Reported by Howard Stutz By 2007, as casino expansion flourished across multiple states, the U.S. Department of Treasury stepped up its scrutiny of large financial transactions at casinos. Nevada gaming overseers decided a change was needed in the state’s regulatory structure and removed Regulation 6A, which covered currency reporting requirements by casinos. It essentially led to […]

Reported by ASSOCIATED PRESS A former shoemaker pleaded guilty Tuesday to allegations that he ran an illegal gambling operation for the Mafia out of his shop in Brooklyn. Salvatore Rubino, also known as “Sal the Shoemaker,” admitted in court to running card games and operating illegal gambling machines inside his former shoe repair business and […]

Reported by David Wharton and Nathan Fenno For all its complexities, all its twists and turns, the gambling scandal that has engulfed Dodgers star Shohei Ohtani raises a simple question. In this era of DraftKings and FanDuel, when so many people across the nation can place wagers with a few taps on the phone, why would anyone […]

Reported by Matt Ehalt A former federal prosecutor said the illegal gambling allegations against Shohei Ohtani’s former translator could potentially fall under the umbrella of money laundering, should it be revealed that Ohtani approved wire transfers to cover Ippei Mizuhara’s reported $4.5 million debt. Ohtani’s camp originally told ESPN he had transferred funds to offset the losses […]

Reported by Richard Vanderford The rapid growth of the sports betting sector and a lack of uniform regulations contribute to “significant and increasing money-laundering risks,” the Treasury said Wednesday as part of an expansive report on money-laundering concerns. An estimated 67.8 million Americans are expected to bet on Sunday’s Super Bowl, a 35% increase from […]

Reported by: Emma Dunkley Austrac, Australia’s financial crime watchdog, is investigating Entain to check whether the London-listed betting company has complied with anti-money laundering and counter-terrorism financing rules. Entain Australia, which last year accounted for about a tenth of group revenue, said it was “co-operating with the investigation which relates to the historical period from […]