Recognizing unusual transactions
As a service provider (Casino and online casino), you are aware of the practices in your industry. Determining whether a transaction is classified as unusual depends, to a great extent, on your professional opinion. Your opinion corresponds with what is considered unusual within your profession. In addition to your opinion, there are circumstances of an unusual nature which must therefore be reported.
If one of the scenarios described in the general examples below (which are not exhaustive) arises, then this is cause to further examine whether the transaction could be connected with money laundering and/or terrorist financing. If you suspect activities of money laundering or terrorist financing, then you must report it.
Red Flags – Casino and online casino
- A transaction which is atypical for the client, given the client’s profession or income
- The incoming cash flow comprises a lot of small amounts and the outgoing cash flow comprises large amounts or vice versa
- Repayments are made to the client via another account than the one into which the funds are deposited
- Cash deposits that do not list the client or which are made under a code name
- Payments in another currency, in larger denominations or by check or via a bank account, while the client paid for the chips or its bet in cash