The Guernsey casino industry continues to struggle with money laundering

The Financial Intelligence Department (FID) of Guernsey, an autonomous British Crown territory, has revealed that the majority of money laundering notifications in 2022 were submitted by entities involved in gambling activities. According to the annual report published by the FID, a total of 2,018 reports were dispatched regarding anti-money laundering concerns within the gambling sector. British financial authorities receive the majority of Suspicious Activity Reports (SARs) issued by the FID. The overall number of SARs decreased by 26% compared to the previous year, reaching a total of 2,656 in 2022. The reports primarily revolved around apprehensions related to money laundering, comprising 73% of the total filings.
 
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