The Financial Action Task Force has published a new report examining money laundering risks in gambling across 80 jurisdictions, covering both regulated and illegal markets, and spanning casinos, betting, lotteries, and online gambling.
Casinos and sports betting are among the areas FATF identifies as exposed to money laundering, with online gambling seen as allowing money to move quickly across borders. Offshore and illegal operators add further risk to the picture.
Digital payments are a specific focus of the report. FATF points to e-wallets, virtual assets, and mobile payments as areas of concern, noting that VPNs and multiple accounts can make transactions harder to monitor.
The report also lists warning signs for gambling operators to watch for, including deposits followed by quick withdrawals with little actual play, and multiple accounts using the same device or IP address.
Illegal gambling remains a central theme. FATF says illegal markets can match or exceed regulated gambling in some jurisdictions, and notes that gambling businesses can also be used to move illicit funds more broadly.
FATF is calling for closer cooperation between gambling regulators, financial intelligence units, and law enforcement, and is encouraging countries to assess the specific risks present in their own gambling markets.
