The major susceptibility of the casino industry to money laundering in the area has been highlighted in a report released in tandem by the Ministry of Home Affairs, the Monetary Authority of Singapore, and the Ministry of Finance.
The use of cash in the casino sector is crucial to the report's conclusions, as it is seen as a possible channel for criminals to falsely legitimize their earnings from environmental crimes.
It coincides with efforts by authorities to eradicate possible avenues for money laundering for criminals in the region, particularly in relation to wildlife trafficking, in the fight against financial crime and wider money laundering.
The use of cash in the casino sector is crucial to the report's conclusions, as it is seen as a possible channel for criminals to falsely legitimize their earnings from environmental crimes.
It coincides with efforts by authorities to eradicate possible avenues for money laundering for criminals in the region, particularly in relation to wildlife trafficking, in the fight against financial crime and wider money laundering.
