FATF warns illegal gambling rivals regulated markets in multiple countries
The Financial Action Task Force warned governments, regulators and gambling operators that illegal and unregulated gambling can rival or exceed regulated markets in volume in multiple countries. The organisation said its report, based on a year-long study involving more than 80 jurisdictions, sets out quantitative and qualitative risk indicators and urges stronger enforcement and international cooperation.
The warning gives compliance teams and regulators risk indicators for addressing illegal gambling and money laundering threats.