The Financial Action Task Force has published an updated assessment of money laundering, terrorist financing and proliferation financing risks across casinos, gambling and online gaming, accompanied by red flag indicators for operators and authorities. Updating its 2009 work on casinos, the report finds that increasingly digital, cross-border and interconnected platforms create exposure through rapid value transfers, varied payment channels, links to social media and participants that may fall outside national anti-money laundering and counterterrorist financing frameworks. Money laundering is an established risk, particularly in land-based and online casinos and sports betting, while available evidence indicates less frequent or sophisticated laundering through gaming. Terrorist financing misuse is more observable in online gaming than gambling, while proliferation financing risks remain very limited. Particular vulnerabilities include cash, e-wallets, mobile money and virtual assets, as well as illegal offshore operators, opaque ownership structures, regulatory arbitrage and weak cross-border information sharing. FATF recommends stronger risk assessments, licensing and registration controls, public awareness of illegal operators, international cooperation and public-private information sharing. Its indicators cover suspicious customer profiles, account and betting behavior, payment patterns and platform features, but FATF cautions that individual indicators do not necessarily establish illicit activity and may sometimes reflect problem gambling.

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