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The prevention of money laundering and combating the financing of terrorism

Examples

  • A drug dealer, whose only legitimate source of income for ten years was state benefits, spent more than £1million in various gambling establishments over the course of two years, and lost some £200,000. All the transactions appeared to involve cash.
  • A grandparent with no previous gambling history, on a state pension, began to make weekly bets of about £100. Investigations later revealed that the grandparent was placing the bets on behalf of a grandson, a known criminal, and that the money spent was the proceeds of his criminal activity.
  • An individual was in receipt of state benefits with no other apparent form of income, but then gambled significant amounts through a licensed operator. Deposits of over £2million were made to an online gambling account over the course of about two years from a multiple of sources, such as debit card and credit card, and various e-money and e-wallet services. Investigations revealed that their gambling was funded by criminal activity.
  • Over an extended period of time, an individual who claimed to be a gambling addict stole equipment worth a substantial amount of money from their employer and resold it for their own gain. They then used most of these criminal proceeds to gamble, depositing almost £6million into an online gambling account and losing almost £5million, involving about 40,000 individual gambling transactions. The individual remained in employment throughout this period.
  • A customer spent a large volume of cash at a casino, including a significant quantity of Northern Irish and Scottish bank notes. The customer told staff that the cash came from restaurants and takeaway food establishments that they ran around the United Kingdom. This explanation was accepted at face value by the staff, however, in reality the customer did not own any legitimate businesses and was later convicted of money laundering offences arising from criminal activity.

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