How can money be laundered using Casinos?

  • Acquaintances bet against each other in even money games and intentionally lose to one of the parties.
  • Client requests winnings cheque in a third party’s name
  • Using casino chips as currency for criminal proceeds

Identifying suspicious transactions in a casino business:

  • Customer requests winnings cheque in a third party’s name, especially if it’s a significant amount.
  • Customer requests the transfer of winnings to the bank account of a third party or a known drug source country or to a country where there is no effective anti-money laundering system.
  • Acquaintances bet against each other in even-money games and it appears that they are intentionally losing to one another.
  • Customer is known to use multiple names.
  • Customer purchases a large volume of chips with cash, participates in limited gambling activity with the intention of creating a perception of significant gambling, and then cashes the chips for a casino cheque.
  • Customer attempts to avoid the filing of a report (that is required by casino management) for cash by breaking up the transaction.
  • Customer opens an account with the casino, and enquires about the ability to transfer the funds to other locations when he is not known as a regular, frequent or large volume player.