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Brexit – How might it affect payments?

On both sides of the argument there are claims and counterclaims about how Brexit – the potential occurrence of UK leaving the European Union if the referendum on the 23rd of June sees a vote in favour of leaving – will unravel pivotal social, economic and political changes.

No matter what the view on the UK’s relationship with the EU is, there is no doubt that we are closely intertwined with the organisation and its member states. Of course, whether this is a good thing is one of the many bones of contention between the Stay and Leave camps.

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How do online gambling sites prepare for the latest anti-money laundering directive?

As long as there have been casinos, they have been used for money laundering. Criminals would enter casinos with “dirty” money (i.e. money obtained from criminal activities), convert it into casino chips, gamble for a short period of time, cash in their chips for a cheque and then the dirty money could be passed off as gambling winnings.

The explosion of remote gambling (online gambling) has opened up even more opportunities for criminals and even terrorists to launder money. Organised crime is nothing if not opportunistic and so the possibilities offered by online gambling to offenders has been grasped with both hands.

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