What are the risk indicators for betting?
Betting activities can be used to facilitate money laundering through each of the three money laundering stages: placement, layering and integration and/or the financing of terrorism.(59) The following circumstances may indicate a risk of money laundering or terrorism financing occurring: (60) • betting activity is inconsistent with the financial situation and/or known occupation of the person gambling • purchase of winning tickets from other punters (gamblers) • substantial cash redemptions of negotiable gaming chips despite the absence of, or minimal, gaming activity • frequent deposits of personal bank cheques exchanged for chip purchase vouchers but limited gambling activity undertaken • frequent deposits of gambling cheques followed by immediate withdrawal of funds with cash or cheques • filling a gambling machine with credits and collecting the payouts with little gambling activity (this occurs particularly in VIP sections of gaming venues where there is no limit on credits) • ga
