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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Nobody walks into a casino and drops 500k without the casino knowing who they are. Maybe a street dealer could launder a few thousand this way, but to launder half a million at the casino, you need to own the casino.
The casino cages are going to ask questions if you cash out more then $500 in chips. If you cash out more then $1000 they are going to ask you to fill out tax paperwork. They are going to watch the tapes and see that you changed a large amount and then didn’t really gamble.
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