Money Laundering – Laws and Risks


Businesses and other organizations that deal with cash are likewise required to be vigilant against money laundering. They should be able to trace where any cash they send gets spent and who it is spent with. They should be able to freeze suspicious transactions and intercept any cash that passes through their systems. Companies that have access to money laundering proceeds must be properly insured so that they can settle claims in cases of money laundering. The funds they are responsible for may go to legitimate creditors and payment channels, or they may go to law enforcement agencies for investigation and possible prosecution of suspects.

Money Laundering

Have you ever heard of the term “lawful gaming” to refer to the act of gambling online? Most people have. This is because there is no black and white line drawn regarding this activity. In fact, the only thing that can be proven is that you were not playing for real when you lost your money on online casinos. It sounds just like the rest of the gamblers – a winner on one hand and a loser on another.

A risk-based policy that require prescreening of new business opportunities and applicants; a requirement for company seals and a statement of integrity; creation of a confidential reporting program and enforcement of that policy; and prompt response to any reported instances of money laundering.

Risk Vs Gain

Every casino in operation today features slots games. Slots are a casino’s version of roulette. They offer players the opportunity to win a jackpot of potentially thousands of dollars. Of course, winning in slots games does not result in getting a straight line of cash either. The jackpot is won by being the first player to get a number or pattern or a cluster of numbers on his line. When these patterns are found, they are called syndicate lines and can entitle the winning player to a share of the jackpot.

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