Online gaming

jan25

Singapore authorities have described the threat of money laundering activity taking place through the nation’s land-based casinos as “moderately high” but said the nature of gaming means the casinos are likely seen as a less attractive option to criminals than other sectors.

The nature of Singapore’s money laundering threats were outlined in a new report jointly released by the Ministry of Home Affairs, the Ministry of Law and the Monetary Authority of Singapore last week, which also found that online gambling gives greater cause for concern.

In assessing the threat posed by Singapore’s land-based casinos – Marina Bay Sands and Resorts World Sentosa – the report noted that casinos by their nature pose inherent money-laundering threats by way of patrons bringing in and using proceeds of crime in the casinos with the aim of layering and masking the origin of these proceeds of crime. It is also exacerbated by the cash intensity of the sector, and its ability to allow for the storage and movement of funds, including across borders.

“However, we have not encountered any instance where [Singapore’s] casinos were found to be directly complicit in money laundering activities in Singapore and have only observed a low number of cases where criminal proceeds were converted to casino chips for self-laundering purposes,” it said.

https://asgam.com/2024/06/24/government-report-says-online-gambling-poses-far-greater-money-laundering-threat-than-singapores-land-based-casinos/

jan25

O jogo online ilícito é a grande ameaça que se coloca aos casinos de Macau, defendeu hoje o consultor na área da segurança, Steve Vickers, que alerta para operações que estão em curso e que estão a subtrair receitas fiscais à administração de Macau.

https://www.plataformamedia.com/2025/01/10/jogo-online-ilicito-e-a-grande-ameaca-para-os-casinos-de-macau-defende-steve-vickers/

 jan25

Take the money and run”. It’s not only the name of a genius art piece but also a strategy too-often utilized by online gambling-linked companies. And, despite high-profile sponsorship of sporting teams and events, the fact that some companies can simply vanish overnight is concerning - as evidenced by the disappearing act of 8XBet. 

out24

The Macau government “does not have any plans” to grant a public concession for “online gaming”. The point was spelled out in an opinion document issued by a committee of the city’s Legislative Assembly prior to Wednesday’s passing of the “Law to Combat Crimes of Illegal Gambling”.

The opinion document stated, quoting the local government: “To date, the Macau SAR [Special Administrative Region] Government has not granted any concession for the exploration of online gaming and betting, nor does it have any plans to grant a concession for online gaming.”

Separate from the legal concept of a public concession for online gaming, the new law specifically mentions a ban on any operation or promotion of unauthorised online gambling activities.

It says anyone who – without government authorisation – “explores, promotes or organises” online gambling or online mutual betting in Macau is liable on conviction to a prison sentence ranging from one year up to eight years, regardless of whether such activity is done “on a regular basis”.

That had been put in the new law to ensure “effective combat” of online gambling activities, which had been trending upward, said the opinion document.

Nonetheless, the concept of online gaming does exist in Macau’s “Legal Framework for the Operations of Casino Games of Fortune”, under the heading “interactive games”, also noted the opinion document.

That legal framework defines interactive games as those involving play for cash or other form of value, and that use either “telephones, faxes, Internet access, data networks, transmission of video signals, or digital data”.

The legal framework specifically states that Macau’s six casino operators – that saw their respective 10-year gaming concessions come into effect from January 2023 – are prohibited from operating interactive gaming.

https://www.ggrasia.com/macau-says-no-plans-to-grant-online-gaming-concession/

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