act," right? Money laundering is also a crime and in an ideal world they are also preventable. You can answer a simple question for me: if the fraudster is not caught, then which option is better: 1.) he paid taxes on his criminal income. 2.) didn't pay taxes? I continue to consider the first case a lesser evil than the second. What do you think?

If you could show me an example of a criminal paying taxes on his income from criminal activity, I would greatly appreciate it.

Fraudster will never pay taxes on the money they laundered.  It will only bring them trouble if they do  .

[AmoreJaz]

I feel like most casinos care about making money the safe way. They want high rollers but they also want to look legit in the way that they did everything they could to prevent laundering. The best thing they can get is a scammer launderer that is good and has all the fake documents they can ask for. They don't really care where the money comes from as long as their hands are clean and they can defend in court if it comes to that.  

There are some legal casinos that really cares about money laundering act and they do take normal precautions to make sure that gamblers will not come to there casinos and use funds that are stolen or illegal on there casinos because the government also can come for them if they don't regulate the rate funds flow into the casino.
This is why there is maximum amount we can use to gamble on a casino which is one of the reasons set aside to regulate and make sure that gamblers stick to rules of the casino.
There are so casinos that we never care about money laundering act because they can majorly after inflow of funds to there casinos with checking the risk it might post later to them.

IMO they don't care because it's business. If there was no KYC requirement they'd be making much more money and attracting more clients.
Why would they care if someone pays taxes or not? Those money mostly go to the pockets of politicians and government employees, the casino owner couldn't care less about that money.

The rules are imposed by governments. It's like that rule that you have to park in the marked spots. If there was no such rule you'd park wherever it fits you and you wouldn't obey their rules.

some casinos will only flag down players if they got huge amount of winnings. and that will entail checking the background of the player and maybe, check the source of funds, if in case this aspect is written in their ToS. but usually, most casinos don't care much where you got your money to play with. maybe, you can encounter the financial check to some casinos which don't want to release the winnings of the player or they are seeing suspicious amounts coming in.

[Vaskiy]

I came across an incident in which two persons who used the stolen funds on gambling to make it their winning amount. Online rummy is quite popular in my country and in one incident two persons have stolen a big amount and to make this money legal they've made a good plan. Both played one on one game and the losers amount moved to the winner. Here both are winners, finally they got caught. So, in all possible ways people do laundering. It is not limited to just casino platforms.

[RealMalatesta]

I don't think casinos, gambling websites couldn't stop money laundering what they can actually do is with the kyc data it can help when the investigation agency is approached for investigation. However, gambling websites have become one of the biggest part of money laundering by evading the investigators, but I think good reputable casinos require this kyc data to  stop it and I also think it plays a great role in the investigation.

you cannot just Imply KYC in crypto gambling because you knew that people here mostly wanted privacy and hates providing KYC when they gamble and also depends in how much are the amount being launder because criminal and syndicate nowadays knows how to use gambling platform as form of laundering .,

It's clear that they will find a loophole, but at the very least the casinos are following the laws and that's fine for them. Of course there are loopholes, bad people could pay people a thousand dollars each to get a new account everywhere, and could "gamble" enough to lose just like 5-10% and then withdraw, and I mean millions of dollars and if asked KYC they will show the KYC they bought from someone else.

But that's the casinos problem, they were asked to get the KYC from gamblers and they do, and that's it, there is nothing else they could do. The aim is not to stop them doing it, I mean if they could then they would but they can't, so the aim is to follow regulations.

[Jemzx00]

I came across an incident in which two persons who used the stolen funds on gambling to make it their winning amount. Online rummy is quite popular in my country and in one incident two persons have stolen a big amount and to make this money legal they've made a good plan. Both played one on one game and the losers amount moved to the winner. Here both are winners, finally they got caught. So, in all possible ways people do laundering. It is not limited to just casino platforms.

If you think about it, people can launder money in a lot of ways however gambling is one of the platforms that can be easily used to justify and launder illegal funds. Just as the story you've provided, Two people were able to make the stolen funds somehow clean just by challenging each other to intentionally lose to one another and keep and split the money afterward. This method is easy to do and with limited fees to do on the casino.

This is also why most online casinos require KYC for a certain amount to avoid these scenarios from happening so they'll be able to track the person in case something like this occurred. KYC might not avoid these from happening but it will make the investigation somewhat easier.

[LoyceV]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from.

I think you're right. I wrote this last week:

If I'd want to launder stolen money through a casino, I'd make one large high risk bet (say x10). If I win, I can prove that 90% of my money came from being very lucky at a casino! If I lose, I move on to the next casino.
So anyone betting $100k in one bet and winning $1M could very well be laundering money! Anyone losing $100k and abandoning their account could very well have attempted to launder the money! But someone who deposits and withdraws a couple hundred bucks doesn't mean he's he's laundering the money, and even if he would try that way, it wouldn't do him any good.

I guess casinos don't investigate users who lose $100k and leave

I've seen many cases in which a casino suddenly asks KYC after winning. That's because they don't like paying, but they totally don't mind taking the money when people lose.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

If they'd truely care about money laundering, they'd ask KYC and details about the origin of the funds before allowing to deposit. But they don't care, and as long as they're hiding in shady tax havens, they get away with it.

But the case for "Money Laundry" most casino have a golden rules, each deposit need to have 1x turnover before they withdraw. So, the user need to completed first the turn over otherwise is gonna to get "KYC".

I wrote something about that last week too:

Casinos want you to wager because they earn from it.

Wagering 1x doesn't change anything if it's money laundering, other than the casino taking it's house edge from the laundered money.

Check the definition:

Money laundering is the illegal process of making large amounts of money generated by criminal activity, such as drug trafficking or terrorist funding, appear to have come from a legitimate source.

Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source.

Money laundering is the processing of these criminal proceeds to disguise their illegal origin.

An abundance of black money leads to the origin of several illegal practices, and money laundering is one such process to disguise the source of such funds.

Money laundering is the practice of making money that was gained through criminal means, such as smuggling weapons, look as if it came from a legitimate business activity.

The intention of money laundering is to make illegally obtained money appear to come from a legitimate source.

Money laundering refers to a financial transaction scheme that aims to conceal the identity, source, and destination of illicitly-obtained money.

the crime of moving money that has been obtained illegally through banks and other businesses to make it seem as if the money has been obtained legally

Those definitions all have one thing in common: the money has to come from an illicit source. Simply depositing and withdrawing doesn't mean the source was illicit, and even trying to hide your money flows from blockchain analysis doesn't mean it's money laundering.

Depositing and withdrawing doesn't mean it's money laundering.

[Baofeng]

I came across an incident in which two persons who used the stolen funds on gambling to make it their winning amount. Online rummy is quite popular in my country and in one incident two persons have stolen a big amount and to make this money legal they've made a good plan. Both played one on one game and the losers amount moved to the winner. Here both are winners, finally they got caught. So, in all possible ways people do laundering. It is not limited to just casino platforms.

Those two are very smart to stole money, but dumb when they try to launder it through gambling platforms. While their plan is really good, perhaps they failed to realized that they might be caught with this style because I would say that this is a common thing that criminals do to launder money.

So I guess the gambling industry is also evolving, not just KYC, maybe they have human and then AI to detect any suspicious activities in their platform so that they be one step ahead, controls is the key for them not to be taken advantage and so mitigate the attractiveness of online gambling platforms for money launderers

[maydna]

When we talk about money laundering, it also happens in the gambling industry but unfortunately, we don't know for sure and can only guess it. Maybe people who want to launder money will look for a reliable casino site so that the casino does not suspect their actions. And sometimes, the casinos can also be tricked even though they have implemented KYC for their members because money launderers are very smart. And with the existence of crypto casinos now giving money launderers the choice to do so because there are still crypto casinos that do not strictly implement KYC so they are free to do so.

[KTChampions]

You keep writing nonsense.

Thank you for that. I think you are lovely too, in your own way.

Reminder:

In principle, I don’t see anything wrong with this, because if the police couldn’t catch the criminal while committing a crime, then there’s nothing to be done, and if he pays taxes, then that’s good.

Imagine if someone stole your car and then the next day showed up on the car market selling it. The police would be like, "Well, we could not catch him while he was stealing your car, and now he is free to sell it at the market." That cannot be right, because legally speaking, you are still the rightful owner of that car.

The same principle applies to money, because money obtained illegally belongs to the original owner(s) and not to criminals.

On my logical reasoning, you wrote nonsense (an incorrect analogy, and if you did not know, an analogy is always a mistake).
Either defend your position, or admit that you write nonsense 

That the police caught someone trying to launder money still counts as "caught in the act," right? Money laundering is also a crime and in an ideal world they are also preventable. You can answer a simple question for me: if the fraudster is not caught, then which option is better: 1.) he paid taxes on his criminal income. 2.) didn't pay taxes? I continue to consider the first case a lesser evil than the second. What do you think?

If you could show me an example of a criminal paying taxes on his income from criminal activity, I would greatly appreciate it.

Once again you avoided answering a simple question. Why am I not surprised  It is easy to write nonsense about a fictional ideal world, but it is difficult to be in reality.

As for examples, there are many of them both now and in history. Look where the expression "money laundering" came from - this is exactly the case when the criminal whitewashed its money through a fake business, that is, it actually paid taxes on its criminal income. Personally, I know a butcher shop owner who only bought it to have an uncontrolled (weakly controlled) cash flow.

P.S. I understand that you, like most people who make a mistake, will never admit it. And I will never hear an answer to my question, what is better 1.) criminal not caught and not paying taxes, or 2.) criminal not caught, but paying taxes 

[Smartvirus]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

When huge funds are involved, KYC is something any user would be willing to give and fir Casinos to go above that and demand fir source of funds seems a little bit too much as, customer would have there suspicion and something to hold on to. The few that might go through successfully are likely not going to ever play on the casino and won't hesitate to paint the casino red as to warn orders of the potentiality of loosing there funds to KYC and other means of verifications.

So, what do you say, does crypto casinos really care about money laundering?

Don't they? I actually think they do but are likely to keep a low profile and focus on the wins rather than the deposits itself because they hope to collect from lost bets. Yeah, seizing funds while probing the source of funds could be one way to it but, it would immediately paint the casino red and they won't want that. Else, huge deposit is for sure a suspicious act and that's what the casinos watch out for.

[seoincorporation]

Wagering 1x doesn't change anything if it's money laundering, other than the casino taking it's house edge from the laundered money.

Depositing and withdrawing doesn't mean it's money laundering.

You hit the nail mate, if a user deposit and withdraw the authority could ask where the depo comes from, and that's why this practice isn't a smart move or a real way to wash that money. A huge win with a big multiplier should be involved.

And for those who say that it's easier to do this with cash, we are talking about how people wash their cryptos with casinos, we know there are tons of scams out there, and those coins comes from illegal activities.

[fullhdpixel]

I don't think casinos, gambling websites couldn't stop money laundering what they can actually do is with the kyc data it can help when the investigation agency is approached for investigation. However, gambling websites have become one of the biggest part of money laundering by evading the investigators, but I think good reputable casinos require this kyc data to  stop it and I also think it plays a great role in the investigation.

you cannot just Imply KYC in crypto gambling because you knew that people here mostly wanted privacy and hates providing KYC when they gamble and also depends in how much are the amount being launder because criminal and syndicate nowadays knows how to use gambling platform as form of laundering .,

Money launderers will always prefer casinos that won't ask for KYC so they can't keep their identities when betting. KYC is one of the reasons for authorities to track them as well as their transactions so they will definitely choose not to use sites that would ask for KYC. Criminals could easily keep their laundered money and use it to gamble. There were just unlucky gamblers who got caught through their gambling activities but most criminals nowadays already know what to do.

This may be the reason why some licensed casinos don't require a KYC but they will only surprise the money launderers once they are now in the withdrawal page. Of course if you are a money launderer you will be scared for this but if you know that you are innocent, you will choose to do a KYC only to prove the casino that they are wrong with their accusations.

If it's only the transaction alone, it will be hard for the authorities to find out the launderer because they can use a mixing service but KYC is more effective because this includes their name and addresses on where they live. Faking KYC will also be hard because KYC verification now are more stricter.

[erep]

If it's only the transaction alone, it will be hard for the authorities to find out the launderer because they can use a mixing service but KYC is more effective because this includes their name and addresses on where they live. Faking KYC will also be hard because KYC verification now are more stricter.

If transactions only on blockchain it will be difficult to detect whether money laundering or not, but if user has deposited funds into casino account then casino can restrict withdrawals or freeze funds before user verify KYC. if KYC only uses identity documents without selfies then it is not effective enough because it can still be manipulated from using fake data. However, even if casinos quibble KYC rules for safety factor but still not all gamblers will agree with strict KYC rules even to prevent AML on casino sites.

[348Judah]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

I'm not siding with the casinos on this, but that's probably what the regulators and authorities are asking them to do. Similar to how banks ask you for a statement about the source of funds when you want to deposit or withdraw a large sum of money. Only thing that I find unfair about casinos is that they do not ask for this information when making deposits or when registering, but when withdrawing money after winning. So basically, people that move large sums of money into the casino are not being asked to do this, but people that just won a moderate amount of money are.

When has the casinos turn to AML agency or government personell that has the institutions of banks KYC in there mandates, as a matter of fact an average seriously minded casino should not demand for KYC because it will chase gamblers away from them, are they government, if we needed KYC then the ones experienced from banks were enough and not in gambling again, it enough, crypto gamblings are not the initiators of money laundering, this is what has been in place right from history of time,

[Viscore]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Of course they care but what they care the most are the profits that they will gained from their players. Building casinos are big time businesses, so if there are high rollers coming in, that means huge profits for the casinos. Although there may be some suspicious acts particularly for high bettors, but KYC is never enough to trace illegal money transactions. There should be high surveillance placed in casinos so that people involved in money laundering will be easily caught and arrested.

[Oneandpure]

If transactions only on blockchain it will be difficult to detect whether money laundering or not, but if user has deposited funds into casino account then casino can restrict withdrawals or freeze funds before user verify KYC. if KYC only uses identity documents without selfies then it is not effective enough because it can still be manipulated from using fake data. However, even if casinos quibble KYC rules for safety factor but still not all gamblers will agree with strict KYC rules even to prevent AML on casino sites.

Sending trough blockchain could detected when assets sent to casino account or try to cash out by sending to exchange market, not reason selling huge bitcoin assets trough convert to another digital currency transaction like PayPal. But casino account can manipulated by using fake KYC because nowadays many channel group give service by selling casino account have been verified by document ID.

How smart rule for adapting with money laundering I think always have little way how to manipulated this transaction kinds, how ever not all gambler want to show their ID by uploading document on casino account website. Almost with casino gambling have been adapting with KYC need to submit with selfies after have use document ID like ID card or using passport.

[serjent05]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Of course they care but what they care the most are the profits that they will gained from their players. Building casinos are big time businesses, so if there are high rollers coming in, that means huge profits for the casinos. Although there may be some suspicious acts particularly for high bettors, but KYC is never enough to trace illegal money transactions. There should be high surveillance placed in casinos so that people involved in money laundering will be easily caught and arrested.

So it is the money that they care not about the money laundering thing.  A surveillance camera in an online casino?  How would that work?  If you are talking about land based casino, they have cctv everywhere so I don't think having no surveillance camera would be an issue.

Casino become concerned over KYC when the authority demanded them to implement the procedure but originally, I think Casino would love to avoid the implementation of KYC if possible because it shies away potential whales that value their privacy too much.

[BitcoinPanther]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

I'm not siding with the casinos on this, but that's probably what the regulators and authorities are asking them to do. Similar to how banks ask you for a statement about the source of funds when you want to deposit or withdraw a large sum of money. Only thing that I find unfair about casinos is that they do not ask for this information when making deposits or when registering, but when withdrawing money after winning. So basically, people that move large sums of money into the casino are not being asked to do this, but people that just won a moderate amount of money are.

When has the casinos turn to AML agency or government personell that has the institutions of banks KYC in there mandates, as a matter of fact an average seriously minded casino should not demand for KYC because it will chase gamblers away from them, are they government, if we needed KYC then the ones experienced from banks were enough and not in gambling again, it enough, crypto gamblings are not the initiators of money laundering, this is what has been in place right from history of time,

But a smart casino will definitely follow the government requirement of KYC implementation.  It is better to lose some players than being shutdown totally by the government authority.  As a Casino that wanted to have a smooth operation and labeled as legal company by the authority, they need to follow the authority rules.  We are not in an anarchy so the casino need to follow rules and regulation so that  they can operate with peace of mind.

[blockman]

I don't think authorities will shutdown a service easily but they will first check it if the service is following a protocol to avoid the money launders.

They can close it in an instant if there's a proper basis and court order. But for that first offense, they'll just give them a penalty and the establish has to pay for it.
They'll do an investigation and when it's proven, they'll have an assessment and basis on what action must be taken. The authorities won't just come and go without any evidence provided to these establishments without proper research and basis.

It is instant after the decree is issued but it will take some time depending on the severity of the crime.   Authority cannot shutdown a service easily unless proven guilty of the accused crime.  It takes process and often times when the attorney of the service provider is well versed with the system the process takes months to years before the decision is made.

Yes, that's what I'm saying and that's why there's a due process and proper procedure before they do that. It is out of law if they force closure without due process.
These businesses and establishments know also the law about it and that's why if there are authorities that have done it to them, they can sue them and put it properly in the court.

[samcrypto]

It is instant after the decree is issued but it will take some time depending on the severity of the crime.   Authority cannot shutdown a service easily unless proven guilty of the accused crime.  It takes process and often times when the attorney of the service provider is well versed with the system the process takes months to years before the decision is made.

Yes, that's what I'm saying and that's why there's a due process and proper procedure before they do that. It is out of law if they force closure without due process.
These businesses and establishments know also the law about it and that's why if there are authorities that have done it to them, they can sue them and put it properly in the court.

Having that pending case can already ruin the reputation of the site, either they ask for compensation if they won the case or totally close the business to save their reputation as a developer and make another business again that will follow the law this time. Money laundering is a big issue, gambling activities are already red flag to the government and that’s why many are strictly implementing the KYC system, or else they will face problem later on if the government intervene with their system.

[AicecreaME]

It is instant after the decree is issued but it will take some time depending on the severity of the crime.   Authority cannot shutdown a service easily unless proven guilty of the accused crime.  It takes process and often times when the attorney of the service provider is well versed with the system the process takes months to years before the decision is made.

Yes, that's what I'm saying and that's why there's a due process and proper procedure before they do that. It is out of law if they force closure without due process.
These businesses and establishments know also the law about it and that's why if there are authorities that have done it to them, they can sue them and put it properly in the court.

Having that pending case can already ruin the reputation of the site, either they ask for compensation if they won the case or totally close the business to save their reputation as a developer and make another business again that will follow the law this time. Money laundering is a big issue, gambling activities are already red flag to the government and that’s why many are strictly implementing the KYC system, or else they will face problem later on if the government intervene with their system.

I agree with this.

Serious cases such as being involved in money laundering is a huge red flag for a casino and even in different financial platforms because the government loathes such act since it is against the law and it is one of the main sources of corruption. If a casino is known to be tolerating incoming funds or deposits from their players that the source is unknown for or is already known illegal, they will really face several charges that can break their reputation and even put into halt their business operations.

The casino owners should know that they should abide by the law and not just when it's convenient to them. After all, the law can make or break their business. They might lose their license and they might even face several cases that has different levels of punishment and fine. This is the reason why most casinos now ask for KYC to avoid this kind of inconvenience on their part because their source of income will be at stake if it is proven that money laundering in being done in their website or application.

[Invester]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

I'm not siding with the casinos on this, but that's probably what the regulators and authorities are asking them to do. Similar to how banks ask you for a statement about the source of funds when you want to deposit or withdraw a large sum of money. Only thing that I find unfair about casinos is that they do not ask for this information when making deposits or when registering, but when withdrawing money after winning. So basically, people that move large sums of money into the casino are not being asked to do this, but people that just won a moderate amount of money are.

When has the casinos turn to AML agency or government personell that has the institutions of banks KYC in there mandates, as a matter of fact an average seriously minded casino should not demand for KYC because it will chase gamblers away from them, are they government, if we needed KYC then the ones experienced from banks were enough and not in gambling again, it enough, crypto gamblings are not the initiators of money laundering, this is what has been in place right from history of time,

But a smart casino will definitely follow the government requirement of KYC implementation.  It is better to lose some players than being shutdown totally by the government authority.  As a Casino that wanted to have a smooth operation and labeled as legal company by the authority, they need to follow the authority rules.  We are not in an anarchy so the casino need to follow rules and regulation so that  they can operate with peace of mind.

Casinos have no choice but to follow their government requirements especially KYC. And right, the same with the banks asking for KYC to avoid money laundering. These meant that all deposits that are not normal to their clients monthly and yearly income can cause a red alert on the casino or bank.

What I have seen is these online casinos KYC rules are to protect from international money laundering. What about local money laundering? Did any of us here experienced stiff KYC from our local land-based casinos?

[blockman]

It is instant after the decree is issued but it will take some time depending on the severity of the crime.   Authority cannot shutdown a service easily unless proven guilty of the accused crime.  It takes process and often times when the attorney of the service provider is well versed with the system the process takes months to years before the decision is made.

Yes, that's what I'm saying and that's why there's a due process and proper procedure before they do that. It is out of law if they force closure without due process.
These businesses and establishments know also the law about it and that's why if there are authorities that have done it to them, they can sue them and put it properly in the court.

Having that pending case can already ruin the reputation of the site, either they ask for compensation if they won the case or totally close the business to save their reputation as a developer and make another business again that will follow the law this time.

A pending case really gives that anxiety not just to the company but also to the players. But as long as it's not the verdict then, there's no need to think of it as a problem at all.

Money laundering is a big issue, gambling activities are already red flag to the government and that’s why many are strictly implementing the KYC system, or else they will face problem later on if the government intervene with their system.

Do not generalize this. Because if it's already a red flag to the government then we see no Vegas, we see no Macao and other gambling operators that are making business on a country.

[gunhell16]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I'm just asking you OP, I don't mean anything. You said you saw high rollers, right?
How did you say these high rollers were running some big scams, and you even knew that they played casino games to gamble with their hard-earned money? How did you know about this thing?

Second, it is also true that KYC is not enough to prevent money laundering in cryptocurrency, I think it will not be lost in the crypto business industry. Because it is anonymous, things like this will probably happen again and again for sure, But I hope it can be controlled somehow.

[Alisha-k]

Crypto Casinos are out for business. The big bag boys get the best vip threats from this casinos not minding where the bags are coming from. KYC most times are formalities or if it's been held serious its for low deposits but their vip clients are threated specially paying less attention to how this funds are gotten all the consider is big business deals. Many will say the follow government rules to me the rules only affect the poor

[Stakefast]

It’s a fact, most highrollers are indeed scammers running Ponzi scams or rugging tokens.

[BitcoinPanther]

I'm just asking you OP, I don't mean anything. You said you saw high rollers, right?
How did you say these high rollers were running some big scams, and you even knew that they played casino games to gamble with their hard-earned money? How did you know about this thing?

I may not be the OP but I don't mind answering your question.  If you google gambling crimes then put tags on money laundering, you can find news about CEO or founder of some scam company and its gambling activity. It is an easy search actually, just some typing and a click of a mouse  and many information will be listed on your search screen.

Second, it is also true that KYC is not enough to prevent money laundering in cryptocurrency, I think it will not be lost in the crypto business industry. Because it is anonymous, things like this will probably happen again and again for sure, But I hope it can be controlled somehow.

KYC somehow prevent some act of money laundering but money launderer are getting smarter each day creating possible means to work around the KYC that hurdle their laundering activity.

[batang_bitcoin]

KYC somehow prevent some act of money laundering but money launderer are getting smarter each day creating possible means to work around the KYC that hurdle their laundering activity.

They're smarter each day because it's their money that's being held if they don't do action.
What they do if they've been already flagged by a casino or any exchange, they'll use other's identity which they can easily buy cheaply. That's why they are unstoppable on what they do. But if they're unlucky and caught, they know what charges they shall face.

[molsewid]

KYC somehow prevent some act of money laundering but money launderer are getting smarter each day creating possible means to work around the KYC that hurdle their laundering activity.

They're smarter each day because it's their money that's being held if they don't do action.
What they do if they've been already flagged by a casino or any exchange, they'll use other's identity which they can easily buy cheaply. That's why they are unstoppable on what they do. But if they're unlucky and caught, they know what charges they shall face.

Indeed, in fact I receive a call and a text from a launderer earlier today, apparently my friend is a victim and they are pushing him very hard just for them to get more money, scammers are getting smarter now, they know how to use technology and manipulate people as well. Kyc is the best way and one of the way to avoid it but then as what we have said they are getting smarter, now they can now buy personal details from brokers to use in different website and to get some referrals bonus as well.

[STT]

Laundering and scam or phishing would be two different things.  It can take a decade to provide an otherwise legitimate operation is connected to laundering or some kind of illegal activity.  Its not really something that can be pinned on gambling because it is a cash intensive activity but its not exclusively so, there are many different industries that might process most of their cash flow in plain currency.    The simpliest example I can remember hearing of was an account manager in local government, they claimed cashback from normal purchases from a supermarket and then gambled that side avenue of cash as it wasnt immediately apparent.  Its not a very elaborate scheme, its just down to the people with oversight like accountants involved to keep track of.

[AicecreaME]

Laundering and scam or phishing would be two different things.  It can take a decade to provide an otherwise legitimate operation is connected to laundering or some kind of illegal activity.  Its not really something that can be pinned on gambling because it is a cash intensive activity but its not exclusively so, there are many different industries that might process most of their cash flow in plain currency.    The simpliest example I can remember hearing of was an account manager in local government, they claimed cashback from normal purchases from a supermarket and then gambled that side avenue of cash as it wasnt immediately apparent.  Its not a very elaborate scheme, its just down to the people with oversight like accountants involved to keep track of.

These three are indeed different things. Money laundering is one of the many issues that the government loathes because this is where corruption stems. Most financial platforms really avoid this and make sure to do necessary actions to prevent this from happening such as asking the clients or players to undergo KYC to verify their identity and to check their source of income as well. This is necessary on the end of the casino so that they could countercheck the deposited amounts and if those amounts are justifiable with the declared source of income of the client.

One of the possible ways people can try to put their funds to is through crypto, which is why there are sentiments that maybe crypto casinos has been the safe haven of those laundering money, avoiding taxes, and those that came from illegal source. If the casinos are doing everything they can to prevent AMLA, then they have nothing to be worried about. The only thing that has been pinpointing in this issue is that if some casinos tolerate such illegal activity which can cost them (the casino) their reputation and ability to operate as well.

[traderethereum]

KYC somehow prevent some act of money laundering but money launderer are getting smarter each day creating possible means to work around the KYC that hurdle their laundering activity.

They're smarter each day because it's their money that's being held if they don't do action.
What they do if they've been already flagged by a casino or any exchange, they'll use other's identity which they can easily buy cheaply. That's why they are unstoppable on what they do. But if they're unlucky and caught, they know what charges they shall face.

Strict KYC won't stop them from continuing to launder money and I think some casinos might be a place to do that money laundering.
They can easily use someone else's identity to do KYC, and they can even pay someone else to do it on their account.
This makes the task of the regulator even more difficult and they should be able to find a way to find out how to catch the money launderers.
And if their account is suspected of money laundering, they can move to another account and I think they have set up some casinos for money laundering and maybe even have fully verified accounts.

[_act_]

Strict KYC won't stop them from continuing to launder money and I think some casinos might be a place to do that money laundering.
They can easily use someone else's identity to do KYC, and they can even pay someone else to do it on their account.
This makes the task of the regulator even more difficult and they should be able to find a way to find out how to catch the money launderers.

Without gambling sites, money laundering would always exist is what I can say. Money are even easily laundered through the bank with ease.

And if their account is suspected of money laundering, they can move to another account and I think they have set up some casinos for money laundering and maybe even have fully verified accounts.

Gambling sites are wise, if you have no money yet on a casino, there would not be a suspect. The suspicion starts from a deposit in a way the money deposited would be seized.

[Nrcewker]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

To prevent this , casinos have introduced KYC, and some hate this stating that Bitcoins are for anonymity. So when a casino says to KYC, many Bitcoin holders frown upon it.
Now they also come in front and stands against money laundering. I mean what will now the casinos do.
Casinos are now trying their best to prevent these types of laundering as far as they can. Rest anything can be possible.
Our duty to not break any rules at a casino and play there with honest.

[romero121]

Majority of Money laundering is taking place through Smurfs, Mules and Shell Corporations. Gambling is on the list, but it isn't used much. The digital economy have given space for the money laundering to be done in with ease. Even with KYC people were able to make the money legal. It is quite hard to limit people from money laundering and gambling is just a small percentile against the big volume of money being laundered all around.

Gambling being a big market, there is misunderstanding that gambling is contributing big to money laundering compared to the rest of the ways followed.

[batang_bitcoin]

They're smarter each day because it's their money that's being held if they don't do action.
What they do if they've been already flagged by a casino or any exchange, they'll use other's identity which they can easily buy cheaply. That's why they are unstoppable on what they do. But if they're unlucky and caught, they know what charges they shall face.

Indeed, in fact I receive a call and a text from a launderer earlier today, apparently my friend is a victim and they are pushing him very hard just for them to get more money, scammers are getting smarter now, they know how to use technology and manipulate people as well. Kyc is the best way and one of the way to avoid it but then as what we have said they are getting smarter, now they can now buy personal details from brokers to use in different website and to get some referrals bonus as well.

Sadly, these scammers and launderers have been extending their network and for a website that we sign up, we don't know if the admin of it is selling the database to them.
It's hard to trust these days and you'll get those random calls from these people asking you with anything from the scheme that they're running and would just suck the money out from your pocket. So, it's a combination of launderers and scammers.

[kamvreto]

Majority of Money laundering is taking place through Smurfs, Mules and Shell Corporations. Gambling is on the list, but it isn't used much. The digital economy have given space for the money laundering to be done in with ease. Even with KYC people were able to make the money legal. It is quite hard to limit people from money laundering and gambling is just a small percentile against the big volume of money being laundered all around.

Gambling being a big market, there is misunderstanding that gambling is contributing big to money laundering compared to the rest of the ways followed.

Actually there are many other ways and not just in gambling. Gambling sites are just a cover for easy money laundering. Some scammers who do money laundering pay online gambling site owners to falsify their data and can transact easily.
KYC will not be valid forever, KYC can be manipulated very easily to make it look genuine and make money legal.
Gambling has indeed become a big market, a market that is always visited by people from all over the world by making several bets and using gambling games. contributions to money laundering are not always on online gambling sites. it's just a new loophole and of course it's been monitored by authorized officers.

[decodx]

What I have seen is these online casinos KYC rules are to protect from international money laundering. What about local money laundering? Did any of us here experienced stiff KYC from our local land-based casinos?

Yes. If you are carrying large amounts of cash and get casino chips, the floor staff will ID you. This serves two purposes: it tracks how many chips have been given to each guest, and it protects against any kind of money laundering or other criminal activity. If you are given chips and don’t present a valid ID, the casino will confiscate them. The floor staff also knows most of their high-roller guests by name. So, if you’re going to be playing in a live casino, make sure your ID is up to date and keep it with you.

[traderethereum]

Strict KYC won't stop them from continuing to launder money and I think some casinos might be a place to do that money laundering.
They can easily use someone else's identity to do KYC, and they can even pay someone else to do it on their account.
This makes the task of the regulator even more difficult and they should be able to find a way to find out how to catch the money launderers.

Without gambling sites, money laundering would always exist is what I can say. Money are even easily laundered through the bank with ease.

If gambling sites do not exist, money laundering will search for other businesses and I am sure they will find it easily as they have a way to get it.
If the launder wants to use the bank, they will search for the bank from outside the country and not local banks to stay away from the tracking of the government.

And if their account is suspected of money laundering, they can move to another account and I think they have set up some casinos for money laundering and maybe even have fully verified accounts.

Gambling sites are wise, if you have no money yet on a casino, there would not be a suspect. The suspicion starts from a deposit in a way the money deposited would be seized.

Not just from a deposit but the casino can be suspicious if someone wants to withdraw a big amount of money.
That is why the casino will check every active account of the members to know more.
Maybe KYC is something they will ask their members if their suspicion becomes bigger.

[TopT3ns]

What I have seen is these online casinos KYC rules are to protect from international money laundering. What about local money laundering? Did any of us here experienced stiff KYC from our local land-based casinos?

Yes. If you are carrying large amounts of cash and get casino chips, the floor staff will ID you. This serves two purposes: it tracks how many chips have been given to each guest, and it protects against any kind of money laundering or other criminal activity. If you are given chips and don’t present a valid ID, the casino will confiscate them. The floor staff also knows most of their high-roller guests by name. So, if you’re going to be playing in a live casino, make sure your ID is up to date and keep it with you.

Having staff at the front is very important to maintain the circulation of money in the casino, but you need to know that there are some gambling places that don't need to do that because the developer realizes that the assets owned are the privacy of all customers, this depends on the rules of the gambling place. because in every place is different not necessarily the same. When at a gambling place I prefer not to use large amounts of money because it can be detected by the salso system who has the most and is very dangerous when the developer marks your account and is made to always lose.

[X-ray]

KYC somehow prevent some act of money laundering but money launderer are getting smarter each day creating possible means to work around the KYC that hurdle their laundering activity.

They're smarter each day because it's their money that's being held if they don't do action.
What they do if they've been already flagged by a casino or any exchange, they'll use other's identity which they can easily buy cheaply. That's why they are unstoppable on what they do. But if they're unlucky and caught, they know what charges they shall face.

that means if they were stealing others identity. Using others identity is not so effective. The exchange site or gambling platform need to verify that even further. money laundering has become a very serious problem in the crypto where there are so many criminals are using crypto as a way to avoid the regulators. If you are sending your money to the a platform and that means if you have not owned your money. They need to verify your identity as well.
It's not always easy as you said above. that's so difficult to pass it. day to the day there will be more restriction.

[ethereumhunter]

Majority of Money laundering is taking place through Smurfs, Mules and Shell Corporations. Gambling is on the list, but it isn't used much. The digital economy have given space for the money laundering to be done in with ease. Even with KYC people were able to make the money legal. It is quite hard to limit people from money laundering and gambling is just a small percentile against the big volume of money being laundered all around.

Gambling being a big market, there is misunderstanding that gambling is contributing big to money laundering compared to the rest of the ways followed.

This may be a long way to go to prevent money laundering, which can happen in many businesses and we have seen that for a long time. The casino only carries out the duties assigned by the regulator to carry out checks for all its members. So when that's done, the casino can find out that there are still people who don't launder money and just play like everyone else.

And with gambling being seen in so many places, this is triggering people who work in government to fix it immediately because otherwise, money laundering cases will always happen and most of us will not know about it.

[Quidat]

Majority of Money laundering is taking place through Smurfs, Mules and Shell Corporations. Gambling is on the list, but it isn't used much. The digital economy have given space for the money laundering to be done in with ease. Even with KYC people were able to make the money legal. It is quite hard to limit people from money laundering and gambling is just a small percentile against the big volume of money being laundered all around.

Gambling being a big market, there is misunderstanding that gambling is contributing big to money laundering compared to the rest of the ways followed.

This may be a long way to go to prevent money laundering, which can happen in many businesses and we have seen that for a long time. The casino only carries out the duties assigned by the regulator to carry out checks for all its members. So when that's done, the casino can find out that there are still people who don't launder money and just play like everyone else.

And with gambling being seen in so many places, this is triggering people who work in government to fix it immediately because otherwise, money laundering cases will always happen and most of us will not know about it.

Any transactions couldnt really be ending up on obvious which is no brainer for those who do launder money but its true that this kind of problem isnt something that could be resolved or wiped immediately but it cant really be avoided not to put up some focus or emphasis on gambling platforms considering that huge money do circulates out on this business which it would be that common
sense that regulators will really be having that strict compliance in regarding with rules and regulations which is to be set into its players or depositors.
This doesnt limit out on gambling industry but also in other businesses as well which these things are just typical ones for government to do so.

[ethereumhunter]

Majority of Money laundering is taking place through Smurfs, Mules and Shell Corporations. Gambling is on the list, but it isn't used much. The digital economy have given space for the money laundering to be done in with ease. Even with KYC people were able to make the money legal. It is quite hard to limit people from money laundering and gambling is just a small percentile against the big volume of money being laundered all around.

Gambling being a big market, there is misunderstanding that gambling is contributing big to money laundering compared to the rest of the ways followed.

This may be a long way to go to prevent money laundering, which can happen in many businesses and we have seen that for a long time. The casino only carries out the duties assigned by the regulator to carry out checks for all its members. So when that's done, the casino can find out that there are still people who don't launder money and just play like everyone else.

And with gambling being seen in so many places, this is triggering people who work in government to fix it immediately because otherwise, money laundering cases will always happen and most of us will not know about it.

Any transactions couldnt really be ending up on obvious which is no brainer for those who do launder money but its true that this kind of problem isnt something that could be resolved or wiped immediately but it cant really be avoided not to put up some focus or emphasis on gambling platforms considering that huge money do circulates out on this business which it would be that common
sense that regulators will really be having that strict compliance in regarding with rules and regulations which is to be set into its players or depositors.
This doesnt limit out on gambling industry but also in other businesses as well which these things are just typical ones for government to do so.

It will be difficult to eliminate the money laundering problem because it still happens in other businesses, not just the gambling business. After all, the perpetrators of money laundering have been around for a long time and it is very difficult to find out who the perpetrators are. In addition, the money laundering business is a big business carried out by those who carry out illegal activities and can hide their activities from the government. And we have seen the development of casino crypto, which can grow rapidly in the last few years, making money laundering actors use the casino crypto business. And maybe they have successfully laundered money in a crypto or fiat casino.

[_act_]

It will be difficult to eliminate the money laundering problem because it still happens in other businesses, not just the gambling business. After all, the perpetrators of money laundering have been around for a long time and it is very difficult to find out who the perpetrators are. In addition, the money laundering business is a big business carried out by those who carry out illegal activities and can hide their activities from the government. And we have seen the development of casino crypto, which can grow rapidly in the last few years, making money laundering actors use the casino crypto business. And maybe they have successfully laundered money in a crypto or fiat casino.

Assuming I am well known in my community, I have a good business which everybody see to be legit, and I am well respected, but if I am involved in money laundering, who is going to know? No one. In my country, the politicians that do money laundering are done through a business man that is not even involved into politics. The money laundering are known while traced to the politician directly, not the business man, but in the process of checking what is going on, then the other person which is the business man would be known to be involved. If talking about money laundering, I am surprised that some people are still referring to gambling sites, which supposed not to be because money laundered rẹ in legit businesses.

[Fundamentals Of]

The casinos won't act as if they are a government agency implementing anti-fraud or anti-money laundering activities because that would mean hurting itself more than anything else. What they would do is to merely comply, no more no less. They won't do an extra mile because that could mean dirty money won't come in. And they don't really care whether the money is dirty or not for as long as it is coming in. But they also wouldn't go as far as tolerating very obvious money laundering because they're also bound to follow the law.

[swogerino]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I agree with you in theory.However because I have been cheated by centralized exchanges like Cex.io I think that the casinos should never do that,the maximum they can do is to ask for documents proving the identity of the person and they have the right to ask for the source of funds but if provided like I did to this exchange and I have still my money frozen shows that is best not to do that.

Beside that even if the casino ask for the source of funds,the scammer may have well mixed the coins in a mixer which makes impossible for normal casino operators to track where the money comes really from.

[Sanitough]

The casinos won't act as if they are a government agency implementing anti-fraud or anti-money laundering activities because that would mean hurting itself more than anything else. What they would do is to merely comply, no more no less. They won't do an extra mile because that could mean dirty money won't come in. And they don't really care whether the money is dirty or not for as long as it is coming in. But they also wouldn't go as far as tolerating very obvious money laundering because they're also bound to follow the law.

All they do is just follow the guidelines from the regulators, yes, no more no less because in reality, they don't want to give their clients some problems as losing their clients means losing their profit. That's why money launderers' loves to launder their dirty money in a casino because it's not strict.

[Frankolala]

Casinos are trying their best to stop money laundry that is why there is KYC but this can not prevent money laundry as the big shots are the ones into money laundry and the casinos needs this big shots to play in their casino. So I think its kinda difficult for the casinos, government only have less time to checkmate the casinos and their customers. Government will only have time, if there is a money laundry case which is traced to that casino.

[lionheart78]

Casinos are trying their best to stop money laundry that is why there is KYC but this can not prevent money laundry as the big shots are the ones into money laundry and the casinos needs this big shots to play in their casino. So I think its kinda difficult for the casinos, government only have less time to checkmate the casinos and their customers. Government will only have time, if there is a money laundry case which is traced to that casino.

I don't think they are trying their best to stop money laundering.  They are not any government institution and they would rather put their funds into marketing to gather players than to spend money tracking down those money launderers.  The best they can do is to implement the required regulation by the government that implements KYC.

Ever heard of any player losing a huge amount of money and have their account blocked?  I haven't heard anyone complaining about that but rather most account block cases are rather winning a huge amount of money and need to undergo KYC.

[Doan9269]

Casinos are trying their best to stop money laundry that is why there is KYC

No amount or kevel of KYC will be able to hold down the misconduct of money laundering by people, if we are to give a closer approach, you'll discover that even the KYC casinos also falls a victim to money laundering themselves, if we consider the rate whereby people were being misled through the demand for KYC then you will believe that by no reason of anything should a centralized exchange got involved in money laundering and yet demanded for KYC.

government only have less time to checkmate the casinos and their customers. Government will only have time, if there is a money laundry case which is traced to that casino

There's nothing people cannot abuse, but I don't think money laundering is a common thing found in gambling than in fiat currency and banks

[Oilacris]

The casinos won't act as if they are a government agency implementing anti-fraud or anti-money laundering activities because that would mean hurting itself more than anything else. What they would do is to merely comply, no more no less. They won't do an extra mile because that could mean dirty money won't come in. And they don't really care whether the money is dirty or not for as long as it is coming in. But they also wouldn't go as far as tolerating very obvious money laundering because they're also bound to follow the law.

All they do is just follow the guidelines from the regulators, yes, no more no less because in reality, they don't want to give their clients some problems as losing their clients means losing their profit. That's why money launderers' loves to launder their dirty money in a casino because it's not strict.

Not strict or they are just letting others pass and its really just normal for them to do so but its true that they dont really have any choice if regulators would really be imposing those rules which they do

need to follow or else it would really be a huge problem into their business but of course there would really be some exemptions when it comes into this regards.

Money laundering is common and if they've decided to let others pass then they do know the risk once they've being caught thats why it wouldnt really be that rampant
or just simply on rare occasions on some point.

[Rengga Jati]

Money laundering is common and if they've decided to let others pass then they do know the risk once they've being caught thats why it wouldnt really be that rampant
or just simply on rare occasions on some point.

That's right if they still want to run smoothly without any obstacles from the authorized parties, usually, they must follow what is directed by the parties, and of course, we all understand what it is.
Regarding money laundering, for them as long as they get a lot of profit and their business continues to run in a threat, this is like a symbiosis of mutualism. And usually, they will protect each other so it will be very difficult to prove even if we can understand if there is money laundering. Especially if the business of the business is a strong party, never mind, we as the community only understand the situation.

[jossiel]

Casinos are trying their best to stop money laundry that is why there is KYC but this can not prevent money laundry as the big shots are the ones into money laundry and the casinos needs this big shots to play in their casino. So I think its kinda difficult for the casinos, government only have less time to checkmate the casinos and their customers. Government will only have time, if there is a money laundry case which is traced to that casino.

It's like the first place that they'll tracked when there's a case.

The government would go back to the casino at the roots of it when a person has done it. And that's why they just have to check it if the user really has done it due to the casino policies and everyone has to comply.

Just as the casino does as well.

[kawetsriyanto]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

I disagree about checking the source of funds. It is a private area. How can a crypto casino evaluate and learn someone's source of funds? It violates people's rights. I simply avoid joining the casino if they force me to show my source of funds. It is too much!!!

Are we going to ignore that land based casinos are not even asking for its gamblers KYC? There are some casinos that need an ID before people can enter. But that's it, they don't photocopy the ID for for their copy. Most casinos I entered do not require ID. You can easily enter as long as you don't look like a criminal or beggar.

What casinos you are talking about? Online casinos or physical casinos?
If land-based casinos don't require visitors for KYC, do you think it should be applied to online-based casinos as well?
In my opinion, each casino may have different regulations, we can't expect them to have the same rules about KYC.

[Rigon]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Money laundering is not limited to gambling, meaning that money laundering can take place through various channels.Money in laundering is totally illegal in any country. Only if we can stop this money laundering, we can strengthen the cryptocurrency.Various crypto casinos have KYC systems that are not as strict and prevent money laundering.There are many people who make various projects and scam huge amounts of money, come to the gambling section and gamble and leave with huge amounts of money.Again this is where I think money launders.

[serjent05]

KYC somehow prevent some act of money laundering but money launderer are getting smarter each day creating possible means to work around the KYC that hurdle their laundering activity.

They're smarter each day because it's their money that's being held if they don't do action.
What they do if they've been already flagged by a casino or any exchange, they'll use other's identity which they can easily buy cheaply. That's why they are unstoppable on what they do. But if they're unlucky and caught, they know what charges they shall face.

Strict KYC won't stop them from continuing to launder money and I think some casinos might be a place to do that money laundering.
They can easily use someone else's identity to do KYC, and they can even pay someone else to do it on their account.
This makes the task of the regulator even more difficult and they should be able to find a way to find out how to catch the money launderers.
And if their account is suspected of money laundering, they can move to another account and I think they have set up some casinos for money laundering and maybe even have fully verified accounts.

True, money launderers will do everything and use anything within their arsenal of knowledge on bypassing any KYC implemented to stop money laundering.  Actually, I even think that some casino are taking a profit of these money launderers and only blocking accounts that are small-timers but allowing those big-time money launderers.  Besides, it is a Casino profit if a money launderer uses their platform and loses a lot of money.  These fraudulent casino can erase their database or modified them clearing traces of these laundered money.  Besides there are lots of cases where a fraudulent casino plays a huge part in money laundering.

Here areexamples of casino being involved in money laundering.
https://www.bbc.com/news/business-60193954
https://www.bloomberg.com/news/articles/2022-02-28/crown-resorts-sued-for-alleged-anti-money-laundering-breaches

[Invester]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

I disagree about checking the source of funds. It is a private area. How can a crypto casino evaluate and learn someone's source of funds? It violates people's rights. I simply avoid joining the casino if they force me to show my source of funds. It is too much!!!

Are we going to ignore that land based casinos are not even asking for its gamblers KYC? There are some casinos that need an ID before people can enter. But that's it, they don't photocopy the ID for for their copy. Most casinos I entered do not require ID. You can easily enter as long as you don't look like a criminal or beggar.

What casinos you are talking about? Online casinos or physical casinos?
If land-based casinos don't require visitors for KYC, do you think it should be applied to online-based casinos as well?
In my opinion, each casino may have different regulations, we can't expect them to have the same rules about KYC.

I also accept it that KYC is possibly needed on online casinos in order to help fight money laundering. But for someone to say that casinos should check all its players source of funds is too private and you also said it is too much.

In your own experiences in a physical casino, did they asked for a KYC? Asking for an ID without taking a copy of it is not KYC. It appears that international money laundering is a very big issue but local money laundering is not that kind of a big deal. It varies from places to places but I just shared my opinion that it is not strict on physical casinos.

[ethereumhunter]

It will be difficult to eliminate the money laundering problem because it still happens in other businesses, not just the gambling business. After all, the perpetrators of money laundering have been around for a long time and it is very difficult to find out who the perpetrators are. In addition, the money laundering business is a big business carried out by those who carry out illegal activities and can hide their activities from the government. And we have seen the development of casino crypto, which can grow rapidly in the last few years, making money laundering actors use the casino crypto business. And maybe they have successfully laundered money in a crypto or fiat casino.

Assuming I am well known in my community, I have a good business which everybody see to be legit, and I am well respected, but if I am involved in money laundering, who is going to know? No one. In my country, the politicians that do money laundering are done through a business man that is not even involved into politics. The money laundering are known while traced to the politician directly, not the business man, but in the process of checking what is going on, then the other person which is the business man would be known to be involved. If talking about money laundering, I am surprised that some people are still referring to gambling sites, which supposed not to be because money laundered rẹ in legit businesses.

Some people know you are laundering money but they seem not to know and instead let you continue to launder money. And you as the perpetrator, may give something to the people around you under the pretext that it is a gift from you to them. Money laundering cases, if traced, will surely drag a lot of people around the perpetrators and these perpetrators are very smart to hide it from others. I think it is natural that people still refer to gambling sites as money laundering places because that has been the case for a long time and there are many more strategic places that might use to do money laundering.

[fzkto]

I am sure that many online casinos are laundering dirty money and some are even set up to legalise profits. It seems to me that verification and KYC will not save a gambler in case of legal problems if the casino was laundering money and the gambler is under suspicion. In that case the personal data would immediately be given to the police. By the way, along with money laundering, casinos can also collect personal data.

[Bitinity]

So, what do you say, does crypto casinos really care about money laundering?

They do care imo, proven by the fact that most casino has AML policy although in the reality we do not really how effective is this policy against Money Laundering or how far casino cares about money laundering. However I do believe licensed/regulated casinos cares about money laundering because if they ignore it, it can be something bad for their gambling business.

[yazher]

I am sure that many online casinos are laundering dirty money and some are even set up to legalise profits. It seems to me that verification and KYC will not save a gambler in case of legal problems if the casino was laundering money and the gambler is under suspicion. In that case the personal data would immediately be given to the police. By the way, along with money laundering, casinos can also collect personal data.

That's why it's really hard to entrust our identity to these platforms because of the risks that we need to consider when we submitted our personal data. When it comes to money laundering, there are lots of reasons why people are doing it and it's really not a good thing when you are accused of doing it while just playing because your personal data has been switched by the casino owners. You gonna spend some days in jail while waiting for your trial which does not really guarantee that you were guilty. This is one of the reasons why it is really hard to take the risk of sending them your data.

[molsewid]

So, what do you say, does crypto casinos really care about money laundering?

They do care imo, proven by the fact that most casino has AML policy although in the reality we do not really how effective is this policy against Money Laundering or how far casino cares about money laundering. However I do believe licensed/regulated casinos cares about money laundering because if they ignore it, it can be something bad for their gambling business.

Yes I agree, casinos also protects their name especially if that would be against the law. Here in my country , government is very strict with AML . Even when you are just withdrawing money if you will be beyond the limit per day , you will receive a call from the bank and you will be one to get red flags, casinos have their own attorney of course and they knew this thing.

[fzkto]

I am sure that many online casinos are laundering dirty money and some are even set up to legalise profits. It seems to me that verification and KYC will not save a gambler in case of legal problems if the casino was laundering money and the gambler is under suspicion. In that case the personal data would immediately be given to the police. By the way, along with money laundering, casinos can also collect personal data.

That's why it's really hard to entrust our identity to these platforms because of the risks that we need to consider when we submitted our personal data. When it comes to money laundering, there are lots of reasons why people are doing it and it's really not a good thing when you are accused of doing it while just playing because your personal data has been switched by the casino owners. You gonna spend some days in jail while waiting for your trial which does not really guarantee that you were guilty. This is one of the reasons why it is really hard to take the risk of sending them your data.

I think it's dangerous to submit personal data on any internet site at all. Even on verified websites. I don't know how many database leaks there have been at different casinos, but I've had enough of the leak that happened at Binance. By the way I'm more than sure that more exchanges than casinos are involved in money laundering. Casinos are more likely to be suitable for small time scammers.

[Boristhecat]

I am sure that many online casinos are laundering dirty money and some are even set up to legalise profits. It seems to me that verification and KYC will not save a gambler in case of legal problems if the casino was laundering money and the gambler is under suspicion. In that case the personal data would immediately be given to the police. By the way, along with money laundering, casinos can also collect personal data.

It seems to me that the casino is far from being an ideal place for money laundering. If this is an illegal casino, then the money that the player "laundered" there actually remains dirty. If this is a legal casino, then in accordance with the AML procedures and the applied KYC, the player's transaction history remains open to the tax office and the police, so it makes no sense for him to use such a legal casino. Maybe it works for small amounts that no one pays attention to, but with large amounts of money it is definitely not an option.

[lionheart78]

I also accept it that KYC is possibly needed on online casinos in order to help fight money laundering. But for someone to say that casinos should check all its players source of funds is too private and you also said it is too much.

It helped but it can easily get bypassed by the money launderer worst case scenario is when a casino is also involved in laundering money and KYC is just for a show. I think the best application of KYC is to combat cheaters and fraudster that exploits the casino via multiple accounting.

In your own experiences in a physical casino, did they asked for a KYC? Asking for an ID without taking a copy of it is not KYC. It appears that international money laundering is a very big issue but local money laundering is not that kind of a big deal. It varies from places to places but I just shared my opinion that it is not strict on physical casinos.

Physical Casino never asked for KYC as far as I can remember.  They only look for an ID if the person looks like a minor else, if they look like an adult, anyone can enter and play.

It seems to me that the casino is far from being an ideal place for money laundering. If this is an illegal casino, then the money that the player "laundered" there actually remains dirty. If this is a legal casino, then in accordance with the AML procedures and the applied KYC, the player's transaction history remains open to the tax office and the police, so it makes no sense for him to use such a legal casino. Maybe it works for small amounts that no one pays attention to, but with large amounts of money it is definitely not an option.

I don't think so, casino is ideal for money laundering, there are legal Casinos that were charged of being accomplished of money laundering.  You can check @serjent05's reply giving an example of casino that was charged with money laundering.  I also think it is the best place besides exchanges to wash the history of cryptocurrency.

[Oilacris]

Money laundering is common and if they've decided to let others pass then they do know the risk once they've being caught thats why it wouldnt really be that rampant
or just simply on rare occasions on some point.

That's right if they still want to run smoothly without any obstacles from the authorized parties, usually, they must follow what is directed by the parties, and of course, we all understand what it is.
Regarding money laundering, for them as long as they get a lot of profit and their business continues to run in a threat, this is like a symbiosis of mutualism. And usually, they will protect each other so it will be very difficult to prove even if we can understand if there is money laundering. Especially if the business of the business is a strong party, never mind, we as the community only understand the situation.

I agree into that symbiosis of mutualism which is totally that on point and since this is business then it would be understandable that there would really be those kind of exemption but of course on a

controlled manner on which government or regulators wont notice it out.Its impossible that they would really be that too strict when it comes to that since they do know on the possible benefit.
As users which we are the ones who are mainly been affected on this one then it would be understandable that there would be some verification specially into those
people who do make out huge deposits.

[Boristhecat]

It seems to me that the casino is far from being an ideal place for money laundering. If this is an illegal casino, then the money that the player "laundered" there actually remains dirty. If this is a legal casino, then in accordance with the AML procedures and the applied KYC, the player's transaction history remains open to the tax office and the police, so it makes no sense for him to use such a legal casino. Maybe it works for small amounts that no one pays attention to, but with large amounts of money it is definitely not an option.

I don't think so, casino is ideal for money laundering, there are legal Casinos that were charged of being accomplished of money laundering.  You can check @serjent05's reply giving an example of casino that was charged with money laundering.  I also think it is the best place besides exchanges to wash the history of cryptocurrency.

I looked at his examples, but why do you consider them good cases if in the end those who laundered the money were caught? And as for his examples regarding the fact that the casino is defrauding petty money launderers ... is that also good? It seems to me that all this suggests that the casino is a very dangerous place for money laundering. And tell me, which position looks better "I have a lot of money because I win it at the casino" or "I have a lot of money because I'm in business" or even "I have a lot of money because I'm a popular streamer"? I think the casino option looks the worst.

[Daltonik]

So, what do you say, does crypto casinos really care about money laundering?

Yes, of course, the KYC requirement on the part of online casinos is not sufficient to counter money laundering, but also in many casinos there is a requirement for a large win to provide documents confirming the legality of the origin of funds on your deposit.

[Cling18]

So, what do you say, does crypto casinos really care about money laundering?

Yes, of course, the KYC requirement on the part of online casinos is not sufficient to counter money laundering, but also in many casinos, there is a requirement for a large win to provide documents confirming the legality of the origin of funds on your deposit.

Many gamblers might hate KYC but if they will only know its positive impact on their security as well as the protection of the casino against money laundering, they will appreciate its importance. Launderers are using casino sites as an escape from their crime so casinos are also trying to be careful.

[LUCKMCFLY]

So, what do you say, does crypto casinos really care about money laundering?

Yes, of course, the KYC requirement on the part of online casinos is not sufficient to counter money laundering, but also in many casinos, there is a requirement for a large win to provide documents confirming the legality of the origin of funds on your deposit.

Many gamblers might hate KYC but if they will only know its positive impact on their security as well as the protection of the casino against money laundering, they will appreciate its importance. Launderers are using casino sites as an escape from their crime so casinos are also trying to be careful.

What happens is that it is a sensitive issue, obviously it is as the colleague has said, to some casinos that are highly reputable and very trustworthy if they care about money laundering and therefore use KYC, but it is well known that some casinos that are mostly relatively new, can be in this business camouflaged by the platform and take advantage of a large number of people and players who are very active in the game, so all these things are sometimes good for KYC, but at their Sometimes it is risky, because an apparent KYC can reveal everything about a person and make them even try on their life and leave them there on a silver platter to extort them or any kind of thing.

[Jawhead999]

What happens is that it is a sensitive issue, obviously it is as the colleague has said, to some casinos that are highly reputable and very trustworthy if they care about money laundering and therefore use KYC, but it is well known that some casinos that are mostly relatively new, can be in this business camouflaged by the platform and take advantage of a large number of people and players who are very active in the game, so all these things are sometimes good for KYC, but at their Sometimes it is risky, because an apparent KYC can reveal everything about a person and make them even try on their life and leave them there on a silver platter to extort them or any kind of thing.

Actually no one force you to play on new casinos why we need to play on new casinos when we already know the trusted and reputable casinos that operated until now? it's similar like centralized exchanges. I didn't want to touch any new casinos even though they have an interesting promotion or high bonus because any sites can offer to good to be true, but only few sites are reputable and don't lying to their customers.

I still stick with my old casinos and I never regret with my decision until now.

[mdzahed134]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

I disagree about checking the source of funds. It is a private area. How can a crypto casino evaluate and learn someone's source of funds? It violates people's rights. I simply avoid joining the casino if they force me to show my source of funds. It is too much!!!

Are we going to ignore that land based casinos are not even asking for its gamblers KYC? There are some casinos that need an ID before people can enter. But that's it, they don't photocopy the ID for for their copy. Most casinos I entered do not require ID. You can easily enter as long as you don't look like a criminal or beggar.

What casinos you are talking about? Online casinos or physical casinos?
If land-based casinos don't require visitors for KYC, do you think it should be applied to online-based casinos as well?
In my opinion, each casino may have different regulations, we can't expect them to have the same rules about KYC.

In your own experiences in a physical casino, did they asked for a KYC? Asking for an ID without taking a copy of it is not KYC. It appears that international money laundering is a very big issue but local money laundering is not that kind of a big deal. It varies from places to places but I just shared my opinion that it is not strict on physical casinos.

I have no experienced in physical casinos, but i heard from my a few friends who's played physical casinos, where if you want to bet with big amount of money then casino teams will ask KYC & others documents. So, it’s depend on the countries, local physical casinos is also strict in my country.

[EarnOnVictor]

So, what do you say, does crypto casinos really care about money laundering?

Yes, of course, the KYC requirement on the part of online casinos is not sufficient to counter money laundering, but also in many casinos, there is a requirement for a large win to provide documents confirming the legality of the origin of funds on your deposit.

Many gamblers might hate KYC but if they will only know its positive impact on their security as well as the protection of the casino against money laundering, they will appreciate its importance. Launderers are using casino sites as an escape from their crime so casinos are also trying to be careful.

What happens is that it is a sensitive issue, obviously it is as the colleague has said, to some casinos that are highly reputable and very trustworthy if they care about money laundering and therefore use KYC, but it is well known that some casinos that are mostly relatively new, can be in this business camouflaged by the platform and take advantage of a large number of people and players who are very active in the game, so all these things are sometimes good for KYC, but at their Sometimes it is risky, because an apparent KYC can reveal everything about a person and make them even try on their life and leave them there on a silver platter to extort them or any kind of thing.

You have good points, but I won't be among the people that will buy the cheap reputation that casinos are making some people believe. There are fraudulent casinos that will collect your KYC, but they are still cheating/scamming people. While there are some of them that would involve in money laundering as they have their links but would be pretending they are running a legit business.

It is easy for casinos to cheat because they have the system, but difficult for a player to cheat/launder money if deposits are sent back to their originating account.

 

[KennyR]

KYC is not enough for crypto casinos? Crypto casinos should check all its players source of funds?

I disagree about checking the source of funds. It is a private area. How can a crypto casino evaluate and learn someone's source of funds? It violates people's rights. I simply avoid joining the casino if they force me to show my source of funds. It is too much!!!

Are we going to ignore that land based casinos are not even asking for its gamblers KYC? There are some casinos that need an ID before people can enter. But that's it, they don't photocopy the ID for for their copy. Most casinos I entered do not require ID. You can easily enter as long as you don't look like a criminal or beggar.

What casinos you are talking about? Online casinos or physical casinos?
If land-based casinos don't require visitors for KYC, do you think it should be applied to online-based casinos as well?
In my opinion, each casino may have different regulations, we can't expect them to have the same rules about KYC.

In your own experiences in a physical casino, did they asked for a KYC? Asking for an ID without taking a copy of it is not KYC. It appears that international money laundering is a very big issue but local money laundering is not that kind of a big deal. It varies from places to places but I just shared my opinion that it is not strict on physical casinos.

I have no experienced in physical casinos, but i heard from my a few friends who's played physical casinos, where if you want to bet with big amount of money then casino teams will ask KYC & others documents. So, it’s depend on the countries, local physical casinos is also strict in my country.

Country to country the regulations will vary. According to gambling money laundering regulation from the gambling commission, anything above €2000 needs to have manual verification. This is the rule, but countries make changes according to their need. Maybe with cryptocurrency accepted platforms too this is applicable, but users won't show interest to use the respective platform if something likewise is made mandatory.

[kamvreto]

~snip~I have no experienced in physical casinos, but i heard from my a few friends who's played physical casinos, where if you want to bet with big amount of money then casino teams will ask KYC & others documents. So, it’s depend on the countries, local physical casinos is also strict in my country.

For countries that legalize gambling, of course, KYC for big bets must be done, but it also depends on each casino's regulations. Big bets on gambling will involve a lot of money and several parties so it can't be compared to small gambling or other small bets. this may enter at VVIP level and get special perks.
Because gambling in some countries is legal, the use of KYC rules will also minimize money laundering which of course will exist if not strictly regulated, many take advantage of loopholes in gambling to do money laundering. such as in online casinos used by many criminals, but some of them were caught and charged with money laundering.

[Boristhecat]

Actually no one force you to play on new casinos why we need to play on new casinos when we already know the trusted and reputable casinos that operated until now? it's similar like centralized exchanges. I didn't want to touch any new casinos even though they have an interesting promotion or high bonus because any sites can offer to good to be true, but only few sites are reputable and don't lying to their customers.

I still stick with my old casinos and I never regret with my decision until now.

Same. The casino is a very high-risk topic (not in the sense of gambling, but in the sense of the player-casino relationship), so if I find a suitable casino where everything suits me and there are no problems, then I will never even try other projects. Even if there are some temporary promotions, it is unlikely that this will make me take risks and just strain for the sake of insignificant (compared to the comfort of playing in a trusted casino) bonuses.

[Jemzx00]

Actually no one force you to play on new casinos why we need to play on new casinos when we already know the trusted and reputable casinos that operated until now? it's similar like centralized exchanges. I didn't want to touch any new casinos even though they have an interesting promotion or high bonus because any sites can offer to good to be true, but only few sites are reputable and don't lying to their customers.

I still stick with my old casinos and I never regret with my decision until now.

Same. The casino is a very high-risk topic (not in the sense of gambling, but in the sense of the player-casino relationship), so if I find a suitable casino where everything suits me and there are no problems, then I will never even try other projects. Even if there are some temporary promotions, it is unlikely that this will make me take risks and just strain for the sake of insignificant (compared to the comfort of playing in a trusted casino) bonuses.

To be honest, I don't think there's much problem if you'll try other gambling platform as long as you think that those are reputable enough. I've been with multiple gambling platform and tried to gamble on some of them however I never tried to do any KYC to avoid any future conflict. Still, staying on just a few casinos is one of the best choices rather than sticking with multiple casinos.

[Japinat]

To be honest, I don't think there's much problem if you'll try other gambling platform as long as you think that those are reputable enough. I've been with multiple gambling platform and tried to gamble on some of them however I never tried to do any KYC to avoid any future conflict. Still, staying on just a few casinos is one of the best choices rather than sticking with multiple casinos.

Knowing the consequences of your actions is very important, with KYC information, you can easily be traced by the authorities or your data can be sold on the black market if the casino is not reputable, so at least know the risk. Actually, there are plenty of reputable casinos that do not require a KYC, not totally they won't but only when you pass the criteria, but for small-time gamblers, there should be no problem as we are only dealing with small amounts of money.

[Fivestar4everMVP]

So, what do you say, does crypto casinos really care about money laundering?

To be honest with you, if not for the law of the land, that is governments and their regulations, I don't think casinos will care, I personally, If I run a casino, I wouldn't care where the money wagered on my casino is coming from, what's my business with that as long as I am making my profit?

So personally, I think governmental laws and regulations is what has subjected majority of casinos into trying to put up a fight against serving money launders on their casino, outside this, I don't think casino really care.

[serjent05]

So, what do you say, does crypto casinos really care about money laundering?

To be honest with you, if not for the law of the land, that is governments and their regulations, I don't think casinos will care, I personally, If I run a casino, I wouldn't care where the money wagered on my casino is coming from, what's my business with that as long as I am making my profit?

Casino really doesn't care until the government pressure them.  Huge wager clients is a good news for crypto casinos as long as they loses and doesn't care about the money laundering at all, but if these huge bettors wins then the casino is now concern with money laundering and will ask this player KYC of all sort  .

So personally, I think governmental laws and regulations is what has subjected majority of casinos into trying to put up a fight against serving money launders on their casino, outside this, I don't think casino really care.

Indeed, it is the government pressure that makes a casino concern about money laundering aside from that, I also think casino would rather let his player play in peace.

[Maestro75]

But as long as the casino noticed the money is laundered, it would be seized.

What if the laundered cash is from someone the casino knows and is trying to cover. Do you think it will be seized? That will not happen. Or you think casinos do not hide criminals? Forget the AML and KYC thing that goes on that make us think everyone is documented, not so. There will be few exceptions of people who gamble at the casinos but do not pass through all that eventhough there is AML in their TOS. There is often a back door to every situation and those who know it will exploit it.

[Oshosondy]

What if the laundered cash is from someone the casino knows and is trying to cover. Do you think it will be seized? That will not happen. Or you think casinos do not hide criminals? Forget the AML and KYC thing that goes on that make us think everyone is documented, not so. There will be few exceptions of people who gamble at the casinos but do not pass through all that eventhough there is AML in their TOS. There is often a back door to every situation and those who know it will exploit it.

What I can say about this is that this world that we live in is not perfect. Politicians are the ones that are directing how a community should be, to be organized and make the community to survive, but politicians are one of the most corrupt people on earth. Because banks are following laws and regulations, that does not mean some bank managers and officials, even bank owners not to be corrupt. Most of the fiat money laundered are in banks. But what I will just tell you is that AML and KYC reduce online crime activities, nothing can completely eliminate online criminality.

[Little Mouse]

There's no doubt that casino is one of the best way whitening black money. Most of you possibly know that reserve money of Bangladesh was hacked from Federal Reserve Bank of New York. After they stole and withdraw the money, they used casino to bypass the trace.

Getting back to online casinos, yes, it's certainly something I would support casino to prevent. Casino must set team to investigate all deposits. Most of the casinos care about this of course and having a certain X wagering requirements before withdraw the deposit is part of preventing money laundering though it's alone can never prevent laundering at all.
And what's next once they confiscate a deposit, they must be ensured because some shady casinos use this as a weapon to confiscate fund and scam.

[blockman]

For countries that legalize gambling, of course, KYC for big bets must be done, but it also depends on each casino's regulations. Big bets on gambling will involve a lot of money and several parties so it can't be compared to small gambling or other small bets. this may enter at VVIP level and get special perks.

And as they're permitted by that country, it is expected that they're going to require KYC for their customers. But if that country doesn't have that any certain ruling about online gambling as they're neutral, so basically there's no need for them to comply to that.
If they require their customers and ask for KYC, it's on them. That's the policy of the casino and players have to comply with that whether they like it or not when they've been asked.

[ethereumhunter]

But as long as the casino noticed the money is laundered, it would be seized.

What if the laundered cash is from someone the casino knows and is trying to cover. Do you think it will be seized? That will not happen. Or you think casinos do not hide criminals? Forget the AML and KYC thing that goes on that make us think everyone is documented, not so. There will be few exceptions of people who gamble at the casinos but do not pass through all that eventhough there is AML in their TOS. There is often a back door to every situation and those who know it will exploit it.

We don't know for sure but maybe they were the ones who carried out the illegal activities and were allowed to gamble at the casino. They were the exception to the people who played in the casino and it seemed they were the ones with big money.

For such things, we will never know and there seems to be some agreement between them. But the money launderer will know where they can use the money, even if that place is not a casino.

[Maestro75]

Politicians are the ones that are directing how a community should be, to be organized and make the community to survive, but politicians are one of the most corrupt people on earth.

Everyone is a politician. But when we talk of influencing decisions and policies we talk of those who do that as elected political representatives or office holder. Not every politician is in position of authority to influence things. And if you talk of corruption, there are people who are not actively involved in politics but who are more corrupt than those you think are corrupt. People act differently and I do not like to make assumptions on things I do not have facts for. Am not denying that politicians are corrupt but what can we say of those who help them steal like the civil servants?

[BobK71]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

It is not possible to investigate money laundering for a casino company. Moreover, if the casino companies start that investigation, they will have to face big loses in the casino business. That no one wants to do it. It would seem logical if the investigation was given to the Ministry of Finance or any other related organization. Otherwise it is never possible to reduce money laundering.

[EarnOnVictor]

Crypto casinos definitely care about Money Laundering as they are also casinos and are subject to enforce AML & KYC regulations to avoid penalties that can cripple their business. They may not make it too strict so as not to scare away some customers who may be wondering the importance of these details, but they must show a level of compliance to prevent being shut down by the people in charge of ensuring that AML & KYC RULES are enforced.

It is good to work with all the casinos that would take KYC and AML seriously, but are they truly doing this? They could be strict in your view pretending they are in compliance with a certain regulation because they need money to cease/steal for themselves. I hardly see a casino company with integrity, they are only covering up for a lot of illegality. Some of them are doing the money laundering, and they are helping others to do so if you could approach them with a good percentage.

Regardless of that, all I want from them is to get my withdrawal as and when due, they are free to do whatever they like.

[seoincorporation]

It is not possible to investigate money laundering for a casino company. Moreover, if the casino companies start that investigation, they will have to face big loses in the casino business. That no one wants to do it. It would seem logical if the investigation was given to the Ministry of Finance or any other related organization. Otherwise it is never possible to reduce money laundering.

If it's impossible for them, then why they have the KYC?

I don't think it's impossible for them, but what i think is there aren't interested at all, because if start a money laundering investigation means to lose some high rollers, then it isn't business at all for the house. That's why the best option for them is to keep those users and don't blame them for their illicit actions.

[mirakal]

It is not possible to investigate money laundering for a casino company. Moreover, if the casino companies start that investigation, they will have to face big loses in the casino business. That no one wants to do it. It would seem logical if the investigation was given to the Ministry of Finance or any other related organization. Otherwise it is never possible to reduce money laundering.

If it's impossible for them, they why they have the KYC?

I don't think it's impossible for them, but what i think is there aren't interested at all, because if start a money laundering investigation means to lose some high rollers, then it isn't business at all for the house. That's why the best option for them is to keep those users and don't blame them for their illicit actions.

KYC requirement is a mandate coming from the regulators, so if a casino is licensed, they have to implement that KYC as a basic requirement. When it comes to investigation, usually it's the authorities that will do a more thorough investigation and the role of the casino is just to provide the information to the authorities, or the anti-money laundering agency to be specific.

[dezoel]

What happens is that it is a sensitive issue, obviously it is as the colleague has said, to some casinos that are highly reputable and very trustworthy if they care about money laundering and therefore use KYC, but it is well known that some casinos that are mostly relatively new, can be in this business camouflaged by the platform and take advantage of a large number of people and players who are very active in the game, so all these things are sometimes good for KYC, but at their Sometimes it is risky, because an apparent KYC can reveal everything about a person and make them even try on their life and leave them there on a silver platter to extort them or any kind of thing.

Actually no one force you to play on new casinos why we need to play on new casinos when we already know the trusted and reputable casinos that operated until now? it's similar like centralized exchanges. I didn't want to touch any new casinos even though they have an interesting promotion or high bonus because any sites can offer to good to be true, but only few sites are reputable and don't lying to their customers.

I still stick with my old casinos and I never regret with my decision until now.

Some people can't just be contented on what they already have but they will try to look for more. We can't simply blame them because they are also supporting new and small businesses. Imagine if there are no people like them? I think all new businesses are going to fail.

There are no more opportunities for other people but only the existing business are only getting all the benefits. That doesn't sound right. You compare new casinos to centralized exchanges but I think you already know that there are traders who don't use popular cex'es but they still go on newer and unpopular ones because they have higher limits or they are less strict. The same thing can also be felt in newer casinos.

[Baofeng]

It is not possible to investigate money laundering for a casino company. Moreover, if the casino companies start that investigation, they will have to face big loses in the casino business. That no one wants to do it. It would seem logical if the investigation was given to the Ministry of Finance or any other related organization. Otherwise it is never possible to reduce money laundering.

If it's impossible for them, they why they have the KYC?

I don't think it's impossible for them, but what i think is there aren't interested at all, because if start a money laundering investigation means to lose some high rollers, then it isn't business at all for the house. That's why the best option for them is to keep those users and don't blame them for their illicit actions.

KYC requirement is a mandate coming from the regulators, so if a casino is licensed, they have to implement that KYC as a basic requirement. When it comes to investigation, usually it's the authorities that will do a more thorough investigation and the role of the casino is just to provide the information to the authorities, or the anti-money laundering agency to be specific.

And as far as I know, online casino's have their own fraud and investigation department that oversee everything, specially suspicious activities in their platform. So if they suspect something is not right, they may have to ask the mandated KYC and then start the investigation. And if they need the authorities or at least it has been flag down as a launderer, then they will have to work hand and hand with them and the agency will have finally decided if the person is indeed a criminal. At least that's how I see the process, so KYC is a must now.

[AmoreJaz]

It is not possible to investigate money laundering for a casino company. Moreover, if the casino companies start that investigation, they will have to face big loses in the casino business. That no one wants to do it. It would seem logical if the investigation was given to the Ministry of Finance or any other related organization. Otherwise it is never possible to reduce money laundering.

If it's impossible for them, they why they have the KYC?

I don't think it's impossible for them, but what i think is there aren't interested at all, because if start a money laundering investigation means to lose some high rollers, then it isn't business at all for the house. That's why the best option for them is to keep those users and don't blame them for their illicit actions.

KYC requirement is a mandate coming from the regulators, so if a casino is licensed, they have to implement that KYC as a basic requirement. When it comes to investigation, usually it's the authorities that will do a more thorough investigation and the role of the casino is just to provide the information to the authorities, or the anti-money laundering agency to be specific.

And as far as I know, online casino's have their own fraud and investigation department that oversee everything, specially suspicious activities in their platform. So if they suspect something is not right, they may have to ask the mandated KYC and then start the investigation. And if they need the authorities or at least it has been flag down as a launderer, then they will have to work hand and hand with them and the agency will have finally decided if the person is indeed a criminal. At least that's how I see the process, so KYC is a must now.

established casinos with license more then likely have their own security department. i don't think they won't have people for this if they are holding large sum of money. there are so many scammers, hackers and other fraudsters. if they will not get ahead of this game, they will be bankrupt in no time. and with kyc requirement, they need to keep this in mind even if some are not strictly implementing this to their players. if there's large amount of money, i am sure, this will create flag on their site. this may call for further investigation if it is not the winnings but deposit of the player

[carlfebz2]

It is not possible to investigate money laundering for a casino company. Moreover, if the casino companies start that investigation, they will have to face big loses in the casino business. That no one wants to do it. It would seem logical if the investigation was given to the Ministry of Finance or any other related organization. Otherwise it is never possible to reduce money laundering.

If it's impossible for them, they why they have the KYC?

I don't think it's impossible for them, but what i think is there aren't interested at all, because if start a money laundering investigation means to lose some high rollers, then it isn't business at all for the house. That's why the best option for them is to keep those users and don't blame them for their illicit actions.

KYC requirement is a mandate coming from the regulators, so if a casino is licensed, they have to implement that KYC as a basic requirement. When it comes to investigation, usually it's the authorities that will do a more thorough investigation and the role of the casino is just to provide the information to the authorities, or the anti-money laundering agency to be specific.

And as far as I know, online casino's have their own fraud and investigation department that oversee everything, specially suspicious activities in their platform. So if they suspect something is not right, they may have to ask the mandated KYC and then start the investigation. And if they need the authorities or at least it has been flag down as a launderer, then they will have to work hand and hand with them and the agency will have finally decided if the person is indeed a criminal. At least that's how I see the process, so KYC is a must now.

Its been earlier stated on terms and conditions specially in most casino platforms this is why whenever they do ask out some verification then automatically tells you had you have done something wrong.

Not all the times though that each of those decisions are precise or right this is why complaints cant really be 100% accurate but most of the times they are really that requiring some verification

and its indeed that they have investigation or monitoring team in regards about possible money laundering.They arent blind and not to notice everything.

[goinmerry]

And as far as I know, online casino's have their own fraud and investigation department that oversee everything, specially suspicious activities in their platform. So if they suspect something is not right, they may have to ask the mandated KYC and then start the investigation. And if they need the authorities or at least it has been flag down as a launderer, then they will have to work hand and hand with them and the agency will have finally decided if the person is indeed a criminal. At least that's how I see the process, so KYC is a must now.

KYC is one of their requirements once they saw an account triggering their system.

If we end up in that situation, and we want to continue playing on the site, or maybe our withdrawals are being held, there's no choice but to comply with KYC.

If after complying with the KYC and still, problems are still there, that's a different story now.

[Sarah Azhari]

If we end up in that situation, and we want to continue playing on the site, or maybe our withdrawals are being held, there's no choice but to comply with KYC.

If after complying with the KYC and still, problems are still there, that's a different story now.

so, the conclusion is hard to laundry the money using a casino because they will ask KYC if find something weird and big money in a transaction. So, a question is, if we use a bit, under $100 or minimum requirements withdraw and KYC, is they still asking it?, if not, that possible the money launderer will be gradual withdraw the money.

[traderethereum]

If we end up in that situation, and we want to continue playing on the site, or maybe our withdrawals are being held, there's no choice but to comply with KYC.

If after complying with the KYC and still, problems are still there, that's a different story now.

so, the conclusion is hard to laundry the money using a casino because they will ask KYC if find something weird and big money in a transaction. So, a question is, if we use a bit, under $100 or minimum requirements withdraw and KYC, is they still asking it?, if not, that possible the money launderer will be gradual withdraw the money.

If the problem is still going to persist, I think they should move to another less restrictive casino, especially when it comes to KYC.
If we spend a little money on gambling, the casino may not pay more attention because they will think that we are average gamblers who just want to play.
Unless we suddenly win a large prize and want to withdraw the winning money, the casino can ask us to do KYC immediately.
Those money launderers will look for places they can use to launder money.

[NewRanger]

If we end up in that situation, and we want to continue playing on the site, or maybe our withdrawals are being held, there's no choice but to comply with KYC.

If after complying with the KYC and still, problems are still there, that's a different story now.

so, the conclusion is hard to laundry the money using a casino because they will ask KYC if find something weird and big money in a transaction. So, a question is, if we use a bit, under $100 or minimum requirements withdraw and KYC, is they still asking it?, if not, that possible the money launderer will be gradual withdraw the money.

i think there is another solutioj for kyc , remember rich man could pay someone for doing anything. I heard alot rich man save their assets using their office boy name or someone else. Money laundry could do by various strategy, and casino could be one of them. Passing kyc in online could do with our friend name or someone.

[Strongkored]

If we end up in that situation, and we want to continue playing on the site, or maybe our withdrawals are being held, there's no choice but to comply with KYC.

If after complying with the KYC and still, problems are still there, that's a different story now.

so, the conclusion is hard to laundry the money using a casino because they will ask KYC if find something weird and big money in a transaction. So, a question is, if we use a bit, under $100 or minimum requirements withdraw and KYC, is they still asking it?, if not, that possible the money launderer will be gradual withdraw the money.

Actually there is another thing that makes it difficult to do money laundering at the casino, there is wager requirements, casinos are not like exchanges where after making a deposit without doing any activity you can make a withdrawal, there are obligations that players must fulfill before making withdrawals and when players fulfill these obligations there are two things that can be obtained make the funds increase or decrease even to zero because they lose.
If the Casino has required KYC regardless of the withdrawal then KYC will still be applied even if it is a small value unless it is the first withdrawal but most casinos do not require KYC unless there is something suspicious

[AicecreaME]

If we end up in that situation, and we want to continue playing on the site, or maybe our withdrawals are being held, there's no choice but to comply with KYC.

If after complying with the KYC and still, problems are still there, that's a different story now.

so, the conclusion is hard to laundry the money using a casino because they will ask KYC if find something weird and big money in a transaction. So, a question is, if we use a bit, under $100 or minimum requirements withdraw and KYC, is they still asking it?, if not, that possible the money launderer will be gradual withdraw the money.

i think there is another solutioj for kyc , remember rich man could pay someone for doing anything. I heard alot rich man save their assets using their office boy name or someone else. Money laundry could do by various strategy, and casino could be one of them. Passing kyc in online could do with our friend name or someone.

This has a probability to happen. If someone is determined to launder money, he will definitely find a way to do so. After all, if they initially have the money to launder, they sure have other resources to find their way out such as paying someone or bribing the platform itself.

Assuming a person is rich enough to launder money and has the power, laundering money will be an easy task. Avoiding taxes is one of the reasons why they do it. Another thing would be non-declaration of money source. Using another identity to put up an account for your funds could be an option. Just like you said, they can easily hire someone to open up an account for them and place all the money there without other people they know of, being suspectful of them. They can also make a ghost account using other people's identity by infiltrating the system or bribing the people working there to manipulate or make an account readily available for them. There are really so many ways to launder money in different platforms if you just have enough means. Which is why the security should be tightened, in general, to determine these kinds of illegal activities. KYC is one thing, and they should probably add other security measures to ensure that the casino is safe and is not tolerating fraudsters. This will be a minus points for those who don't like KYC, but it's becoming more and more needed these days which is why I can't really blame the government for regulation since there are many unusual activities happening in some platforms involving finances.

[TheGreatPython]

What if the laundered cash is from someone the casino knows and is trying to cover. Do you think it will be seized? That will not happen. Or you think casinos do not hide criminals? Forget the AML and KYC thing that goes on that make us think everyone is documented, not so. There will be few exceptions of people who gamble at the casinos but do not pass through all that eventhough there is AML in their TOS. There is often a back door to every situation and those who know it will exploit it.

What I can say about this is that this world that we live in is not perfect. Politicians are the ones that are directing how a community should be, to be organized and make the community to survive, but politicians are one of the most corrupt people on earth. Because banks are following laws and regulations, that does not mean some bank managers and officials, even bank owners not to be corrupt. Most of the fiat money laundered are in banks. But what I will just tell you is that AML and KYC reduce online crime activities, nothing can completely eliminate online criminality.

I think some police are also corrupt so even if we say they caught a money launderer, those police can demand them a good amount of money for them to be released in the cell or they won't be arrested at all. Indeed that the world we are living is not perfect but at least not all are like that. We are thankful that some of them chooses to be good and choose their dignity.

In terms of online casino, I think the ones that will do that are the casinos which are not trusted but casinos that are the top are already earning huge so they won't receive bribes anymore only to allow criminals to launder money on their platform because they are afraid that someone will know this negotiation or the criminals themselves are the ones who will expose them.

[swogerino]

What if the laundered cash is from someone the casino knows and is trying to cover. Do you think it will be seized? That will not happen. Or you think casinos do not hide criminals? Forget the AML and KYC thing that goes on that make us think everyone is documented, not so. There will be few exceptions of people who gamble at the casinos but do not pass through all that eventhough there is AML in their TOS. There is often a back door to every situation and those who know it will exploit it.

What I can say about this is that this world that we live in is not perfect. Politicians are the ones that are directing how a community should be, to be organized and make the community to survive, but politicians are one of the most corrupt people on earth. Because banks are following laws and regulations, that does not mean some bank managers and officials, even bank owners not to be corrupt. Most of the fiat money laundered are in banks. But what I will just tell you is that AML and KYC reduce online crime activities, nothing can completely eliminate online criminality.

I think some police are also corrupt so even if we say they caught a money launderer, those police can demand them a good amount of money for them to be released in the cell or they won't be arrested at all. Indeed that the world we are living is not perfect but at least not all are like that. We are thankful that some of them chooses to be good and choose their dignity.

In terms of online casino, I think the ones that will do that are the casinos which are not trusted but casinos that are the top are already earning huge so they won't receive bribes anymore only to allow criminals to launder money on their platform because they are afraid that someone will know this negotiation or the criminals themselves are the ones who will expose them.

That is the case almost every day in the world where corruption after the pandemic and the war going on is on the rise.Luckily this won't happen in huge trusted online casinos as they make huge amount of money by the gamblers who happen to be whales and who are gambling huge amounts there.These very gamblers are subject to declare their funds where do they come from in the beginning as per the terms and conditions of a lot of trusted casinos online.Certain casinos have even a clause that says that if you are unable to verify your source of the funds we may as well keep them frozen until you do.This is in place to stop any cheater,scammer or money launderer to refrain from using casinos to launder their money.

[Mauser]

This has a probability to happen. If someone is determined to launder money, he will definitely find a way to do so. After all, if they initially have the money to launder, they sure have other resources to find their way out such as paying someone or bribing the platform itself.

Assuming a person is rich enough to launder money and has the power, laundering money will be an easy task. Avoiding taxes is one of the reasons why they do it. Another thing would be non-declaration of money source. Using another identity to put up an account for your funds could be an option. Just like you said, they can easily hire someone to open up an account for them and place all the money there without other people they know of, being suspectful of them. They can also make a ghost account using other people's identity by infiltrating the system or bribing the people working there to manipulate or make an account readily available for them. There are really so many ways to launder money in different platforms if you just have enough means. Which is why the security should be tightened, in general, to determine these kinds of illegal activities. KYC is one thing, and they should probably add other security measures to ensure that the casino is safe and is not tolerating fraudsters. This will be a minus points for those who don't like KYC, but it's becoming more and more needed these days which is why I can't really blame the government for regulation since there are many unusual activities happening in some platforms involving finances.

I am not really experienced when it comes to money laundering, but I know it's a big issue in some countries and it gives a bad feeling to the online gambling industry. That's why it's good if casinos want to be more save and include KYC on their website. With it they are not only protecting themselves but also making seem gambling more trustworthy. Of course KYC is not going to get rid of money laundering, there are too many ways around it. Like you said people will just pay someone else to open an account for them and use their name. I would expect that all the criminals with large amounts are using other people and identities to launder their money. Once you get enough money you want the freedom to use it, having a clean name without any limitations is the main goal. For a casino to prevent that it's very hard. The other way through bribery seems easier preventable. Communications online are so easy to save, even when done through messenger apps. And it's not only the communications that can be found also large sums of money being transferred to employees of the casinos will be a red flag. Once a big bribe scandal comes out the brand name of the casino will be ruined and it becomes very difficult for a casino to not lose all it customers quickly.

[Boristhecat]

But as long as the casino noticed the money is laundered, it would be seized.

What if the laundered cash is from someone the casino knows and is trying to cover. Do you think it will be seized? That will not happen. Or you think casinos do not hide criminals? Forget the AML and KYC thing that goes on that make us think everyone is documented, not so. There will be few exceptions of people who gamble at the casinos but do not pass through all that eventhough there is AML in their TOS. There is often a back door to every situation and those who know it will exploit it.

Blockchain documents everything by default. And regardless of whether the casino knows the client and how important he is to them, if he uses dirty money, they will be blocked, and information from transactions will go to the police. Do you think casino owners are so stupid to risk all their business (and maybe even freedom) for someone to use the "loopholes" in their casino? I am sure that no owner will take such risks, only if the casino was originally created for money laundering, then maybe.

[Slow death]

If we end up in that situation, and we want to continue playing on the site, or maybe our withdrawals are being held, there's no choice but to comply with KYC.

If after complying with the KYC and still, problems are still there, that's a different story now.

so, the conclusion is hard to laundry the money using a casino because they will ask KYC if find something weird and big money in a transaction. So, a question is, if we use a bit, under $100 or minimum requirements withdraw and KYC, is they still asking it?, if not, that possible the money launderer will be gradual withdraw the money.

small transactions like 100$ hardly lead to the casino asking for KYC, the criminal money launderers make big deposits because they don't have time to wait too long to launder the dirty money. probably criminals make deposits of something like 20 btc and then make a lot of bets and then lose or win and withdraw everything from the casino and repeat the same process again, and in this sense that casinos start paying attention to the person who made a deposit of 20 BTC and what is his behavior in the game, if he would be betting randomly because he doesn't mind losing or winning and then withdrawing to make it look like the money he has comes from the casino, the casino team takes all of that into consideration. it's just that in this process there are many casinos that are reporting abuse, they close people's accounts because they saw suspicious activity but don't give details of what suspicious activities they are talking about

I don't think it's hard to launder money if the casino belongs to the right people. If you have a lot of money, you will have no problem making several online casinos where no one will make you go through identification. I don't think criminals will risk sending money to third party sites where they can lose it. KYC is probably needed for certain jurisdictions.

but creating an online casino is something difficult and how would the criminal manage to manage the online casino? And if he doesn't have customers, how would he launder money? would justify what if his casino has no customers? as crazy as it sounds, criminals send money to third-party sites, because it's rare cases where they ask for KYC

[Japinat]

So, what do you say, does crypto casinos really care about money laundering?

To be honest with you, if not for the law of the land, that is governments and their regulations, I don't think casinos will care, I personally, If I run a casino, I wouldn't care where the money wagered on my casino is coming from, what's my business with that as long as I am making my profit?

So personally, I think governmental laws and regulations is what has subjected majority of casinos into trying to put up a fight against serving money launders on their casino, outside this, I don't think casino really care.

That's correct. Casinos doesn't really care about that money laundering or if their platform is used for the same reason, it is the authorities who implented the law and put pressures to the casinos to enforce KYC. It is their own way to track the casino's clients and to know if they are laundering some money by using the platform. These casinos are just forced to do so because their license is on the line, that is what I think.

[rahmad2nd]

so, the conclusion is hard to laundry the money using a casino because they will ask KYC if find something weird and big money in a transaction. So, a question is, if we use a bit, under $100 or minimum requirements withdraw and KYC, is they still asking it?, if not, that possible the money launderer will be gradual withdraw the money.

I'm sure it won't work, because the way it works and the logic isn't as simple as you say.
imagine if the amount of money is 1000 times what you say, how long will it take to withdraw it. you can also apply it on some crypto exchanges, if the funds are suspected to be suspicious, then what will happen is that your account will be temporarily frozen.

Money laundering is not something foreign to all of us, there are many cases of money laundering involving large funds.
I'm not sure that online casinos are an option for money laundering, but if land-based casinos are possible, it can happen. and even then on the condition that it will involve many important people to smooth the disbursement.
Basically every online casino or exchange has procedures and regulations that deal with something that goes wrong like one of the examples we are discussing in this thread.

believe me, money laundering is not as easy as we discuss here. because it is an act that is strictly prohibited, contains great risks and criminal sanctions that will await, risking a reputation that has been pioneered.

[smartaction]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

[michellee]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

[mindrust]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

That's true but almost every player out there wants to play on a KYC-free casino. These KYC-free casino would become a target for them money launderers.

If a person comes to " KYC-free casino x" with 100 btc, what should the owner of that casino do? Seize the money? Report the guy to the FBI? Deny service? Or just ignore him?

This is a pretty delicate matter. A person with 100btc very well may be a clean dude.

[Plaguedeath]

That's true but almost every player out there wants to play on a KYC-free casino. These KYC-free casino would become a target for them money launderers.

If a person comes to " KYC-free casino x" with 100 btc, what should the owner of that casino do? Seize the money? Report the guy to the FBI? Deny service? Or just ignore him?

This is a pretty delicate matter. A person with 100btc very well may be a clean dude.

If that's happen, most of KYC free casino will terminated his account since there's no rules to ask his KYC to get his personal information. They don't have a rules about multi accounts, they don't have a rules about VPN, so they're really free to accept any gambler who want to play on their casino. If the representative ask the gamblers of his 100 BTC, it would be stupid for them since there's no fraudster who admit if he's a fraudster.

But of course there's will be a suspicious activity that can distinguish between an innocent gambler and a fraudster.

[348Judah]

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place.

But on a serious note should every huge transaction be termed for money laundering, this is just a common mentality that when it has to do with huge amount transaction then the AML is involved, is it that easy to scam ànd cart away funds, we have a good number of businessmen making their cool money without being dependent on any bank, exchange or government to save keep their money, they turn the money into assets they can easily convert into money when necessary.

Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

And despite all the KYC and AML investigations were they able to still find out the source to their money? they will rather ended up being bribed and die down the case at the long run, am not against the government agency for performing their role but are they actually accurate with their precision on money laundering?

[mirakal]

It is not possible to investigate money laundering for a casino company. Moreover, if the casino companies start that investigation, they will have to face big loses in the casino business. That no one wants to do it. It would seem logical if the investigation was given to the Ministry of Finance or any other related organization. Otherwise it is never possible to reduce money laundering.

If it's impossible for them, they why they have the KYC?

I don't think it's impossible for them, but what i think is there aren't interested at all, because if start a money laundering investigation means to lose some high rollers, then it isn't business at all for the house. That's why the best option for them is to keep those users and don't blame them for their illicit actions.

KYC requirement is a mandate coming from the regulators, so if a casino is licensed, they have to implement that KYC as a basic requirement. When it comes to investigation, usually it's the authorities that will do a more thorough investigation and the role of the casino is just to provide the information to the authorities, or the anti-money laundering agency to be specific.

And as far as I know, online casino's have their own fraud and investigation department that oversee everything, specially suspicious activities in their platform. So if they suspect something is not right, they may have to ask the mandated KYC and then start the investigation. And if they need the authorities or at least it has been flag down as a launderer, then they will have to work hand and hand with them and the agency will have finally decided if the person is indeed a criminal. At least that's how I see the process, so KYC is a must now.

That is also possible, however, there might be some few casinos out there who only had that kind of department who seeks justice themselves and commence their own investigation before flagging the authorities. The other case is that they won't exhaust some of their resources for that reason as it will be an expensive move for them and because they knew that it's the duties of the authorities and they are indeed getting paid for that particular role. Just my thought tho.

[Fortify]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

It depends how big they are but most of the professional operations that have been around for many years and have threads here are in actual fact very conscious about the risks of money laundering. They do not want it and they do not entertain it, because they can make enough legitimate money that they don't need it around. If they ever get discovered as having had a strategy that encourages or allows it and they are based in any reasonable country then it will eventually catch up to the staff or even owners. Money launderers are much more likely to be hanging around the plentiful mixer operations that exist out there, because that is their very purpose - however else they try to disguise their "service"

[Maestro75]

There is often a back door to every situation and those who know it will exploit it.

Blockchain documents everything by default. And regardless of whether the casino knows the client and how important he is to them, if he uses dirty money, they will be blocked, and information from transactions will go to the police.

What about the use of mixers. Will it also tell where the money is coming from? We know that mixers hide this things eventhough there are on the blockchain. So how is anyone going to trace it to its dirty source? Please explain this to me to understand.

[Quidat]

There is often a back door to every situation and those who know it will exploit it.

Blockchain documents everything by default. And regardless of whether the casino knows the client and how important he is to them, if he uses dirty money, they will be blocked, and information from transactions will go to the police.

What about the use of mixers. Will it also tell where the money is coming from? We know that mixers hide this things eventhough there are on the blockchain. So how is anyone going to trace it to its dirty source? Please explain this to me to understand.

Blocking isnt 100% to be precise and there's no way that casinos could really trace up on any deposits that they get unless if there are some incidents of hacking then it did really spread up on the news
or something a huge deposit and trying out to check its source then this is where they can possibly make some check because we know that they are regulated which means they are
also been monitored which it isnt really that surprising and not something new for these platforms to have these kind of monitoring.
Money laundering is always been a tied up issues on gambling sites or any platforms that involves big money.

[jossiel]

What about the use of mixers. Will it also tell where the money is coming from? We know that mixers hide this things eventhough there are on the blockchain. So how is anyone going to trace it to its dirty source? Please explain this to me to understand.

They can't distinguish that unless they've got an experiment and did on their own and got the sending address from their receiving address from the experiment through the use of a mixer.

What they can do is to block that address and if that's the only address that the mixer is using to send their mixed coins, they'll detect the source. However, that's not how mixers work and it's an unlikely situation to happen.

[smartaction]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

If they have a close relationship with the owner of that casino then it is possible for them to launder money through that platform and since the money launderers are very smart now maybe there are many who own each casino themselves and they launder money through their own casino and in different places.  Millions of dollars are smuggled

[BobK71]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

In this respect, KYC certainly the right direction. Anyone can't use the casino to launder as much money as they want. But those who join the casino are usually for the purpose of money laundering. They are thinking about how they can convert that money. That's why many prefer gambling or the casino site that don't require KYC.

[makishart]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

With KYC requirements to with draw big amounts of money and im also feeling doubt about that. I meant once you were able sending your money and then you will not able to withdraw it, it will become a problem for you. That's why mostly of hackers were using another tool like mixer or something else. I guess if mixer has played even more compared with the gambling sites. So many parties have no enough proof to prove if their statement was right now. I personally think this must not become a big problem for sure.
The fact that if these days people have so many ways to do that. They were having anon coin as alternative way too.

[smartaction]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

In this respect, KYC certainly the right direction. Anyone can't use the casino to launder as much money as they want. But those who join the casino are usually for the purpose of money laundering. They are thinking about how they can convert that money. That's why many prefer gambling or the casino site that don't require KYC.

If someone tries hard to do money laundering then he will definitely succeed because it is normal that the person doing money laundering will have huge amount of money so in today's world many things can be done based on money any money launderer can create his own casino site and  He can control his own casino site as he wants and launder money through that site, but he has to work hard for it.

[michellee]

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place.

But on a serious note should every huge transaction be termed for money laundering, this is just a common mentality that when it has to do with huge amount transaction then the AML is involved, is it that easy to scam ànd cart away funds, we have a good number of businessmen making their cool money without being dependent on any bank, exchange or government to save keep their money, they turn the money into assets they can easily convert into money when necessary.

Maybe the casino will allow large transactions from a gambler but of course, the casino will make sure that the transactions are clean from money laundering. If the gambler is not related to money laundering, they can withdraw the money without going through a vetting process. Undoubtedly, some entrepreneurs can make money from their businesses and use banks that will not bother them with such things. And they can also convert their assets into money when needed.

Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

And despite all the KYC and AML investigations were they able to still find out the source to their money? they will rather ended up being bribed and die down the case at the long run, am not against the government agency for performing their role but are they actually accurate with their precision on money laundering?

I think the government can have a hard time finding the source of their money because the money launderers are really good at hiding it. And if some government employees found out about the case, they would certainly be compensated for not speaking out and they could use them for the benefit of the money launderers.

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

If they have a close relationship with the owner of that casino then it is possible for them to launder money through that platform and since the money launderers are very smart now maybe there are many who own each casino themselves and they launder money through their own casino and in different places.  Millions of dollars are smuggled

Yes, I also thought that the money launderers could set up their own casinos to launder their money easily. They can also get permits from the local government to open casinos and attract government employees to work for them from behind the scenes. This will make it easier for them to launder their money because they already have relationships with government employees to protect their casinos. And other money launderers may also be using the casino to do the same, making even more of a clean government to investigate.

[smartaction]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

If they have a close relationship with the owner of that casino then it is possible for them to launder money through that platform and since the money launderers are very smart now maybe there are many who own each casino themselves and they launder money through their own casino and in different places.  Millions of dollars are smuggled

Yes, I also thought that the money launderers could set up their own casinos to launder their money easily. They can also get permits from the local government to open casinos and attract government employees to work for them from behind the scenes. This will make it easier for them to launder their money because they already have relationships with government employees to protect their casinos. And other money launderers may also be using the casino to do the same, making even more of a clean government to investigate.

Money launderers always have a good relationship with various government officials and banks and they also have a good relationship with the government because of which they can launder billions of money out of the country in various ways. If the government does not support them, they are easily caught.  But in countries where crimes like money laundering are committed, the government or powerful people of the ruling party are definitely involved and they give shelter to all the problems.

[yazher]

If someone tries hard to do money laundering then he will definitely succeed because it is normal that the person doing money laundering will have huge amount of money so in today's world many things can be done based on money any money launderer can create his own casino site and  He can control his own casino site as he wants and launder money through that site, but he has to work hard for it.

With money, you can hire some expert to do this stuff easily, and also they can hide the money very well without getting caught. the government already knows this stuff that's why nowadays they are putting heavy regulations on Crypto Casinos as they did in Bitcoin mixers to prevent people from laundering their money and using it for illegal activities as well. With this new idea added to the lists of cops, I'm sure those who do this stuff are considering making a plan B or thinking of another way to hide their actual amount of money.

[Maestro75]

What about the use of mixers. Will it also tell where the money is coming from? We know that mixers hide this things eventhough there are on the blockchain. So how is anyone going to trace it to its dirty source? Please explain this to me to understand.

They can't distinguish that unless they've got an experiment and did on their own and got the sending address from their receiving address from the experiment through the use of a mixer.

What they can do is to block that address and if that's the only address that the mixer is using to send their mixed coins, they'll detect the source. However, that's not how mixers work and it's an unlikely situation to happen.

Therefore it means that even casinos can not stop money laundering because those who want to launder money may have to use mixers, except the amateurs among them. Criminals know how to disguise and can wait a long time to see through their evil plans. Maybe with time government will have to start banning mixers if they find them culpable.

[Gyfts]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Casinos should do no such thing, both ethically nor legally. Having casinos investigate deposit sources is opening a can of worms.

It's the government's responsibility to stop criminal activity, ie money laundering, through the current regulatory infrastructure that already exists. The amount of information that the government already knows about your finances is palpable. It should not require casinos with foreign registration to begin keeping a database of KYC information, who are compelled to hand that information over to the government without any oversight. It certainly shouldn't require the casinos themselves to start opening inquiries, they're not investigators. I'm sure some of the more shady casinos would start to confiscate deposits using excuses related to internal investigations.

Doesn't even begin to cover jurisdiction concerns either. Which country's laws is a casino that's registered offshores required to comply with?

[Japinat]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

Of course, technologies to track these money launderers are still improving throughout each year because these guys are also getting smarter each and every year. Experience help them to evolve and evade the new technologies. Other than that, casinos and authorities are already tired in chasing these guys because they knew that money launderers keeps on outsmarting them, they are just patiently waiting for some mistakes that will reveal these guys in what they are doing before making a move.

[jossiel]

What about the use of mixers. Will it also tell where the money is coming from? We know that mixers hide this things eventhough there are on the blockchain. So how is anyone going to trace it to its dirty source? Please explain this to me to understand.

They can't distinguish that unless they've got an experiment and did on their own and got the sending address from their receiving address from the experiment through the use of a mixer.

What they can do is to block that address and if that's the only address that the mixer is using to send their mixed coins, they'll detect the source. However, that's not how mixers work and it's an unlikely situation to happen.

Therefore it means that even casinos can not stop money laundering because those who want to launder money may have to use mixers, except the amateurs among them. Criminals know how to disguise and can wait a long time to see through their evil plans. Maybe with time government will have to start banning mixers if they find them culpable.

But to give the idea, even a normal person and not a criminal wants to use these mixers just for the sake of his privacy.

Yeah, they can't stop money laundering but they can stop it entering into their platform and that's why they're very strict in implementing such policies that includes the kyc.

[smartaction]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

Of course, technologies to track these money launderers are still improving throughout each year because these guys are also getting smarter each and every year. Experience help them to evolve and evade the new technologies. Other than that, casinos and authorities are already tired in chasing these guys because they knew that money launderers keeps on outsmarting them, they are just patiently waiting for some mistakes that will reveal these guys in what they are doing before making a move.

Money launderers never wait based on a method.  They launder money in various ways.  And they are constantly getting smarter and coming up with different new ways, so gambling may be a way of money laundering but it doesn't work very well. They use other methods more than gambling sites to launder money

[michellee]

Money launderers always have a good relationship with various government officials and banks and they also have a good relationship with the government because of which they can launder billions of money out of the country in various ways. If the government does not support them, they are easily caught.  But in countries where crimes like money laundering are committed, the government or powerful people of the ruling party are definitely involved and they give shelter to all the problems.

Government officials involved with money launderers will try to pressure them by demanding compensation for covering up their illegal activities. If the money launderers own a casino, they can run it smoothly without fear of other officials. That is why the perpetrators of illegal activities always try to approach officials who can protect them in running their business. The money launderers also know how to please government officials and give all the officials wishes.

Of course, technologies to track these money launderers are still improving throughout each year because these guys are also getting smarter each and every year. Experience help them to evolve and evade the new technologies. Other than that, casinos and authorities are already tired in chasing these guys because they knew that money launderers keeps on outsmarting them, they are just patiently waiting for some mistakes that will reveal these guys in what they are doing before making a move.

Indeed, the technologies to track these money launderers continue to be developed to stop their business operations. However, it still can't stop most of their business because they always get help from people who work in the government. Only by having clean officials willing to work hard to stop it can catch the money launderer. But this is not enough because it requires support from other government parties and unfortunately, many of these officials are in money laundering circles so it is very difficult to catch them.

[SirLancelot]

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

There are so many ways to launder money, not only in a casino. A wise criminal will find the best way. Those who use a casino are I think have another purpose other than to launder money. Maybe they literally want to play a gambling? To have fun or to possibly increase the money that they deposit.

There are gambling sites which doesn't mandate a KYC and if the site blocks them upon withdrawal asking them to upload their KYC, I think they will use someone else identity. There are so many things that you can do if you have lots of money and you can easily get away with the crimes that you will be doing. This is the power of money.

[carlfebz2]

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

There are so many ways to launder money, not only in a casino. A wise criminal will find the best way. Those who use a casino are I think have another purpose other than to launder money. Maybe they literally want to play a gambling? To have fun or to possibly increase the money that they deposit.

There are gambling sites which doesn't mandate a KYC and if the site blocks them upon withdrawal asking them to upload their KYC, I think they will use someone else identity. There are so many things that you can do if you have lots of money and you can easily get away with the crimes that you will be doing. This is the power of money.

Cant really deny if we do really talk about having lots of money which you could really almost do everything where you could easily bypass out because you could really able to buy services and documents if you

wanted to and this world is really that highly appreciating and wants money where everything could really be that possible.People are really that just too focused on gambling field when it comes to money laundering

without tending to look into other angle which there are really other ways to launder money.You would really be expecting for government to go in every single one of them which they would
really be dealing up with those platforms or companies which are commonly attached on it.

[Japinat]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

Of course, technologies to track these money launderers are still improving throughout each year because these guys are also getting smarter each and every year. Experience help them to evolve and evade the new technologies. Other than that, casinos and authorities are already tired in chasing these guys because they knew that money launderers keeps on outsmarting them, they are just patiently waiting for some mistakes that will reveal these guys in what they are doing before making a move.

Money launderers never wait based on a method.  They launder money in various ways.  And they are constantly getting smarter and coming up with different new ways, so gambling may be a way of money laundering but it doesn't work very well. They use other methods more than gambling sites to launder money

Indeed, casinos and gambling houses aren't their only options where to launder their money just to keep it safe from authorities who are trying to track them down. We can't mention it all here because it's just too many to mention. Every year they found new ways and they have the right people who thinks of it.

[smartaction]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

Of course, technologies to track these money launderers are still improving throughout each year because these guys are also getting smarter each and every year. Experience help them to evolve and evade the new technologies. Other than that, casinos and authorities are already tired in chasing these guys because they knew that money launderers keeps on outsmarting them, they are just patiently waiting for some mistakes that will reveal these guys in what they are doing before making a move.

Money launderers never wait based on a method.  They launder money in various ways.  And they are constantly getting smarter and coming up with different new ways, so gambling may be a way of money laundering but it doesn't work very well. They use other methods more than gambling sites to launder money

Indeed, casinos and gambling houses aren't their only options where to launder their money just to keep it safe from authorities who are trying to track them down. We can't mention it all here because it's just too many to mention. Every year they found new ways and they have the right people who thinks of it.

Money laundering is never done by one person.  They have a group for money laundering and in that group many types of people are involved like government party influential people, big businessmen, many bankers, police etc. And they find different ways.  Even if it involves crypto.  Not so much associated with casinos

[deathcode]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I think of course implementing KYC in casinos isn't sure to stop money laundering completely.
because money launderers will always have many ways and methods to launder their money.
money laundering practices not only go through crypto casinos, they will split their money and put it into trades, properties, stocks and much more.
they will do various things by putting their money into small pieces and converting their proceeds into other assets.
which in the end they make as if the proceeds of crime are their property from legitimate business activities.

I think at least a few casinos that implement KYC will prevent and maybe be a little difficult for the money launderers.
and will also provide small pieces of information for the relevant investigators to point to the money launderers.

[Japinat]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

KYC can prevent money laundering cases, but money launderers are smart enough to move their funds from one place to another and know how much money they can spend in one place. Of course, they are so experienced in money laundering that it can make it difficult for casinos and other places of business to trace the source of that person's funds.

If there are customers who often play at the casino and spend very large sums of money and have a close relationship with the casino owner, it will make it easier for them to launder their money there because the casino owner will not suspect them.

Of course, technologies to track these money launderers are still improving throughout each year because these guys are also getting smarter each and every year. Experience help them to evolve and evade the new technologies. Other than that, casinos and authorities are already tired in chasing these guys because they knew that money launderers keeps on outsmarting them, they are just patiently waiting for some mistakes that will reveal these guys in what they are doing before making a move.

Money launderers never wait based on a method.  They launder money in various ways.  And they are constantly getting smarter and coming up with different new ways, so gambling may be a way of money laundering but it doesn't work very well. They use other methods more than gambling sites to launder money

Indeed, casinos and gambling houses aren't their only options where to launder their money just to keep it safe from authorities who are trying to track them down. We can't mention it all here because it's just too many to mention. Every year they found new ways and they have the right people who thinks of it.

Money laundering is never done by one person.  They have a group for money laundering and in that group many types of people are involved like government party influential people, big businessmen, many bankers, police etc. And they find different ways.  Even if it involves crypto.  Not so much associated with casinos

Couldn't agree more, money laundering is just their way to get their money clean from all the illegal activities they did behind the curtains, mostly, there is a big organization that we couldn't even imagine behind these things and those kinds of people you've mentioned are all connected and part of the big organization, if not, they are just under their payroll especially these high ranking police officers and government officials.

[ethereumhunter]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I think of course implementing KYC in casinos isn't sure to stop money laundering completely.
because money launderers will always have many ways and methods to launder their money.
money laundering practices not only go through crypto casinos, they will split their money and put it into trades, properties, stocks and much more.
they will do various things by putting their money into small pieces and converting their proceeds into other assets.
which in the end they make as if the proceeds of crime are their property from legitimate business activities.

I think at least a few casinos that implement KYC will prevent and maybe be a little difficult for the money launderers.
and will also provide small pieces of information for the relevant investigators to point to the money launderers.

But then again, the money launderers are not people who have just entered the money laundering business but must have had years of experience. So even if they are dealing with a casino that implements KYC, they will easily find another less restrictive casino so they can still run their business. This money laundering is like a business for them because they already have a place to use to launder money and maybe find a place to store their money safely. But crypto casinos are trying not to become a repository for money laundering proceeds and implementing KYC is one way to avoid that problem.

[Yatsan]

the only thing a casino would be concerned of money laundering is profit because it would allow more players to continue playing.

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I think of course implementing KYC in casinos isn't sure to stop money laundering completely.
because money launderers will always have many ways and methods to launder their money.
money laundering practices not only go through crypto casinos, they will split their money and put it into trades, properties, stocks and much more.
they will do various things by putting their money into small pieces and converting their proceeds into other assets.
which in the end they make as if the proceeds of crime are their property from legitimate business activities.

I think at least a few casinos that implement KYC will prevent and maybe be a little difficult for the money launderers.
and will also provide small pieces of information for the relevant investigators to point to the money launderers.

But then again, the money launderers are not people who have just entered the money laundering business but must have had years of experience. So even if they are dealing with a casino that implements KYC, they will easily find another less restrictive casino so they can still run their business. This money laundering is like a business for them because they already have a place to use to launder money and maybe find a place to store their money safely. But crypto casinos are trying not to become a repository for money laundering proceeds and implementing KYC is one way to avoid that problem.

An established casino won't allow risks to be that high especially for their assets. Money laundering won't close a deal with a small amount. Given that it would be expected to be huge, casinos would somehow ring a bell to secure what might be a loss on their end. Agreement will not be drafted and close without edges on both ends. KYC would be wuestioned on the other hand by the 'customers' so casinos would need to find a better way to aid suspiscion but being fair at the same time.

[BobK71]

Money laundering is never done by one person.  They have a group for money laundering and in that group many types of people are involved like government party influential people, big businessmen, many bankers, police etc. And they find different ways.  Even if it involves crypto.  Not so much associated with casinos

Here I agree with you. Nowadays money laundering is rapidly increasing by those who are high ranking government officials or big businessmen. Illegal money transfers happen to such people. It is more simply said that this tendency is higher among those who are making money illegally. Those involved in money laundering is usually pre-planned.

[TimeTeller]

Money laundering is never done by one person.  They have a group for money laundering and in that group many types of people are involved like government party influential people, big businessmen, many bankers, police etc. And they find different ways.  Even if it involves crypto.  Not so much associated with casinos

Here I agree with you. Nowadays money laundering is rapidly increasing by those who are high ranking government officials or big businessmen. Illegal money transfers happen to such people. It is more simply said that this tendency is higher among those who are making money illegally. Those involved in money laundering is usually pre-planned.

Money laundering will always be there, in every business not only in crypto.
So ML may be happening right now in casinos and other gambling websites.
But it depends on the casinos how they will tackle such fraudulent action as they have policies towards AML/KYC.
We can't totally avoid this to happen as launderers will always find a way how to wash their money.

[ethereumhunter]

the only thing a casino would be concerned of money laundering is profit because it would allow more players to continue playing.

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I think of course implementing KYC in casinos isn't sure to stop money laundering completely.
because money launderers will always have many ways and methods to launder their money.
money laundering practices not only go through crypto casinos, they will split their money and put it into trades, properties, stocks and much more.
they will do various things by putting their money into small pieces and converting their proceeds into other assets.
which in the end they make as if the proceeds of crime are their property from legitimate business activities.

I think at least a few casinos that implement KYC will prevent and maybe be a little difficult for the money launderers.
and will also provide small pieces of information for the relevant investigators to point to the money launderers.

But then again, the money launderers are not people who have just entered the money laundering business but must have had years of experience. So even if they are dealing with a casino that implements KYC, they will easily find another less restrictive casino so they can still run their business. This money laundering is like a business for them because they already have a place to use to launder money and maybe find a place to store their money safely. But crypto casinos are trying not to become a repository for money laundering proceeds and implementing KYC is one way to avoid that problem.

An established casino won't allow risks to be that high especially for their assets. Money laundering won't close a deal with a small amount. Given that it would be expected to be huge, casinos would somehow ring a bell to secure what might be a loss on their end. Agreement will not be drafted and close without edges on both ends. KYC would be wuestioned on the other hand by the 'customers' so casinos would need to find a better way to aid suspiscion but being fair at the same time.

If the casino is indirectly involved in money laundering, they will try to keep it tightly closed so that it is not visible to outsiders and few people know about the secret. This will be further covered if the casino owner also runs a money laundering business so that they will freely use their business and make money from other business results. But reputable casinos will not let this happen. They will always try to monitor every transaction in their business and ensure their casino is clean from money laundering.

[gunhell16]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Crypto casinos don't care, of course, they are in this business to make money not to concern anyone.

And not everyone who applies KYC to their crypto gambling platform can say that it is safe, other gambling platforms just use it as a tool to make other gamblers or players think that their site of gambling is safe. But I don't blame everyone, others can still be taken advantage of. That's why you still need to do your research to find out if a casino is legitimate.

[Japinat]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Crypto casinos don't care, of course, they are in this business to make money not to concern anyone.

And not everyone who applies KYC to their crypto gambling platform can say that it is safe, other gambling platforms just use it as a tool to make other gamblers or players think that their site of gambling is safe. But I don't blame everyone, others can still be taken advantage of. That's why you still need to do your research to find out if a casino is legitimate.

Yes, that is right! Online crypto casino's doesn't really care if some of their users are just looking a way to launder their money, that is not their concern anymore because they are just focused on their losses and profits. They are just requiring KYC because that is a direct order from the authorities as that is one of their requirements to have a license. But not all licensed and are asking KYC are safe, we shouldn't forget that because if there's an unfortunate situation where the casino is hacked then our identities are in a dangerous spot. Much better to find some reputable casinos because that is more worth the risk.

[LUCKMCFLY]

What happens is that it is a sensitive issue, obviously it is as the colleague has said, to some casinos that are highly reputable and very trustworthy if they care about money laundering and therefore use KYC, but it is well known that some casinos that are mostly relatively new, can be in this business camouflaged by the platform and take advantage of a large number of people and players who are very active in the game, so all these things are sometimes good for KYC, but at their Sometimes it is risky, because an apparent KYC can reveal everything about a person and make them even try on their life and leave them there on a silver platter to extort them or any kind of thing.

Actually no one force you to play on new casinos why we need to play on new casinos when we already know the trusted and reputable casinos that operated until now? it's similar like centralized exchanges. I didn't want to touch any new casinos even though they have an interesting promotion or high bonus because any sites can offer to good to be true, but only few sites are reputable and don't lying to their customers.

I still stick with my old casinos and I never regret with my decision until now.

Well, in fact, the casinos that I have always guided me a lot, they are the most reliable and in fact the most reliable, but as there are always new casinos I like to explore them, there are some that have many new and innovative things, that It is what I like to explore, therefore sometimes when they get very intense with their KYC requirement I do not like it, not because I have to give it, but because at the beginning of a casino I do not know if it will be reliable, with a good reputation Perhaps it happens to many that when they give their KYC or something, the casino ends up being a scam and the KYC filtering is something that can be dangerous.

the only thing a casino would be concerned of money laundering is profit because it would allow more players to continue playing.

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

I think of course implementing KYC in casinos isn't sure to stop money laundering completely.
because money launderers will always have many ways and methods to launder their money.
money laundering practices not only go through crypto casinos, they will split their money and put it into trades, properties, stocks and much more.
they will do various things by putting their money into small pieces and converting their proceeds into other assets.
which in the end they make as if the proceeds of crime are their property from legitimate business activities.

I think at least a few casinos that implement KYC will prevent and maybe be a little difficult for the money launderers.
and will also provide small pieces of information for the relevant investigators to point to the money launderers.

But then again, the money launderers are not people who have just entered the money laundering business but must have had years of experience. So even if they are dealing with a casino that implements KYC, they will easily find another less restrictive casino so they can still run their business. This money laundering is like a business for them because they already have a place to use to launder money and maybe find a place to store their money safely. But crypto casinos are trying not to become a repository for money laundering proceeds and implementing KYC is one way to avoid that problem.

An established casino won't allow risks to be that high especially for their assets. Money laundering won't close a deal with a small amount. Given that it would be expected to be huge, casinos would somehow ring a bell to secure what might be a loss on their end. Agreement will not be drafted and close without edges on both ends. KYC would be wuestioned on the other hand by the 'customers' so casinos would need to find a better way to aid suspiscion but being fair at the same time.

If the casino is indirectly involved in money laundering, they will try to keep it tightly closed so that it is not visible to outsiders and few people know about the secret. This will be further covered if the casino owner also runs a money laundering business so that they will freely use their business and make money from other business results. But reputable casinos will not let this happen. They will always try to monitor every transaction in their business and ensure their casino is clean from money laundering.

Well, whenever we think about money laundering and casinos, it comes to mind how easy it is for some to do this type of thing, but not with so much money, but let's say with money in a more moderate way, because it can be done deposits and play, lose and deposit again, and be able to have a low but high profile within the casino, because making a high deposit and wanting to withdraw it at once is already a reason for them to jump the security of it and retain it for being suspicious activity I think that to launder money in a casino is a practice that is not very viable, some already have other ways of laundering money, at least the governments do it in other ways.

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Crypto casinos don't care, of course, they are in this business to make money not to concern anyone.

And not everyone who applies KYC to their crypto gambling platform can say that it is safe, other gambling platforms just use it as a tool to make other gamblers or players think that their site of gambling is safe. But I don't blame everyone, others can still be taken advantage of. That's why you still need to do your research to find out if a casino is legitimate.

Well, the casinos care that they make money on their platforms, that they have a lot of traffic and that they can make the possible transactions to be able to have more activity in the casino, if I were the owner of a casino and I see that they make those deposits and play, I would rule out In any case, it is money laundering, however, if you see that there is suspicious activity, I would temporarily block the account to find out why it is doing this type of transaction or simply not block it, but send an email from support to verify that It is what happens, because it could be that he is a potential client and he is not given the proper treatment.

[terrific]

Crypto casinos don't care, of course, they are in this business to make money not to concern anyone.

And not everyone who applies KYC to their crypto gambling platform can say that it is safe, other gambling platforms just use it as a tool to make other gamblers or players think that their site of gambling is safe. But I don't blame everyone, others can still be taken advantage of. That's why you still need to do your research to find out if a casino is legitimate.

As a gambler, we can have that sense which is good to comply those documents they're asking and those that they don't.
If you're a long time gambler, you know what your right is and if you're okay to send them all of those documents they want.
We're free, if we don't like, choose another one and you're aware of yourself that you have never been engaged into money laundering and never will be.

[Reatim]

Crypto casinos don't care, of course, they are in this business to make money not to concern anyone.

And not everyone who applies KYC to their crypto gambling platform can say that it is safe, other gambling platforms just use it as a tool to make other gamblers or players think that their site of gambling is safe. But I don't blame everyone, others can still be taken advantage of. That's why you still need to do your research to find out if a casino is legitimate.

As a gambler, we can have that sense which is good to comply those documents they're asking and those that they don't.

senses is not that needed instead back grounding is what important , never play in site that has no assurance or those who are facing issues from players.

If you're a long time gambler, you know what your right is and if you're okay to send them all of those documents they want.

even you are new or old players but if the site asks you KYC before withdrawal , then you need nothing to do but to comply if you wanted to get your funds.

We're free, if we don't like, choose another one and you're aware of yourself that you have never been engaged into money laundering and never will be.

that's it. casino cannot force us to play in their site so meaning that you need to choose the most legit one.

[QueenVera]

So, what do you say, does crypto casinos really care about money laundering?

Your question if I'm not wrong is referring just to crypto casinos and not fiat casinos included, and I think cryptocurrency is decentralized and transactions can't be tracked, I believe crypto casinos only have the options of payments done through cryptos which implies that the transactions will be done through a wallet to the casino, hence the casinos wouldn't have the need to interrogate the deposit since it's also a win win strategy as well for them

I think Interrogation will be more possible and easier for fiat casinos since this transactions can easily be tracked and investigate.

[LUCKMCFLY]

As almost every casino has KYC system where kyc is required when someone invests huge money or wins huge amount.  In that case I don't think a crypto casino can be a big cause of money laundering.  Because if someone is doing money laundering there then his identity will be revealed due to KYC so I don't think anyone will choose crypto casino as a money laundering route.

There are so many ways to launder money, not only in a casino. A wise criminal will find the best way. Those who use a casino are I think have another purpose other than to launder money. Maybe they literally want to play a gambling? To have fun or to possibly increase the money that they deposit.

There are gambling sites which doesn't mandate a KYC and if the site blocks them upon withdrawal asking them to upload their KYC, I think they will use someone else identity. There are so many things that you can do if you have lots of money and you can easily get away with the crimes that you will be doing. This is the power of money.

Well as I have said on previous occasions, the biggest money launderers apart from drug traffickers are governments, and people who discover businesses in particular do not use casinos, a long time ago they told me about businesses with credit cards, and I wanted to pass them on because it belonged to people from some parts of the world who leave them and don't care, I refused once and for all, because no matter how much money a person has, they don't deserve to have it taken away or stolen, in fact I said that It was an illegal act and they told me that it was from the government, and I told them that I did not believe them, the government does not launder money that way, they have much bigger things to launder money, finally I asked them again and they told me that Those cards were given by a credit card generator, so things in the world do not go well for those who have good intentions, laundering money in a casino, is something that I do not see being used much either.

[irhact]

Crypto casinos don't care, of course, they are in this business to make money not to concern anyone.

The cryptocurency casino just like the market is unregulated as such nobody really cares about what's ongoing there until something very suspicious or bad happens then the government's will step in and any culprit found will be punished. Everybody knows crypto casino aren't much a thing yet and there getting their money through other means which laundering money is a major source of revenue. Casinos could also be engage in harvesting customers data and selling to interested buyers.
Gamblers aren't security alerted and the owners of this casino knows this, therefore they're free to do with customers data anything they want, all the gambler is after is making quick money through been lucky and been able to withdraw without hesitation.

[btc78]

Crypto casinos don't care, of course, they are in this business to make money not to concern anyone.

And not everyone who applies KYC to their crypto gambling platform can say that it is safe, other gambling platforms just use it as a tool to make other gamblers or players think that their site of gambling is safe. But I don't blame everyone, others can still be taken advantage of. That's why you still need to do your research to find out if a casino is legitimate.

As a gambler, we can have that sense which is good to comply those documents they're asking and those that they don't.

complying is our obligation because if we are a gambler we also knew that we have no power against  site rules and decision , if they ask for kyc then we must comply or else we are waving our money inside that site.

If you're a long time gambler, you know what your right is and if you're okay to send them all of those documents they want.
We're free, if we don't like, choose another one and you're aware of yourself that you have never been engaged into money laundering and never will be.

even if you are a long time gambler mate still your right is indeed correct but remember also that the gambling site has also rights to suspend or blocked our fund if we did not comply for what they are asking.

[QueenVera]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Casinos as we now are now basically classified into two which is the Fiat casino and the crypto casinos.
Cryptocurrency which is a decentralized firm of currency isn't monitored and shouldn't be monitored at the first place. Casinos have done enough already to have introduced KYC to help comb criminality and money laundering which it's obvious isn't really enough but has gone a long way to reduce the rate of criminality because humans are always smart enough to make a new way when one closes.
It would have been more easier to monitor and investigate some transactions in a casino if it was a fiat casino, but since it's crypto, I really don't see the ease of monitoring such transactions except for withdrawals and one might decide to withdraw it's money in bits rather than in bulk.

[Pamadar]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Casinos as we now are now basically classified into two which is the Fiat casino and the crypto casinos.
Cryptocurrency which is a decentralized firm of currency isn't monitored and shouldn't be monitored at the first place. Casinos have done enough already to have introduced KYC to help comb criminality and money laundering which it's obvious isn't really enough but has gone a long way to reduce the rate of criminality because humans are always smart enough to make a new way when one closes.
It would have been more easier to monitor and investigate some transactions in a casino if it was a fiat casino, but since it's crypto, I really don't see the ease of monitoring such transactions except for withdrawals and one might decide to withdraw it's money in bits rather than in bulk.

Smarter now, those who perform criminal act are also aware of changes around, even crypto casinos are making changes
in terms of securities, but criminals are adjusting to that change as well.

They understand the risk, so instead of withdrawing or depositing amount which can create suspicions
they will do it in a such way that there's nothing or like just a normal transaction to avoid gaining
attentions.

[erep]

Smarter now, those who perform criminal act are also aware of changes around, even crypto casinos are making changes
in terms of securities, but criminals are adjusting to that change as well.

They understand the risk, so instead of withdrawing or depositing amount which can create suspicions
they will do it in a such way that there's nothing or like just a normal transaction to avoid gaining
attentions.

They also understand the latest changes in regulations to avoid attention from money laundering and they are looking for weaknesses to be exploited to deposit some money for withdrawal to bank accounts from other people's identities, so it is very difficult to identify the main perpetrators of money laundering activities on gambling platforms even though there are requirements KYC but the team can only freeze assets but never find the main identity of the account owner.

[BobK71]

Smarter now, those who perform criminal act are also aware of changes around, even crypto casinos are making changes
in terms of securities, but criminals are adjusting to that change as well.

They understand the risk, so instead of withdrawing or depositing amount which can create suspicions
they will do it in a such way that there's nothing or like just a normal transaction to avoid gaining
attentions.

They also understand the latest changes in regulations to avoid attention from money laundering and they are looking for weaknesses to be exploited to deposit some money for withdrawal to bank accounts from other people's identities, so it is very difficult to identify the main perpetrators of money laundering activities on gambling platforms even though there are requirements KYC but the team can only freeze assets but never find the main identity of the account owner.

Those involved in money laundering are always looking for new avenues. Nowadays, a very easy way to do this is through gambling sites. But gambling sites are also very careful in this regard. KYC is made mandatory by many gambling sites. Also, if money laundering money is kept on gambling sites, freezing it is also a good initiative, I think that will discourage such criminals from depositing there. They must enter their KYC to withdraw the freezing amount. But some gambling sites are flexible in this regard for their profit which should never ‍acceptable.

[Poker Player]

Those involved in money laundering are always looking for new avenues. Nowadays, a very easy way to do this is through gambling sites. But gambling sites are also very careful in this regard. KYC is made mandatory by many gambling sites. Also, if money laundering money is kept on gambling sites, freezing it is also a good initiative, I think that will discourage such criminals from depositing there. They must enter their KYC to withdraw the freezing amount.

You left out one thing: wagering requirements. If a casino wants to avoid money laundering it is very easy with the wagering requirements that we can see in many ToS. That way no one will try to launder money with the casino because it will be too expensive.

But some gambling sites are flexible in this regard for their profit which should never ‍acceptable.

In this you are not right, what money do casinos make without KYC and wagering requirements? Whoever wants to lose track of his money only has to deposit and without wagering anything, withdraw. Deposits go to one address and the withdrawal comes from another address of the casino where the inputs are consolidated and which have no relation to the other. In fact, if the withdrawal is ordered shortly after the deposit, the deposited funds are still in the first direction without moving, thus losing track for an outside observer, and if you do not bet anything, the house does not win anything.

The reasons why a casino may not require KYC or wagering requirements in my opinion are twofold: the first is ideological and the second is to try to attract customers, who do not necessarily want to launder money but who want to gamble in the few remaining casinos without KYC.

[Pamadar]

Smarter now, those who perform criminal act are also aware of changes around, even crypto casinos are making changes
in terms of securities, but criminals are adjusting to that change as well.

They understand the risk, so instead of withdrawing or depositing amount which can create suspicions
they will do it in a such way that there's nothing or like just a normal transaction to avoid gaining
attentions.

They also understand the latest changes in regulations to avoid attention from money laundering and they are looking for weaknesses to be exploited to deposit some money for withdrawal to bank accounts from other people's identities, so it is very difficult to identify the main perpetrators of money laundering activities on gambling platforms even though there are requirements KYC but the team can only freeze assets but never find the main identity of the account owner.

Those involved in money laundering are always looking for new avenues. Nowadays, a very easy way to do this is through gambling sites. But gambling sites are also very careful in this regard. KYC is made mandatory by many gambling sites. Also, if money laundering money is kept on gambling sites, freezing it is also a good initiative, I think that will discourage such criminals from depositing there. They must enter their KYC to withdraw the freezing amount. But some gambling sites are flexible in this regard for their profit which should never ‍acceptable.

Yes, there are still alternatives which criminals are taking advantage, I like those site who freeze account so those who will try to use
this channel to launder money will be hesitant to proceed.

Nowadays, there are many gambling site who are asking for KYC, those who can't
provide will stop sending their money and will try to find other alternatives.

[Unsoldier]

Criminals may well launder money through casinos. To do this, they need to negotiate with the management of the gambling platform. It is risky, but money laundering through online casinos is a common way for those who are engaged in illegal activities. The management of gambling platforms receives a good income from such shady activities.

[Solosanz]

Criminals may well launder money through casinos. To do this, they need to negotiate with the management of the gambling platform. It is risky, but money laundering through online casinos is a common way for those who are engaged in illegal activities. The management of gambling platforms receives a good income from such shady activities.

Lol, can you name with casino has done that in this forum? it's hilarious how you can have thought like that.

The reason why centralized casinos has a money laundering rules is to avoid future problem, blockchain analysis can track where the transaction goes on since public blockchain can be visible to everyone. Also the other reason why the casino ask KYC is to make them know who's control the account and if the money is used for laundering, it can help the police to catch the criminals.

Build a casino is already profitable if you have decent gamblers, they don't need to help criminals to laundering dirty coins.

[jostorres]

Criminals may well launder money through casinos. To do this, they need to negotiate with the management of the gambling platform. It is risky, but money laundering through online casinos is a common way for those who are engaged in illegal activities. The management of gambling platforms receives a good income from such shady activities.

They need to negotiate if that casino requires a KYC. It's indeed risky not only for the side of the launderer because what if the casino fake them and they will agree but the launderer didn't know that they will be reported to the authorities later on? It's also risky for the side of the casino because what if the launderer get busted out somewhere?

Authorities will let them confess if who is their partner and the launder will say that name of that casino. A gambling business is already profitable so if I were them I won't risk their reputation for some extra money. Helping a criminal is also bad but they must only help to prevent this kind of act.

[EarnOnVictor]

Smarter now, those who perform criminal act are also aware of changes around, even crypto casinos are making changes
in terms of securities, but criminals are adjusting to that change as well.

They understand the risk, so instead of withdrawing or depositing amount which can create suspicions
they will do it in a such way that there's nothing or like just a normal transaction to avoid gaining
attentions.

They also understand the latest changes in regulations to avoid attention from money laundering and they are looking for weaknesses to be exploited to deposit some money for withdrawal to bank accounts from other people's identities, so it is very difficult to identify the main perpetrators of money laundering activities on gambling platforms even though there are requirements KYC but the team can only freeze assets but never find the main identity of the account owner.

Those involved in money laundering are always looking for new avenues. Nowadays, a very easy way to do this is through gambling sites. But gambling sites are also very careful in this regard. KYC is made mandatory by many gambling sites. Also, if money laundering money is kept on gambling sites, freezing it is also a good initiative, I think that will discourage such criminals from depositing there. They must enter their KYC to withdraw the freezing amount. But some gambling sites are flexible in this regard for their profit which should never ‍acceptable.

You guys are overrating the integrity of gambling sites, how many of them have that integrity? One thing I want you to know today is that most gambling sites are just making sure they take the KYC of their customers for personal gains, or to have excuses for blocking accounts, not that they are really serious about it. And perhaps, some would do that so that people would think they are serious and more legit, but it is a lie.

Regardless, as cryptocurrency is concerned, if they would truly fight money laundry, the only important thing for them to do is to process withdrawals back to the originating address. Don't be surprised that these companies are complacent in money laundering themselves.

[swogerino]

Criminals may well launder money through casinos. To do this, they need to negotiate with the management of the gambling platform. It is risky, but money laundering through online casinos is a common way for those who are engaged in illegal activities. The management of gambling platforms receives a good income from such shady activities.

I think money laundering if done is done through mixers more than is done in casinos although people may use casinos for small amounts which really is not considered money laundering.The casinos may serve a good purpose in making your coins anonymous as you can deposit to them through a wallet and receive money in a brand new wallet that you create and the tx id is different because the money is coming from a wallet of that casino,that is the maximum people can use casinos but criminals to launder money through them I find it hard to believe.

[ethereumhunter]

Criminals may well launder money through casinos. To do this, they need to negotiate with the management of the gambling platform. It is risky, but money laundering through online casinos is a common way for those who are engaged in illegal activities. The management of gambling platforms receives a good income from such shady activities.

They don't need to negotiate with platform management because they can do it directly in many casinos. Or they have a casino that has become their favorite place to launder their money at the casino so they can easily play gambling and launder their money without any investigation. And yes, the casinos do get a good income from this activity and this is probably why there are a lot of casinos out there that are still able to stay in business. It is not easy to find money launderers or even casinos that protect this activity, so the regulators need to work hard to find them.

[Sandra_hakeem]

We have alot of peeps that are basically into money laundering as you've said but, nobody really gives a f*** about where these guys get their money From; to some point, it's not even seen as something very important to follow up on serious investigations before they could let them place their bets....
AFAIK, they could just get an alliance with a certain casino, just to ensure thier safety during this illegal monetary services, So I'd say No. Casinos could sometimes be an avenue to launder 'em cash. I won't really attest that on every casino as some are really strict and would quickly go against any form of fraudulence.

Sandra 💇

[Mr. Magkaisa]

Couldn't agree more, money laundering is just their way to get their money clean from all the illegal activities they did behind the curtains, mostly, there is a big organization that we couldn't even imagine behind these things and those kinds of people you've mentioned are all connected and part of the big organization, if not, they are just under their payroll especially these high ranking police officers and government officials.

  - To all those who commented here in the thread section, you said that this is the exact reason why there is money laundering. this is accurate and correct for my understanding as well, only big syndicates or organizations can do such things in real life.

And the sad thing is that it cannot be denied that there are some government officials with high positions involved in this matter because of are corrupt politicians. This happens in different countries and as far as I know, there are others who have been caught in that kind of thing. The others avoid a large percentage of the tax because they engage in money laundering even though they know it is illegal, they still do it.

[Boristhecat]

I think money laundering if done is done through mixers more than is done in casinos although people may use casinos for small amounts which really is not considered money laundering.The casinos may serve a good purpose in making your coins anonymous as you can deposit to them through a wallet and receive money in a brand new wallet that you create and the tx id is different because the money is coming from a wallet of that casino,that is the maximum people can use casinos but criminals to launder money through them I find it hard to believe.

I think that the real money laundering is to ensure that the right person gets their hands on a completely legal fiat. "Winning" from the casino is still gray money, since you have to declare it and pay taxes (different conditions in different countries), so it seems to me that those who launder amounts of money at least a little more than small ones use other schemes.

[Slow death]

Smarter now, those who perform criminal act are also aware of changes around, even crypto casinos are making changes
in terms of securities, but criminals are adjusting to that change as well.

They understand the risk, so instead of withdrawing or depositing amount which can create suspicions
they will do it in a such way that there's nothing or like just a normal transaction to avoid gaining
attentions.

I wonder why some thief who steals a lot of bitcoins would want to risk depositing bitcoin in a casino to launder money when he can just use many mixer sites? it makes no sense, imagine that the scammers steal 20 BTC if he used a casino he would risk doing KYC and it would also take a long time for him to withdraw the bitcoin not to mention that it would no longer be 20 BTC because he would have to play in the casino and without a doubt who would lose a lot playing, so there is no advantage for thieves to use casinos to launder money, at least that is my opinion

Couldn't agree more, money laundering is just their way to get their money clean from all the illegal activities they did behind the curtains, mostly, there is a big organization that we couldn't even imagine behind these things and those kinds of people you've mentioned are all connected and part of the big organization, if not, they are just under their payroll especially these high ranking police officers and government officials.

  - To all those who commented here in the thread section, you said that this is the exact reason why there is money laundering. this is accurate and correct for my understanding as well, only big syndicates or organizations can do such things in real life.

And the sad thing is that it cannot be denied that there are some government officials with high positions involved in this matter because of are corrupt politicians. This happens in different countries and as far as I know, there are others who have been caught in that kind of thing. The others avoid a large percentage of the tax because they engage in money laundering even though they know it is illegal, they still do it.

governments and politicians do not use casinos to launder money, they create companies to launder money, they create hotels and build tourist facilities to launder money, the big criminals in the drug underworld build luxury hotels to launder money money, they bribe governments to facilitate the documentation of the construction of companies and hotels and facilitate the whole money laundering process, if a criminal wants to launder money, maybe he will create a physical casino, but an online casino would be very limited for a large criminal laundering money

We have alot of peeps that are basically into money laundering as you've said but, nobody really gives a f*** about where these guys get their money From; to some point, it's not even seen as something very important to follow up on serious investigations before they could let them place their bets....
AFAIK, they could just get an alliance with a certain casino, just to ensure thier safety during this illegal monetary services, So I'd say No. Casinos could sometimes be an avenue to launder 'em cash. I won't really attest that on every casino as some are really strict and would quickly go against any form of fraudulence.

Sandra 💇

the guys who launder money most of the time and money that comes from drugs, then there is the money that comes from corruption, in African or even Arab countries that steal a lot from their people, they take the money from corruption and build these hotels of luxury that we see in these countries and many companies are built, these companies are not profitable, the money from drugs and corruption is injected into these companies and it looks like the company and the hotel are making a profit, when this is not true

[ajochems]

We should not encourage the money laundering at any circumstances. Because all the money involved in money laundering is our money indirectly. Either it was the money of corrupted politician. So if you encourage by the name of casino, you are adding additional money to them directly or indirectly. Kindly avoid such things, because we had enough opportunities to earn money in good way. The politicians using the casino as the tool to convert the money to crypto currency and then back to their wallet.

[LUCKMCFLY]

I think money laundering if done is done through mixers more than is done in casinos although people may use casinos for small amounts which really is not considered money laundering.The casinos may serve a good purpose in making your coins anonymous as you can deposit to them through a wallet and receive money in a brand new wallet that you create and the tx id is different because the money is coming from a wallet of that casino,that is the maximum people can use casinos but criminals to launder money through them I find it hard to believe.

I think that the real money laundering is to ensure that the right person gets their hands on a completely legal fiat. "Winning" from the casino is still gray money, since you have to declare it and pay taxes (different conditions in different countries), so it seems to me that those who launder amounts of money at least a little more than small ones use other schemes.

Well, I think we know something, that those who launder money the most like governments for nothing in the world do it through a casino, because it is simply very risky, they have other methods, but yes, it may be that some who are very new resort to casinos, but I don't see it as easy, casinos now have many regulatory agents, and those regulatory agents achieve them thanks to the authentication of their licenses, those same licenses that in many threads of new casinos we as players demand for our " security" thing that for me is not a guarantee, I think that if money is laundered, the least they use now is casinos.

[QueenVera]

because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

Casinos don't really make this rules by themselves but rather some regulatory bodies and also the gambling board  a d this casinos only follow instructions given to them by this Bodies.
There is this prove of income verification going on with stake.com and I think this also another way to help comb this criminal activities and ensure customers safety.
We are in a society were everyone wants extreme privacy and most times, people shy away from casinos that seek or require KYC before registration or after deposit and this tends to want to keep their customers, hence making them break some rules or taking some drastic actions.
I suggest that a strict KYC should be implemented in casinos without compromise because this will go a very long way to reduce money laundering in casinos.

[Cryptomultiplier]

I don't think the casino will look into it. Unless the authorities had already given them the ultimatum. If the user submitted the required KYC and the coins are clean, business goes on. The casinos themselves are often laundering by mixing the money with thier profit, I suspect the streamers hired to do the marketing for them are somehow involved without them knowing.

Well, you may be right or on the line, unless there is a solid proof or evidence to buttress your suspicion on these actions of money laundering from a casino. If you wouldn't go through this stress, so also will the casino not even bother looking into the source of a customers cash for deposits. They really don't care and can't exhaust resources on all players/users who join to participate. It is a win-win for them in all sense. Unless a certain player/user has been flagged by security agencies to be looked into, only then I do think a casino can go through the stress of investigating further for money laundering. I however doubt they can do much besides providing data of the users playing history and transaction claims on winnings and loss.

[roslinpl]

Money laundering became a virus to many of the developing nations as compared to  developed nations. Because developing countries are large in size mostly and economic spread over large period. So most of the economy was not accountable, their the corruption was occur is large scale. So the developing countries economies involved in Money laundering and more crypto currency casino will be origin in this place. Money laundering will make you fool by the politicians and politicians should not use the money laundering for the people resources should be used on the wrong way of the responsibility.

[dothebeats]

Money laundering became a virus to many of the developing nations as compared to  developed nations. Because developing countries are large in size mostly and economic spread over large period. So most of the economy was not accountable,their the corruption was occur is large scale.So the developing countries economies involved in Money laundering and more crypto currency casino will be origin in this place.

I think there isn't a disparity, both are still equally involved. It's just that it's easier to launder money if you're coming from a developed nation compared to a developing one as most of the requirements wouldn't be that demanding and that people will not really bat an eye if you move x amount of money from one place to another. I think if gambling platforms, authorities, and law enforcements would just be as efficient and effective in catching money launderers, the statistics will show that both are always equally engaged in money laundering, it's just that the amount would (surely) differ.

[ethereumhunter]

Money laundering became a virus to many of the developing nations as compared to  developed nations. Because developing countries are large in size mostly and economic spread over large period. So most of the economy was not accountable,their the corruption was occur is large scale.So the developing countries economies involved in Money laundering and more crypto currency casino will be origin in this place.

And maybe that's why some casinos ask users to do KYC in anticipation of the casino being used as a place to launder money from corruptors. Casinos also don't want to become targets for corruptors who play with big money because later it can cause problems for the casinos so the regulators will put more pressure on them. And this won't be good for crypto gamblers who don't engage in illegal activities because they don't know anything about it. But the money launderers know where they can carry out their activities easily. Moreover, their network is very wide so they can easily contact places they are used to as money laundering.

[coupable]

As a response for whom think that bitcoin can be associated with crime by using it for gambling activities ; Even Fiat money is used in suspicious activities and has not been subjected to any attack to limit its use in one way or another. Moreover, the adoption of Bitcoin by casinos cannot be considered a suspicious activity, especially for licensed casinos.
In my opinion, it is good to see more businesses supporting Bitcoin, including gambling projects and even porn production companies. On this basis, I understand op's remark and his question about it, because the number of crypto-based casinos has increased a lot and cannot be compared to the number in the early years of Bitcoin. Answer: Yes, this contributes to strengthening the position of Bitcoin and supporting it as a reliable currency and a secure payment gateway. However, the side effects that must be dealt with can never be canceled by adopting the necessary procedures.

[AmoreJaz]

As a response for whom think that bitcoin can be associated with crime by using it for gambling activities ; Even Fiat money is used in suspicious activities and has not been subjected to any attack to limit its use in one way or another. Moreover, the adoption of Bitcoin by casinos cannot be considered a suspicious activity, especially for licensed casinos.
In my opinion, it is good to see more businesses supporting Bitcoin, including gambling projects and even porn production companies. On this basis, I understand op's remark and his question about it, because the number of crypto-based casinos has increased a lot and cannot be compared to the number in the early years of Bitcoin. Answer: Yes, this contributes to strengthening the position of Bitcoin and supporting it as a reliable currency and a secure payment gateway. However, the side effects that must be dealt with can never be canceled by adopting the necessary procedures.

and thinking about the money laundering, crypto or btc is just one of the currencies involve in this fraudulent act. but up until now, fiat is still the major means of this illegal activity. launderers just add another route to their scheme. media is just highlighting btc in a bad light. but we all know, fiat is still the major player in these fraudulent schemes.

[Rabata]

So, what do you say, does crypto casinos really care about money laundering?

I think they will be limited to their responsibilities. If the casino brings any allegations of money laundering against a client, their business may suffer in a way that they would never want. If they are asked to investigate these illegal activities, they will not do that because they have no need to investigate the gambler's finances. What casinos can do is ask each gambler for their KYC. If they get any error then they can take necessary action. Money laundering is an illegal activity, every casino should discourage such activity.

[Webetcoins]

The best or the worse thing? I think there is more than money laundering, and that would be hacking because when a casino is hacked, all funds are going to be swept away but as far as I know no money is lost during a money laundering act. The launderer will just exchange the coins that they got from illegal stuffs. It's like they are only cleansing/cleaning it. Those casinos who has a KYC on them do cares about money laundering.

If the customer is a potential launderer, it will still be blocked by a casino and they can't earn with it but they shouldn't feel bad. At least they help combat these illegalities and maybe they can still get some recognition from the public and on the government.

[Casdinyard]

Let's be honest, money laundering is the best thing that can happen to a casino and there is where most of high rollers comes from. I have seen some rollers in the past that runs some huge scams and then go to the casinos to play with the scammed money and with that justify where they get the money from after hitting some huge wins.

Nowadays most casinos has KYC, but i don't think that is enough to stop the money laundering, what casinos should do is to investigate the source of the deposits to fight against this illegal activity, but that will not happen because is a win-win game from them.

So, what do you say, does crypto casinos really care about money laundering?

The thing is, and this happens everyday mind you, things wouldn't be a cause for concern until the cops' sirens are heard. With that idea in mind you could put two and two together in the sense that these casinos aren't exactly tolerating it, but aren't exactly against it either as it doesn't disrupt their business for one, and it's not something that they can't outright ban cause it would take massive efforts and a whole lot of enemies too on their part just so they can uphold justice.

So until the authorities do something about it, perhaps mobilize a police task force that tackles specifically money laundering, we won't see any movement on the casino's part as they are in a precarious situation where they can't do anything else they risk losing their business one way or another.