When it comes to casino money laundering there are several red flags to look for. These include targeting casinos, problem gambling and enhanced due diligence. Red flags of money laundering Casino money laundering is a multi-step process. First, a customer purchases chips using currency, then redeems them for a casino check. During this period, the customer may also wire funds to a foreign financial institution. In order to detect such activities, it is important to pay close attention to transaction patterns. Casino customers often make frequent deposits into their account.…
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