8 Hrs
Source:
المشهد العربي
Global alerts on betting platforms used for money laundering
The Financial Action Task Force (FATF) confirmed that criminal networks are exploiting online betting platforms to facilitate money laundering, using unlicensed sites and payment channels that include virtual assets, due to the lack of stringent oversight. It pointed out the increasing risks of money laundering through electronic sports betting sites, especially through transaction fragmentation that avoids identity verification processes. The organization called for enhanced international coordination and strengthened regulatory measures to detect suspicious activities, as well as providing guidance to authorities to combat illegal uses of these platforms.
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