Top 5 Ways Online Casinos Prevent Money Laundering

Licensed entertainment platforms that serve Australian users are required to confirm the identity of anyone opening an account or making a transaction.
The process usually involves providing official identification, such as a passport or driver’s licence, along with proof of address and, in some cases, confirmation of the payment method used.

Verification is generally completed within a short period of time, although weekends and public holidays may slow things down a little.
These checks are part of standard compliance procedures designed to protect users and prevent illegal financial activity.

Once a player is set up in the system, deposits are typically very quick. Most Aussie sites promise instant deposits with money available immediately for online casino play.

The verification process is greatest, though, when it comes to withdrawing funds. This is when the customer verification happens in great detail.

Players using a credit card – for deposits or withdrawals – must complete a credit card authorization form, which is another level of security, as it also requires a copy of the credit card being used.

Many people have started using bitcoin to deposit and withdraw for online casinos, which is offered by a site like Fair Go Casino for Aussies. Even those withdrawals can take up to 2-3 business days. And while bitcoin is mostly anonymous and not tied to any traditional bank, it would be difficult to launder money through bitcoin because of the value swings.

Most online poker rooms cater to casual Australian players, those who deposit occasionally and play for recreation. There are occasional players who deposit large sums of cash to play the highest stakes online slot games and table games, though they are rare.

These high-limit players lean toward sites that offer a substantial VIP program with rewards for high-stakes play.

But when players try to withdraw large sums, they must go through a rigorous identification process.

If players would be withdrawing large sums of money regularly from an online casino, the licensing agent – whether in Malta or Gibraltar – would be sending audit requests and asking questions. The casino would have to provide customer verification documents to be audited.

When an online casino’s entire operation is on the line, they will not take unnecessary risks. Players who want to try to launder money through online casino games will find quite a few obstacles due to strict verification processes.

Digital entertainment operators must hold a valid licence from an approved regulator and stay in good standing with that authority at all times.
To maintain this status, providers are expected to report financial data, customer verification details, and other relevant information that demonstrates full compliance with anti-money-laundering regulations.

If inconsistencies appear, regulators can step in with an immediate review or audit.
When evaluating licensed platforms, transparency and regulatory compliance remain two of the most important indicators of trustworthiness.
These licensing obligations exist to protect both the operators and their users while keeping the digital entertainment industry safe from financial crime.

Online gaming sites provide data. Everything is done electronically, and all of that data put together can be reviewed and analyzed.

This allows casino operators to look for irregular patterns, high-stakes deposits and withdrawals, and any number of other indicators that may point to suspicious behavior. They are able to request more information from a customer or even shut down an account that is deemed to be operating for criminal purposes, such as money laundering.

Live casinos cannot typically monitor every person that comes in and out of its doors. And if they don’t use rewards cards and perform all transactions in cash, there are few ways to track them.