The FATF (Financial Action Task Force) has published a new report on money laundering risks in gambling. It covers regulated and illegal markets across 80 jurisdictions. The FATF gambling risks review includes casinos, betting, lotteries and online gambling.

• Casinos and sports betting are among the areas FATF identifies as exposed to money laundering. Online gambling also allows money to move quickly across borders. Offshore and illegal operators add further risks.
• Digital payments are another focus of the FATF gambling risks report. FATF points to e-wallets, virtual assets and mobile payments. VPNs and multiple accounts can make transactions harder to monitor.
• FATF also lists warning signs for gambling operators. These include deposits followed by quick withdrawals with little play. Multiple accounts using the same device or IP address can also raise concerns.
• Illegal gambling remains a focus of the FATF gambling risks assessment. FATF says illegal markets can match or exceed regulated gambling in some jurisdictions. Gambling businesses can also be used to move illicit funds.
• FATF calls for cooperation between gambling regulators, financial intelligence units and law enforcement. Countries are encouraged to assess risks in their own gambling markets.

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