Felony actors exploit under-regulated elements of the on line casino and gaming sector to launder and transfer illicit property throughout jurisdictions. This menace is additional compounded by the reported involvement of cryptocurrency as a method to maneuver and obfuscate felony property. Because of this shift in design, a brand new world illicit market has emerged and, as such, jurisdictions want to look at the complete scope of threats within the on line casino sector.
North Korean actors are already identified to use the cryptocurrency trade and designated non-financial companies and professions, together with casinos, to generate and launder income for North Korea’s WMD programme. Inside this danger evaluation scope, authorities want to grasp whether or not sanctioned entities can exploit these rising avenues to obscure the supply of felony proceeds and/or offload illicit cryptocurrency.
This paper, supposed for policymakers, regulators and compliance officers, outlines proliferation finance exercise tied to the on line casino and gaming sector, in addition to the emergence of latest avenues of exploitation that authorities ought to analyse as a part of their nationwide danger evaluation course of. The purpose of the paper is to supply a framework of potential dangers that policymakers ought to take into account when limiting these avenues, from misuse to finance proliferation, and to not present investigative particulars of unknown North Korean exercise within the on line casino and gaming sector.
To attain this objective, the paper gives an summary of threats and vulnerabilities to reinforce a jurisdiction’s publicity to such actions. By reviewing such an evaluation, authorities can assess danger that pertains to their jurisdiction and subsequently create an motion plan for coverage improvement and enforcement. The paper concludes by offering potential danger mitigation methods that jurisdictions ought to take into account if threats and vulnerabilities are recognized.
