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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Chips in modern casinos are tracked to help cut down on counterfeits so you coming back to cash out that same pile. Likewise, you would be reported to the IRS and lose 20-30% of it then and there (depending on if you provide social security info).
If you’re working with casinos involved in your organized crime it would probably go a lot easier, but otherwise you would lose a lot of it and have the high risk of getting caught.
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