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Ballard Spahr LLP

European Commission Highlights Online Gambling’s Money Laundering Risks

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Report Previews Potential Implications for the United States - The European Commission (“Commission”) recently released its 2022 Supranational Risk Assessment Report (“SNRA Report”) to the European Parliament and Counsel...more

Cadwalader, Wickersham & Taft LLP

UK Gambling Commission Cracks Down in Respect of Money Laundering Failures

Cadwalader, Wickersham & Taft LLP on

On 12 March 2020, the UK Gambling Commission announced that it will fine online gambling business Betway Limited (“Betway”) £11.6 million for failures in respect of its anti-money laundering controls and handling of seven of...more

Ballard Spahr LLP

FinCEN Director Blanco Addresses AML Compliance and Casinos

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FinCEN Director Kenneth A. Blanco delivered prepared remarks on August 13 at the 12th Annual Las Vegas Anti-Money Laundering Conference.  We previously have blogged repeatedly on the anti-money laundering (“AML”) and Bank...more

Ballard Spahr LLP

Popular Video Game Serves as a Reminder of Regulatory Risks of In-game/In-app Virtual Currencies

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“V-bucks,” the in-game virtual value currency of the wildly popular video game, Fortnite, is reportedly being used to launder the proceeds of stolen credit cards....more

K&L Gates LLP

Is Money Being Laundered Through Your Financial Institution Using Daily Fantasy Sports Sites?

K&L Gates LLP on

This alert addresses the explosion in popularity of daily fantasy sports (“DFS”) sites and the money-laundering potential that DFS sites may offer to criminals around the world. It then explains potential legal liability...more

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