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Internet gambling could potentially be a powerful vehicle for laundering criminal proceeds at the relatively obscure “layering” stage of money laundering.
Federal law recognizes that state laws vary and seeks to ensure that
Federal law recognizes that state laws vary and seeks to ensure that
neither interstate nor foreign commerce is used to circumvent them. [http://www.gao.gov/new.items/d0389.pdf]
neither interstate nor foreign commerce is used to circumvent them. [http://www.gao.gov/new.items/d0389.pdf]
==[[Money laundering]]==
Law enforcement officials said they believed that Internet gambling could potentially be a powerful vehicle for laundering criminal proceeds at the relatively obscure “layering” stage of money laundering. They cited several characteristics
of Internet gambling that they believed made it vulnerable to money
laundering, including the volume, speed, and international reach of
Internet transactions and the offshore locations of Internet gambling sites.
In their view, these characteristics promoted a high level of anonymity and
gave rise to complex jurisdictional issues.