Gambling Money Laundering

Alert Sample

Alert results for: Gambling Money Laundering

Information between 17th December 2021 - 12th September 2024

Note: This sample does not contain the most recent 2 weeks of information. Up to date samples can only be viewed by Subscribers.
Click here to view Subscription options.

Written Answers
Gambling: Money Laundering Asked by: Lord Bishop of St Albans (Bishops - Bishops) Monday 20th December 2021 Question to the Department for Digital, Culture, Media & Sport: To ask Her Majesty's Government, further to the Written Answer by Lord Parkinson of Whitley Bay on 17 November (HL3696), what is their estimate of the total number of stolen funds that are used for gambling purposes each year. Answered by Lord Parkinson of Whitley Bay - Shadow Minister (Digital, Culture, Media and Sport) The Written Answer of 17 November set out amounts divested by licensed operators in cases where there was both identified anti-money laundering failings and criminal spending and an individual was criminally convicted. The Gambling Commission does not hold further data on stolen funds used for gambling purposes. All gambling operators have a responsibility to keep financial crime out of gambling. The Proceeds of Crime Act 2002 places an obligation on operators to be alert to attempts by customers to gamble money acquired unlawfully, either to obtain legitimate money in return or simply using criminal proceeds to fund gambling.

Written Answers

Gambling: Money Laundering
Asked by: Lord Bishop of St Albans (Bishops - Bishops)
Monday 20th December 2021

Question to the Department for Digital, Culture, Media & Sport:

To ask Her Majesty's Government, further to the Written Answer by Lord Parkinson of Whitley Bay on 17 November (HL3696), what is their estimate of the total number of stolen funds that are used for gambling purposes each year.

Answered by Lord Parkinson of Whitley Bay - Shadow Minister (Digital, Culture, Media and Sport)

The Written Answer of 17 November set out amounts divested by licensed operators in cases where there was both identified anti-money laundering failings and criminal spending and an individual was criminally convicted. The Gambling Commission does not hold further data on stolen funds used for gambling purposes.

All gambling operators have a responsibility to keep financial crime out of gambling. The Proceeds of Crime Act 2002 places an obligation on operators to be alert to attempts by customers to gamble money acquired unlawfully, either to obtain legitimate money in return or simply using criminal proceeds to fund gambling.