25th October 2016
The National Narcotics Agency (BNN) has discovered money laundering activities from the drug trade affecting nine countries, including China. The total amount of cash uncovered was Rp3.6 trillion, of which, 2.7 trillion from drug trade, stashed abroad, BNN Chief Commissioner General Budi Waseso said here, Monday. The commissioners report was… Read More
25th October 2016
The Italian who ran a money laundering operation in Malta through a network of remote gaming companies has been rewarded for collaborating with the Italian authorities by being allowed to resurrect the business he ran for the Calabria mafia,’Ndrangheta. Mario Gennaro, 39, was arrested in Malta in July 2015 together… Read More
21st October 2016
Online bookmakers are facing a crackdown on terms and conditions which critics say allow betting firms to unfairly avoid paying out to winning customers, it has been reported. The Competition and Markets Authority is expected to announce an investigation into the internet bookies’ alleged use of small print to restrict… Read More
19th October 2016
Paul Tate, the former payments director at pre-Amaya PokerStars, pleaded guilty in the Southern District Court of New York on Thursday to one charge of operating an illegal gambling business. Tate was one of 11 people indicted in April 2011 on charges of violating the Unlawful Gambling Enforcement… Read More
19th October 2016
The UK Gambling Commission (UKGC) will this month make a number of amendments to its licence conditions and codes of practice (LCCP) in a move to help prevent gambling-related crime. Due to come into effect from October 31, changes include the requirement for all licensees to report criminal investigations they… Read More
17th October 2016
The arrest in China of Australians working for billionaire James Packer’s Crown Resorts could be a further signal about the level of alarm among Chinese authorities about the flow of cash to foreign casinos. China has a problem with money fleeing the country. In recent years, there have been huge… Read More
17th October 2016
There has been a 40% jump in the number of suspicious financial transactions reported to the authorities in the last two years, according to Ireland’s first money-laundering report. The National Risk Assessment for Ireland also said that 32 prosecutions for money laundering were taken between 2011 and 2015. The document… Read More
7th October 2016
The state Gaming Control Board will refer a proposal to strengthen money-laundering regulations for Nevada sports books to its staff to determine if it would create additional burdens on its tax and audit divisions. The board on Thursday conducted a workshop on a proposed regulation that was unusual in that… Read More
4th October 2016
CG Technology, LP, formerly doing business as Cantor Gaming, one of the largest race and sports book operators in the United States, has entered into a non-prosecution agreement and agreed to pay $16.5 million in penalties and forfeiture to the federal government to resolve a criminal investigation into the company’s… Read More
3rd October 2016
THE Philippines might be blacklisted by the Financial Action Task Force (FATF) if  the  country fails to  include casinos in the  coverage of the Anti-Money Laundering  Act  (AMLA). Julia Abad-Bacay, executive director of the Anti-Money Laundering  Council (AMLC), issued this warning after attending the budget hearing of the Senate committee… Read More