Internet, Casinos and Money Laundering

Abstract

Money laundering, casinos and the Internet may become unavoidably intertwined in the next decade. Money laundering is the process by which criminals transform the money that they receive from criminal activities into funds that appear to have been generated by lawful means and cannot be traced by law enforcement to their illicit sources. While the magnitude of money laundering is unknown, law enforcement authorities estimate that it consists of an annual $100bn‐$300bn in US currency, and a rough estimate of an ‘annual worldwide … range of $300 to $500 billion’.

Citation

Cabot, A. and Kelly, J. (1998), "Internet, Casinos and Money Laundering", Journal of Money Laundering Control, Vol. 2 No. 2, pp. 134-147. https://doi.org/10.1108/eb027180