ISLAMABAD: The Financial Action Task Force has warned of emerging risks to economies from the rapid growth of online gaming and gambling and issued new indicators to help countries combat money laundering, terrorist financing and proliferation financing.
“As gaming and gambling services become increasingly digital, cross-border and interconnected, new money laundering, terrorist financing and proliferation financing risks are emerging,” the Paris-based global watchdog said on Wednesday after conducting surveys across 80 jurisdictions.
The FATF sets international standards to combat illicit finance and assesses whether countries are taking effective action to address money laundering, terrorist financing and proliferation financing.
Its latest findings and risk indicators examine risks across casinos, gambling and online gaming, including online platforms, payment channels, illegal operators and their links with the overall financial system.
Criminals using platforms to move funds without actual gambling activity
