The Financial Action Task Force (FATF) has raised the alarm about criminal abuse associated with the gaming and gambling sectors, warning countries that criminals now use gambling platforms for money laundering and smurfing transactions. In a new report, FATF said new risk indicators help identify suspicious activity and disrupt criminal abuse, alerting countries on how to spot abuse of the gaming and gambling sectors, including criminals using gambling platforms to move money without actually gambling, making multiple small transactions to avoid detection and unusually large or co-ordinated bets on events flagged for possible competition manipulation. The Paris-based organisation explained that technological innovation creates complex ecosystems for regulators and law enforcement.
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