US Treasury Department reports on impact of sports betting on money laundering
The National Money Laundering Risk Assessment has been published
US.- The US Treasury Department has published its National Money Laundering Risk Assessment. The report says the $109bn sports betting market has raised the risk profile of money laundering. It noted that Americans place about $64bn worth of wagers a year on illegal or offshore gaming platforms.
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The report mentions a case from August 2023 where a Georgia man was charged with money laundering after misdirecting over $30m from charities and donors, including $1m via regulated online sports betting.
