FATF Warns Of Growing Misuse Of Gaming, Gambling Platforms For Financial Crimes
The FATF warns that gaming and gambling platforms are increasingly used for money laundering and terrorist financing, requiring stronger detection measures.Summary
The Financial Action Task Force (FATF) has issued a warning to countries about the growing misuse of gaming and gambling platforms to facilitate financial crimes, including money laundering and terrorist financing. The agency explains that criminals use these platforms to move money without genuine gambling activity, employing tactics like splitting large sums into smaller transactions or placing unusual, coordinated bets to avoid detection. FATF identifies illegal and unlicensed online gambling as a particular high-risk area, where criminals leverage multiple payment methods, fake identities, and complex ownership structures to obscure illicit fund flows. To combat this, FATF has published new risk indicators designed to help governments, regulators, and businesses identify suspicious activities and strengthen their anti-money laundering measures within the gaming and gambling sectors.
(Source：The Northlines)