regulating the online movement of money<\/a> related to gaming. Last month, the gaming lobby updated its anti-money laundering best practices for the first time since 2019. The AGA said the update resulted from new technologies and gaming formats, such as iGaming.<\/p>\n<\/div>\n“As the methods and sophistication of financial crimes evolve, the gaming industry continues to spearhead efforts to combat money laundering,” said Alex Costello, AGA’s vice president of government relations.<\/p>\n
The AGA says the casino gaming industry filed nearly 55,000 suspicious activity reports (SARs) for anti-money laundering compliance last year. SARs are documents that financial institutions and businesses that handle large monetary transactions must complete and report to FinCEN when there is suspicion of money laundering or other fraud.<\/p>\n","protected":false},"excerpt":{"rendered":"
The legal expansion of iGaming across the US — specifically online sports betting — has increased financial crime concerns among compliance experts. Online casino gambling with interactive slots and table games is permitted in six states — New Jersey, Delaware, Pennsylvania, West Virginia, Michigan, and Connecticut. Mobile betting on sports is live in 21 states, […]<\/p>\n","protected":false},"author":25,"featured_media":229223,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[19],"tags":[82562,81871,81894],"acf":[],"yoast_head":"\n
iGaming Proliferation Heightens Financial Crime Risk, Says Expert<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n