I've heard that one of the main reasons why the UIGEA was passed into law and that the US goverment is so dead set against online gambling and wanting to ban it right now is because of the fact that money laundering is the biggest issue associated with this form of uncontrolled and regulated gambling. I don't quite understand how one can benefit from online casinos in their ability to launder money though online casinos it doesn't really make much sense to me.

Can someone maybe explain how this might happen?

Thanks,
Raymond

Money laundering is in fact an issue with any type of online gaming. I think the most popular kind of money laundering is depositing large amounts of money into online casinos then playing only with a little or playing with a lot until you win big and then making a withdrawal from the casino to a different source then where the funds game from. Use of offshore banks to bring money on-shore is another rather popular way of how people use these internet gambling operations to launder money.

Cynthia

I don't think that it's as much of an issue as it used to be the whole money laundering thing with online casinos and gambling sites online.

Perhaps I'm wrong but that's my opinion on the subject.

I have to disagree with you chimp... the fact is that people are still able to with relative ease transfer moneies to and from online casinos and using these 3rd party services to transfer funds to different account holders. It's very much still a problem from what I understand and although these 3rd party services do their part in terms of due diligence to ensure that money laundering is not an issue it certainly is something that's still happening.