The fight against money laundering

Like all of us, you have heard of the fight against money laundering, but, without really knowing what it is about. In its own definition, money laundering is part of financial crime techniques. The principle is simple in appearance. It is a question of concealing the origin of funds perceived illegally, in order to reintegrate it legally into the financial circuit and, of course, to make it grow.

This so -called laundering step is essential. It is it which allows you to reuse these funds in all "impunity". Silver whitening takes place in three stages. These three phases are commonly called prewater, brewing and spinning. Discover all this thanks to our Guide.

Legal obligations

In USA, as everywhere else in the world, the fight against money laundering is one of the fundamental government objectives. As a result, financial transactions of a high amount are generally examined under the magnifying glass by the accredited authorities. Bookmakers, whether online or terrestrial, do not escape this rule. It is a part in their legal obligations to go up all suspicious activities to the government of the country and to take, if necessary, upstream the necessary actions.

A goal, multiple possibilities

Previously, money laundering for sports betting could be done in a very simple way. At a bookmaker, the process for whitening funds is quite basic. Indeed, a whitening arrives with funds. He will then bet the desired sum on the favorite of the match, or on the different outcomes of the meeting or on the highest coast.

According to his Paris choice (s), the risks will be more or less important. If he chooses for example to bet on the favorite, his chances of earnings will be lower. However, its success rate in terms of money laundering is very high since most of the time, this bet will prove to be a winner. After this bet, he will be able to justify the origin of this money with a third party and this sum, previously "dirty", will be considered "clean".

This reputation as an intermediary no longer has to be

Whether online or hard, checks and measures have been very clearly strengthened in recent years. It has become very difficult to consider a sports betting site as a funding intermediary. In hard, checks have been hardened, cash payments are very monitored, earning controls are more and more frequent ... Online, most sports betting sites are certainly located in tax havens. However, although having a more flexible law vis-à-vis financial aspects, interior checks (identities, transactions, etc.) are as it is fortunately very difficult to whiten money.