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Isle of Man government rates cross-border money-laundering risk medium-high

Regulation

The Isle of Man Government’s banking-sector risk assessment raised the rating for money-laundering risks linked to cross-border activity to medium-high. It identifies risks relevant to gambling businesses, including complex international flows, virtual assets and indicators of human trafficking; the Gambling Supervision Commission outlined warning signs and due-diligence expectations for operators.

The assessment sets out money-laundering indicators and checks relevant to gambling operators on the Isle of Man.

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Enforcement & compliance

Moroccan authorities investigate alleged cross-border money laundering through casinos

Moroccan authorities opened an investigation into suspected money laundering through casinos in Morocco and Spain, reportedly after compliance officers at three casinos flagged irregular transactions to Morocco’s National Financial Intelligence Authority. Investigators are examining alleged false poker winnings, transfers and possible casino-system or staff involvement; Moroccan customs and foreign-exchange authorities have introduced tighter currency checks at major ports and airports.

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