Online gaming sites can be a honey source for money laundering. And if casino operators slip up the chance to detect such attempts or simply lack the appropriate measures, they can have their license revoked and even face penalties.

One such illustrative example is the trendiest scandal of The Star Entertainment Group in 2022. According to Sarah Court, ASIC Deputy Chair, Star’s board and executives failed to prevent money laundering at its Sydney Casino. If in a few words, the Star Entertainment Group allowed 1,222 users to gamble over $617.6 million via high-risk payment channels. As a result, the company’s NSW license was suspended, and it was fined $62 million dollars. And similar cases are more than enough in the iGaming space.

Actually, gaming operators have much remaining on their plates that need to be done when it comes to fighting against money laundering. The most crucial thing they can do is to implement an efficient CDD (Customer Due Diligence) check and follow AML processes.

However, even these can sometimes not be enough to confront powerful hacking attacks and malicious acts. Gambling organizations first need to learn how to identify suspicious behavior and what the most common laundering schemes are to minimize the risk.

In this article, we will shed light on the 6 most used types of money laundering techniques hackers practice in online casinos. So, get comfortable and let's begin.

What Are the Most Widespread Money Laundering Schemes in Online Gaming — Top 6

When it comes to money laundering, it can take up different shapes at both KYC and withdrawal without verification casinos. Here, we have highlighted the most common ones.

#1 Cash-in, Cash-out

Probably, this is the most typical and the simplest money laundering scheme in the gambling sector. The essence of this method is as follows: a malicious actor just exchanges dirty money with casino chips in physical gambling venues or electronic money in online casinos. Then, these chips or electronic funds are used to play various casino games before the scammer cashes them out as clean money in the form of a check (in physical casinos) or online winnings (in online casinos).

As a result, dirty funds can be mistaken for money earned at a gambling site. Normally, fixed-odds betting terminals are used in this method since they let the player only lose a small amount when cashing out.

One such example is the case in 2006 when a lawyer from Virginia used this cash-in, cash-out approach to launder $250,000 at the Taj Mahal Casino in Atlantic City. To make it possible, he first transferred $250,000 embezzled money into a betting account, then purchased a casino marker with $10,000, lost $1,000, and cashed out the remaining funds.

#2 The Vancouver Model

If we go back to the time period between 2008 and 2018, we can see that gambling establishments in Vancouver were massively used to launder money in large sums from China. The reason for this was the restriction imposed on Chinese citizens, according to which they were prohibited from bringing more than $50,000 out of the country. That's when criminals in Vancouver thought of a workaround and offered it to local players.

The scheme required people to wire funds to the Chinese banking account of a Vancouver-based crime gang. Upon their arrival in Vancouver, they could get cash in exchange.

In the next step, they just needed to take this cash to a casino in Vancouver, place several small bets, and then cash it out as casino winnings. As a result, it will be cleaned of its illegal source.

#3 Collusion Between Gamers

Another money laundering strategy is the Collusion Between Players. If in simple words, it requires one gamer to intentionally “lose” their dirty money, which was exchanged for physical casino chips or electronic money beforehand, to an accomplice gamer at online or brick-and-mortar casinos, for example, in a poker game. This way, the money is no longer related to its criminal roots and can easily be withdrawn as “clean” funds.

The “advantage” of this method is that it gives launderers a chance to escape any AML detection policies, as currently, they can only be triggered by successful bets against the gambling platform itself and not other gamers.

#4 Exchanging Goods Through Gambling

This method allows a gamer to clean their funds at the same time as they receive illegal money and sell illegal goods. Simply put, both the seller of illegal goods (like weapons or drugs) and the buyer takes part in the same casino game. This way, the buyer can easily send funds to the seller through the bet or game using the player-to-player transfer option. Then, the seller cashes out the money from their payment account in exchange for goods. It is quite efficient if we look from the criminal perspective.

Technically, as funds come via gambling, they can't simply be traced as an illicit transaction.

#5 Purchasing Chips from Someone Else

The next common method of money laundering is when people try to clean their funds by buying casino chips or the winnings of other players at a higher price. For instance, the launderers can approach jackpot winners at a poker game venue and offer them cash at a premium in exchange for their winning cheques.

In some cases, these malicious actors can even pay off the gambling debts of the gamer in return for getting payments in the form of chips later.

#6 Mixing Non-Gambling and Gambling Methods

More professional criminal groups are practicing various ways to further conceal traces of funds laundered through gambling sites. They typically involve virtual assets like NFTs, cryptos or even property purchases to achieve their goal.

Simply put, criminals use their dirty money to place small bets at online casinos, which will help them clean their money and then use these funds to buy various properties. Later, they sell these properties and cash out money.

Through this method, criminal groups try to confuse authorities by masking the origin of the money.

Key Vulnerabilities in Online Casinos

Both land-based and online gambling venues are often abused by criminals to launder money. The cause of such frequent hacks lies in the security vulnerabilities that most online casino platforms come with.
Overall, according to FATF (The Financial Action Task Force), there are multiple potential vulnerabilities that gambling operators might have that result in money laundering. These cover:

1. Transferring funds between customers;
2. Cash payments;
3. Deposit accounts;
4. Third parties;
5. Multiple accounts;
6. Identity fraud;
7. Receiving crime proceeds;
8. Multiple operators.

Even though these are not the only “faulty elements” that lead to illegal activities, they are still the key ones.

In order to prevent or minimize the risk of money laundering cases, gambling operators should implement some precautionary measures. The most common ones cover:

1. Utilizing customer due diligence procedures (gathering personal data, verifying the source of money, etc.);
2. Integrating KYC procedures;
3. Reporting suspicious transfers;
4. Organizing employee training from time to time, etc.

And don't forget about the most effective method, which requires compliance with AML regulations.

In today's digital age, mobile gaming has become incredibly popular, providing millions of users with a convenient and immersive gaming experience right at their fingertips. However, with convenience comes the potential for cybersecurity risks. As a mobile gamer, it's crucial to adopt secure web practices to protect yourself as well as your devices from potential cyber threats and ensure a safe and enjoyable gaming environment.

In this article, you will find 6 foolproof measures to ensure the utmost security when gaming on mobile. 

1. Stay Updated

One of the most critical steps in ensuring security while gaming on your mobile device is keeping your operating system and gaming apps updated.

Developers often release security patches and updates to address vulnerabilities and enhance overall security. Regularly updating your mobile device and gaming applications will help safeguard against potential attacks and ensure you have the latest security features.

2. Strong Authentication

Implementing strong authentication measures is another crucial aspect of secure mobile web practices in gaming.

Implementing strong authentication is crucial in guaranteeing data security. It is imperative to enable Two-Factor Authentication (2FA) or Multifactor Authentication (MFA) whenever feasible, as it necessitates an extra verification procedure beyond passwords ensuring that only you can access it. This additional safeguard greatly mitigates the threat of unauthorized entry into your gaming accounts.

3. Secure Payment Options

Another necessary mobile practice when browsing and visiting gaming websites or downloading mobile gaming apps is to check for the app or the site’s payment options.

In the realm of mobile gaming, in-app purchases are a predominant feature, allowing players to acquire virtual goods and upgrades. Since these transactions may involve sharing credit card details, it is imperative to provide secure payment options. A gaming platform that ensures secure payment processes not only fosters trust and confidence among gamers but also enhances the overall user experience.

For gamers who value their hard-earned winnings, generous bonuses, and cashback rewards, it is imperative to choose a gaming website that prioritizes secure payment options. One such website that guarantees the safety of your funds and even your precious free spins is the casino gaming sites. Don't compromise your peace of mind—opt for the safest online casinos that provide top-notch security measures for all your financial transactions.

Furthermore, adhering to stringent security practices is crucial for gaming companies to meet data protection regulations and legal obligations. Neglecting these measures could lead to reputational harm, legal ramifications, and financial penalties.

4. Be Cautious with Third-Party Apps

While it is tempting to explore alternative app stores or download unofficial gaming applications, it is essential to exercise caution.

One of the primary risks associated when browsing game applications or web sites are malware and data leak concerns. To avoid network disruptions and even financial losses, it is best to stick to trusted and reputable app stores like Google Play Store or Apple App Store when browsing for mobile games, as they have mechanisms in place to detect and remove potentially malicious apps.

Unauthorized or untrusted apps can carry hidden malware that can compromise the security of your device and personal information.

5. Avoid Public Wi-Fi

Public Wi-Fi networks may seem convenient and widely available for mobile gaming, but they can be a breeding ground for hackers and cybercriminals.

For most experts, public Wi-Fi networks are usually unsecured or use weak encryption protocols that might make it easier for hackers to intercept sensitive data transmitted between devices and access personal information.

These public networks, generally, have weaker security measures as compared to private ones and are therefore easy to be exploited for their vulnerabilities. As such, it is recommended to avoid connecting to public Wi-Fi networks when gaming or, if necessary, utilize a virtual private network (VPN) to encrypt your connection and enhance security to enjoy a secure gaming experience.

6. Mind App Permissions

When you download and install gaming apps, it is crucial to be vigilant about the permissions they request.

Some mobile gaming apps might ask for access to unnecessary information or functions on your device, which should raise concerns. It is important to only grant the essential permissions needed for the app to work properly, reducing the likelihood of data breaches or unauthorized access. This can include permissions to access your contacts, location, camera, or even microphone.

By carefully reviewing and limiting the permissions you give to gaming apps, you can help protect your personal data and privacy.

Final Thoughts

Secure mobile web practices are vital to preserving your privacy and protecting your personal information while enjoying the world of mobile gaming.

By staying informed, updating software regularly, employing strong authentication measures, and making informed choices about app downloads and secure network connections, you can create a safer gaming experience for yourself. Remember to always err on the side of caution and prioritize your online safety.

With these practices in mind, you can embark on your gaming adventures with confidence and peace of mind.

 

While the unfortunate demise of Google Stadia was a major blow to users who invested a lot of time and money into the ill-fated cloud-based gaming platform, Google did somewhat make up for this by issuing users refunds on most purchases, even going so far as to enable players to use their Stadia controller as a standard Bluetooth gamepad.

 

With a method players were able to use their Stadia controller with other devices such as smartphones and computers, a feature which wasn't originally available as Stadia used a different kind of wireless connectivity method with the controllers. That being said, Google initially specified that owners only had until the end of 2023 to "convert" their controllers.

 

 

It looks like Google has extended this deadline, though - Twitter/X user Wario64 spotted a change on the official Stadia Controller webpage, which now states that this method will be accessible throughout 2024. It should also be noted that once this method is performed on a Stadia controller, it will forever continue to function as a "regular" Bluetooth gamepad.

 

In our experience, converting the Stadia controller over to a more standard Bluetooth connectivity mode works well with laptops and computers, although it does require a bit of time to setup. In any case, it's a nice way to repurpose otherwise obsolete hardware from a failed product.

 

Apple and Google are currently dominating the smartphone space, especially Google where their own app store is on pretty much nearly every Android device out there in the market today. This is a huge deal because all purchases made will see a portion of that money go to Google in commission fees.

 

Given the popularity of some mobile games and the millions of dollars that can be made through in-app purchases, it's not surprising that Microsoft now wants in on the action. Phil Spencer, Microsoft's head of the Xbox division, has confirmed that the company is in talks with various partners about the launch of a mobile game store.

 

Microsoft currently has their own storefront for Windows apps, but a mobile game store could be a great alternative for developers of mobile games who might not want to pay the commission that Apple and Google takes. Presumably Microsoft could be offering a lower cut compared to Apple and Google otherwise it's hard to imagine why developers would go with them instead of using Apple or Google's native app stores.

 

That being said, there are definitely challenges that lie ahead for Microsoft. Firstly, they would need to convince customers to download or use a separate app store for games, especially if users prefer to consolidate all their apps. Secondly, there could be an issue with Apple, who at the moment still does not allow third-party app stores on its iOS platform.

 

The EU does have a law that is coming into effect that would effectively force Apple to open up its ecosystem, but Apple is fighting it and it remains to be seen how that will turn out.

 

 

In the ever-evolving landscape of gaming, staying ahead of the curve requires more than just skill—it demands the right gear. As we step into 2023, the world of gaming gadgets for PC has reached new heights, offering enthusiasts an array of cutting-edge tools to elevate their gaming experience. From immersive virtual reality setups to lightning-fast gaming peripherals, the market is teeming with innovations designed to push the boundaries of what's possible. In this dynamic era of technology, choosing the right arsenal of gadgets can be a daunting task. Fear not, as we present the definitive list of the top must-have gadgets for gaming enthusiasts in 2023. Whether you're a seasoned gamer or just entering the realm, this curated selection is your guide to unlocking the next level of gaming excellence. Embrace the future of gaming with these essential tools that promise to redefine the way you play.

1. Logitech G Cloud Gaming Handheld

Step into the future of gaming with the Logitech G Cloud Gaming Handheld. This revolutionary device lets enthusiasts carry their gaming sanctuary in their hands, providing on-the-go access to a vast array of cloud-based games. Pick a game here from SlotsUp's collection of free video slots with bonus rounds and start playing. Experience console-quality graphics and seamless gameplay without being tethered to a specific location. The Logitech G Cloud Gaming Handheld offers unparalleled flexibility, ensuring that your gaming adventures are not bound by physical constraints. Elevate your gaming experience now by embracing this portable powerhouse, where the thrill of gaming knows no bounds.

2. Xbox Series S Fortnite & Rocket League Bundle

Embark on an unparalleled gaming journey with the Xbox Series S Fortnite & Rocket League Bundle. This gaming powerhouse not only delivers the cutting-edge performance of the Xbox Series S console but also comes bundled with the exhilarating worlds of Fortnite and Rocket League. Immerse yourself in top-tier graphics, responsive controls, and the thrill of competitive play. Elevate your gaming arsenal by seizing this bundle — a gateway to an immersive universe of gaming excitement. The Xbox Series S Fortnite & Rocket League Bundle is your ticket to unparalleled gaming nirvana.

3. GAEMS Guardian Pro Xp

Revolutionize your gaming lifestyle with the GAEMS Guardian Pro Xp. This portable gaming fortress offers an immersive on-the-go experience with its built-in monitor and console compatibility. Elevate your gaming setup to new heights by ensuring that wherever you roam, your gaming sanctuary follows. The GAEMS Guardian Pro Xp combines convenience with top-notch visuals, delivering a seamless gaming experience. Break free from traditional constraints and embrace the future of portable gaming. In 2023, make the Guardian Pro Xp an essential part of your gaming toolkit, turning any space into a haven for uninterrupted gaming pleasure.

4. Razer Raptor 27″ Gaming Monitor

The Razer Raptor 27″ Gaming Monitor secures its spot as a top-tier essential for gaming enthusiasts. Boasting a 144Hz refresh rate and 1ms response time, it delivers an immersive, lag-free gaming experience. The 27-inch IPS display, with QHD resolution and HDR support, showcases vivid colors and sharp details. Designed with Razer's signature aesthetics, its customizable Chroma RGB lighting adds flair to your gaming setup. Adaptive Sync technology reduces screen tearing, while the built-in cable management ensures a clean, organized space. Elevate your gaming visuals with the Razer Raptor 27, a monitor that blends performance and style seamlessly.

5. WOWCube - Digital Cube with Games and Apps

Enter the realm of innovation with the WOWCube - a digital cube that transcends traditional gaming. This futuristic gadget seamlessly blends the tactile joy of a handheld cube with a digital playground of captivating games and apps. Offering a unique, interactive experience, the WOWCube is a revolutionary addition to the gaming landscape in 2023. Immerse yourself in a world where entertainment and innovation converge, shaping a gaming future that defies expectations. Elevate your gaming repertoire with WOWCube's ingenuity, a must-have for enthusiasts seeking an immersive and interactive gaming adventure like never before.

6. Smart Glasses

Step into the future of gaming with smart glasses, a revolutionary gadget taking immersive gameplay to new heights. These cutting-edge spectacles seamlessly blend the virtual and real worlds, providing gamers with an augmented reality experience like never before. Enjoy enhanced graphics, interactive overlays, and intuitive controls right before your eyes, creating a truly immersive gaming environment. With features like eye-tracking technology and holographic displays, smart glasses redefine how we interact with digital worlds. Elevate your gaming escapades and embrace a new dimension of play with these futuristic glasses that promise to transform your gaming sessions into unforgettable adventures.

7. LG UltraGear RGB Gaming Speaker

Unleash the power of sound with the LG UltraGear RGB Gaming Speaker, a must-have gadget for gamers. This audio marvel not only delivers crystal-clear sound but also elevates your gaming setup with customizable RGB lighting. Immerse yourself in a symphony of high-fidelity audio and dynamic visuals as the speaker syncs with your gameplay, creating an ambient spectacle. With precision-tuned acoustics and sleek design, LG UltraGear transforms your gaming space into a multisensory arena. Elevate every battle, soundtrack, and dialogue with this audio masterpiece, setting a new standard for immersive gaming experiences.

8. Meta Quest 2

At the forefront of virtual reality gaming, the Meta Quest 2 takes center stage. This sleek and wireless headset delivers an unparalleled gaming experience, allowing enthusiasts to dive into immersive worlds with ease. Explore a new dimension of cool gadgets for gaming with the Meta Quest 2, boasting enhanced graphics and a vast library of titles, serving as a gateway to limitless adventures. With its untethered design, powerful processing, and intuitive controls, the Meta Quest 2 redefines the boundaries of gaming. From heart-pounding action to mesmerizing simulations, this gadget seamlessly marries cutting-edge technology with unparalleled convenience, making it an indispensable companion for every gaming enthusiast seeking the pinnacle of virtual reality.

9. 8Bitdo SN30 Gaming Controller

The 8Bitdo SN30 Gaming Controller reigns supreme in 2023, offering gaming enthusiasts a versatile masterpiece. Compatible with Windows, Android, and Nintendo platforms, this controller seamlessly transitions between devices, ensuring a unified gaming experience. Explore the world of gaming gadgets for mobile with the 8Bitdo SN30, a versatile controller that allows you to conquer levels on your PC, dominate opponents on Android, or navigate Nintendo's vast gaming universe. With its retro-inspired design, ergonomic feel, and responsive buttons, it's a nostalgic nod to the past with all the modern functionalities. The 8Bitdo SN30 is your key to precision control and uninterrupted gaming bliss across multiple platforms.

10. Samsung 49-Inch CRG9 Curved Monitor

Immerse yourself in unparalleled gaming experiences with the Samsung 49-Inch CRG9 Curved Monitor, a standout among our top 10 must-have gadgets for gaming enthusiasts. Boasting a breathtaking 49-inch curved display, this monitor delivers a panoramic view that engulfs you in the heart of the action. With a 120Hz refresh rate and a crisp 5120 x 1440 resolution, it ensures smooth gameplay and stunning visuals. The dual QHD resolution across the expansive screen provides a competitive edge, making the CRG9 a gaming powerhouse. Elevate your gaming setup with this cutting-edge monitor, where every detail comes to life in vibrant color and dynamic clarity.

Summary

Unveiling the gaming future in our research where innovation meets exhilaration. Amid the tech revolution, anticipate the unexpected with groundbreaking gadgets that redefine gaming excellence. From immersive VR headsets to lightning-fast gaming laptops, each entry in our 2023 lineup pushes the boundaries of what's possible. Read here about how gadgets have changed the way we play slots, and elevate your gaming prowess with cutting-edge technology, ensuring an unprecedented level of excitement and interactivity. Stay ahead of the curve in the gaming landscape with our curated selection of must-have gadgets, promising an unparalleled gaming experience in the dynamic year ahead.