Terrorists Launder Money Through Online Poker Rooms

[DamianDunlap]

Three men who were found guilty last week of using the Internet to incite terrorism were said to have laundered money through various online poker rooms. [FONT='Trebuchet MS',Verdana,Helvetica,sans-serif]

According to a report in the Washington Post, investigators in the US and Britain spent hundreds of hours tracking the financial activities of the three men across thousands of merchants in more than a dozen countries.
The men used more than 130 stolen credit cards at 43 different online gambling websites including Canbet, Paradise poker and Noble Poker. [FONT='Trebuchet MS',Verdana,Helvetica,sans-serif]

The allegations highlight the need for all online gaming operators to put in place stringent anti-money laundering policies in order to minimise their exposure to such risk. Although online gaming companies are not exposed to the same regulatory pressures as financial institutions and land-based casinos, they could still be subject to civil suits and adverse market and public reaction if they fail to show that they have taken every step to minimise the company's risk to money laundering activities. [/font]

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