CAN PEOPLE ENGAGE IN MONEY LAUNDERING VIA ONLINE SLOTS GAMING?

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The vast majority of global citizens live and work within the same kind of broad system – what we like to call the global economy.

You earn a salary, and then spend it on various things, something that subsequently pours money into numerous other little bits of the economy.

Most of us live like this, completely unaware that lying beneath the surface is another completely different and hidden market – the black market.

This is principally governed by the global drugs trade, and is worth into the billions of dollars every year; yet nobody ever hears of it, and that is of course because it is illegal.

There is a hell of a lot of money to be made on the illegal black market. Pablo Escobar was reportedly raking in millions every single week, and it got to the point where he physically didn’t have space to keep all of the cash he was earning.

In the 21st Century things are slightly different due to the increased use of banking and digital transactions, but drug barons still have difficulties in finding where to keep their money. This is mainly because the money they have made is illegal and illegitimate, meaning that if they were to deposit it straight into a bank they would be caught out and punished.

Another method is needed… read ahead for an insight into whether or not people can engage in money laundering through online slots and playing other casino type games.

What is money laundering?

For the illegal players in the global market it can get incredibly difficult to legitimise their money, something you need to do if you want to be able to buy things normally. Money laundering is basically a method in which criminals can “clean” their money, making it appear entirely legitimate and obscuring the illegal past of where the money came from.

This can be done in various different ways, and criminals have been known to get rather creative indeed. One of the main ways in which they launder their cash is to buy a cover-up business such as a carwash or restaurant, and then filter through the black market money so it appears as earnings.

As we say, however, there are countless ways in which you can try to launder money, and criminals are getting more and more creative as the years go on.

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