Let’s say I have 500k in cash from fraudulent activities. It seems like I could just go to a casino and play games in a way that minimises my losses or even, if let’s say I was a big organisation, try to work with some casinos for them to launder my money for a lower fee.
I suppose there are rules in place to prevent this type of activities. But what are they? How is this prevented from happening? It seems like it’s really easy to launder money if I needed to
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The casino/money laundering connection isn’t related to individual gamblers laundering their illicit money through the casino. It’s related to casino owners who have “side businesses” turning the income from their “side businesses” into legitimate taxable income.
You’re a person who owns a casino. You have your employees and that’s all legit. You also have some employees for your “side businesses” that “sell protection” to other local businesses. These people bring in the “protection fees” from the other local businesses, buy chips, play until they’ve lost it all, and go home. Those “protection fees” now exist as legal taxable income for the casino, and you as the business owner.
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