PHENOMENAL GROWTH IN ONLINE GAMBLING REPRESENTS OPPORTUNITY FOR MONEY LAUNDERERS
April 1st, 2008
BY ALAN OSBORN, in London, and SUZANNE KOELEGA, in Sint Maarten, Dutch West Indies
AS with much of life today, the future of gambling is closely tied to the Internet, and this development of an international industry based on instant cross-border cash flows has raised understandable concerns about money laundering. However, if online gambling operations remain honest - and regulation is suitably vigorous, this risk could be managed, given electronic transactions should be based on legitimate credit cards and leave a trail.
With the industry booming, however, ...
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