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HomeNewsDaily Asia Gaming eBrief: Casinos, crypto supporting money laundering in Asia

Daily Asia Gaming eBrief: Casinos, crypto supporting money laundering in Asia

Good Morning. The times they are a-changin. The rapid integration of technology, such as mirror websites, cryptocurrencies, and third-party betting software, has significantly contributed to the surge in illegal online casinos in East Asia, Jeremy Douglas, Regional Representative at the United Nations Office on Drugs and Crime (UNODC) told AGB. The UN representative discussed the findings of a report regarding the pivotal role played by casinos, cryptocurrency, and VIP junkets in fostering underground banking and crime in East and Southeast Asia.

In Macau, the investment unit of the Bank of East Asia anticipates that the contribution to gross gaming revenue per tourist in Macau may increase by 6 percent this year, while consultant Niall Murray hoped the reclaimed Macau Jockey Club land could be used for non-gaming purposes.

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REPORT

Online casino, Money Laundering, underground Banking, Asia, UNODC

UN rep discusses role of crypto and junkets in money laundering

Jeremy Douglas, Regional Representative at the United Nations Office on Drugs and Crime (UNODC) discussed the findings of a recent report by the agency, which claims casinos, junkets and cryptocurrency have become an important part of money laundering and underground banking operations. Douglas also discussed the challenges in determining jurisdiction, with organized crime syndicates exploiting this complexity, as seen in examples involving Macau SAR, Taiwan, Cambodia, and mainland China.


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AGBrief Editorialhttps://agbrief.com/about-asia-gaming-brief/
The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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