The Economic Times

FATF issues global alert on money laundering and fraud risks in gaming, gambling; publishes new risk indicators

The FATF is alerting countries about criminal abuse in gaming and gambling sectors. Criminals use gambling platforms for money laundering and smurfing transactions. Technological innovation creates complex ecosystems for regulators and law enforcement. Illegal gambling markets rival legal ones, offering anonymity to criminals. New risk indicators help identify suspicious activity and disrupt criminal abuse.