The battle against the illegal activity of money laundering

In the modern world, financial institutions are deeply concerned about combating money laundering. Allow me to shed light on this complex process if you haven't fully grasped it yet. Let's delve into the theoretical definition of money laundering, which is essentially a technique used in financial crimes. The process of laundering funds involves three distinct steps, commonly known as pre-washing, mixing, and spinning. Essentially, a criminal group aims to hide the illicit origin of their funds and then reintegrate them into the financial system legally, enabling them to profit from the money without facing any consequences. Now, let's explore how the fight against money laundering is relevant to online casino sites.

Strict legislation

Une législation stricte

In the battle against money laundering, France, like every other nation on the globe, takes this issue seriously. Governments worldwide share the common goal of combating this illicit activity, which poses significant threats to financial systems. To address this challenge, France has established a dedicated unit known as TRACFIN, which stands for the Financial Intelligence Unit. This specialized division, officially named Intelligence Processing and Action against Clandestine Financial Circuits, focuses on identifying and taking action against hidden financial networks involved in illegal activities.

I have to emphasize that a casino website is legally obligated to the government. It is required to closely monitor all financial transactions that occur on its platform. Whether it is an online or brick-and-mortar casino, if there is any suspicion of fraudulent activity, the casino must report this information to the respective player's government and, if needed, take appropriate measures in advance.

A currently unsuccessful industry

A few years back, there were beliefs that money laundering could still be done via online casinos. However, it is crucial to acknowledge the significant changes that have occurred in the world, leading to stricter controls. Thankfully, it has become increasingly challenging for criminal organizations to launder money through our beloved casino platforms. In the past, a simple tactic like placing a substantial bet on a specific color in roulette would have sufficed, concluding the game. Nowadays, online casino sites closely monitor such playing methods, rendering them unprofitable.

Vigilant casinos

As an online casino site, it is our responsibility to uphold the laws that govern our operations. In doing so, we are committed to verifying the source of the funds that flow through our platform on a daily basis. It is important to note that financial transactions on our site involve substantial sums of money. As a result, we are required to scrutinize transactions that appear questionable in terms of their amount and origin. In such instances, we have the authority to request evidence of deposits and possibly seek an explanation. If you find yourself in this situation, there is no need for concern. We are merely fulfilling our legal obligations as an online casino site.

🏆Top Casinos
  • Bonus $300
  • Mobile Casino
  • Multi-software
  • Bonus $200
  • Range of games
  • Customer service
JackpotCity Casino
  • Bonus $/$/CHF 300
  • 1000+ games
  • Top 3 software
  • The opportunity to enjoy complimentary gameplay
  • There are numerous live games available for enjoyment.
  • Weekly bonuses
Tropezia Palace
  • Bonus $100
  • more than 1200 games
  • Betsoft Software
🎓™ Newsletter

Get your one-time special deal by signing up for our newsletter and making the most of our daily advice on the top web-based casinos!

💥The Casino that stands out this month
  • 100 $welcome bonus
  • ❤ 3 weekly promotions
  • ❤ Quality toy library
Now playing