FATF report flags underground banking and hawala in professional money laundering
Regulation · SectorWire deskSource published
Summary
The Financial Action Task Force published a report on professional money laundering, underground banking and hawala and similar service providers, Cyprus's Gaming and Casino Supervision Commission said. The FATF found more than 80% of contributing jurisdictions named underground banking and such providers among main laundering channels, and cited possible casino and junket-operator involvement.
Why it matters
FATF cited possible casino and junket-operator involvement in underground banking and hawala laundering channels.
Cite as: SectorWire, “FATF report flags underground banking and hawala in professional money laundering”, 4 September 2026, https://sectorwire.news/item/fatf-report-flags-underground-banking-and-hawala-in-professional-money/