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FINTRAC publishes an operational alert providing indicators of money laundering through casino-related underground banking

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English:  https://www.fintrac-canafe.gc.ca/intel/operation/casino-eng

French:  https://www.fintrac-canafe.gc.ca/intel/operation/casino-fra


IVTS involves dealers who facilitate the transfer of value to a third party in another jurisdiction without having to physically move it.

This may have effects on XRP-related casino websites as XRP could be defined as an Informal Value Transfer System (IVTS) in the eyes of FINTRAC.

Please discuss.

Edited by TaylorWarden
Added quote for context

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5 hours ago, XRPonTheIronThrone said:

Its no different with any crypto...borderless. You can get paid out from offshore casinos in bitcoin (Bovada). In Macau, the Chinese walk into a rolex store on the casino floor, buy a rolex with a card and return it for cash forgoing currency controls. There are always ways.

take notes GIF

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