FATF issues global alert on money laundering and fraud risks in gaming, gambling; publishes new risk indicators - The Tribune
The FATF has issued a global alert and new risk indicators to help identify money laundering and terrorist financing threats in the gaming and gambling sectors.Summary
The Financial Action Task Force (FATF) has published new risk indicators and a global alert regarding money laundering, terrorist financing, and proliferation financing risks within the rapidly evolving gaming and gambling sectors. Based on a project involving over 80 jurisdictions, the FATF identifies illegal gambling as a major risk, with unlicensed offshore operators often mimicking legitimate businesses. Technological innovation, including online platforms and various payment methods (e-wallets, virtual assets), has created complex ecosystems that criminals exploit, often taking advantage of regulatory differences between jurisdictions. The new indicators provide practical guidance to authorities and the private sector, highlighting warning signs such as the use of multiple accounts, discrepancies in identity and payment information, suspicious betting patterns, and complex ownership structures designed to obscure beneficial ownership and bypass regulatory thresholds.
(Source：The Tribune)