U.S. Treasury warns casinos on illegal sports betting | Reuters

National Football League’s Super Bowl on Feb. However, illegal sports betting operations around the world, including online outfits, sometimes offset bets they receive by placing casino wagers, law enforcement sources told Thomson Reuters. The report urged governments to correct what it called a vulnerability of sport betting to organized crime.

The letter with guidance for casinos from Treasury’s Financial Crimes Enforcement Network (FinCEN) came in response to a Dec. It said $140 billion is laundered annually through sport betting. The AGA, citing the Thomson Reuters article, had asked FinCEN about its plans to issue guidance.

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The letter reminds casinos that the Bank Secrecy Act requires them to ask gamblers whether their bets are for themselves, and to report any wagers for third parties as suspicious activity. The letter was dated Dec. In a statement responding to FinCEN’s letter on Friday, AGA President and Chief Executive Officer Geoff Freeman said the group “welcomes continued guidance from FinCEN.” He added that “members are committed to robust anti-money laundering measures” and that they “invest significant resources to tailor risk-based compliance programs for every corner of the casino, including sports books.”

Regulators and law enforcement authorities are concerned by intelligence suggesting that criminals are making bets with legal sports book operations, using intermediaries, or “runners,” to place bets, the Treasury bureau said.

“While casinos routinely look for suspicious bets at sports books and have worked with law enforcement to identify illegal activity, in some cases leading to criminal convictions, no such oversight exists for the illegal sports betting market,” he said.

FinCEN noted that prior to the news of its planned guidance, it had been “planning on communicating to the casino industry directly with respect to a particular concern in this regard.”

Freeman said the risk of money laundering “is far greater in the vast, unregulated, illegal sports betting market than in the highly regulated, legal gaming industry. LOUIS U.S. The letter also reminds casinos that they must take a risk-based approach to compliance, focusing on gaming that presents the greatest money laundering threat.

The FinCEN letter was addressed to the president of the American Gaming Association (AGA), the trade group for the U.S.

“Increases in sports betting conducted on behalf of third parties are facilitating criminal activity and posing a money laundering risk to the U.S financial system,” the Treasury said in a letter made public on Friday.

(Reporting by Brett Wolf of the Compliance Compelete service of Thomson Reuters Accelus, Editing by Randall Mikkelsen and David Gregorio)

The global International Centre for Sport Security reported last year that 80 percent of global sport betting is illegally transacted, and therefore invisible to authorities. This poses distinct money laundering risks for casinos,” FinCEN said in the letter.

By Brett Wolf

| ST. LOUIS

. 1 yields one of the busiest sports book weekends of the year.

Runners have been known to loiter at casinos, keeping numerous mobile phones and tablets near them to receive orders from illegal gambling rings.

“In these cases, the intermediaries rarely voluntarily disclose to the casino that a transaction is being conducted on behalf of a third party, thereby disguising the third party’s role in the transaction and obscuring the source of funds used to place the bet. 22 Thomson Reuters article, which said the department was likely to press casinos to take a greater role in fighting illegal sport book activity.

The U.S. 24. casino industry. states including Nevada, home of Las Vegas. casinos must take steps to combat illegal sports gambling, the Treasury Department has told an industry group in a letter that came just weeks before the Super Bowl, one of the biggest betting events of the year.

Sports gambling is legal in only four U.S

How To Master Sports Betting

You shouldn’t favor a team because they are the team your best friend supports. Business is business and you need to be concentrating on who is going to win regardless of who likes and who doesn’t like which team.

Information and doing your homework is important, but you don’t want to full into the trap of information overload. You can’t let the highs and lows affect you too much.

Sports betting is an easy way to make a tough living. Over time, you will learn what it should be that you should be paying attention to.

Because of this point, it is probably better if you steer clear from any matches involving the teams that you like. Thus when you are doing well, you will still be focused and when you aren’t doing so well you won’t be thinking that it’s the end of the world. If you are going to do it you need to do it properly and master it, it means you are completely organized and focused. You don’t want to lose money just because you weren’t on top of your game.

The most important thing is that you need to take emotion out of the equation. This means that when you place your bets you need to be thinking clearly and concisely. You will be better off for doing so in the long run.

Look for value bets. Upsets are always going to happen but see when it makes the most sense when to go for that and when not to. For instance, if you are pretty certain that a side is going to win and they are getting good odds for this than take this. It’s all about accumulating winnings. What is the point of drowning yourself in statistics and research for what you could just as easily decided with a flip of the coin? So you need to sift through it all and just take the morsels here and there which are really important and make a difference. So if you suffer a bad break along the way, just remember it goes with the territory. In the case of team sports, injuries are important. So do yourself a favor and swear off them. Also look into how sides perform the week after doing certain travel. Anything less than this and it is going to be a disaster. The weather conditions also make a difference as they do in horse racing. On the flip side, you shouldn’t bet against a team because someone you don’t like roots for that team. It doesn’t matter if it is pretty or not.

. It is only going to place you in a difficult position and as much as you might think it won’t be, your decision making ability is going to be compromised. You want to know who trained and who didn’t. It could provide great insight as to predicting what will occur.

Speaking of the long run, this is what you should be focused on. Travel is a factor such as when East Coast sides travel to the West Coast and vice versa. Hopefully this kind of thinking will keep you grounded

British Sterling Silver Hallmarks

Ask if there are any deep scratches or dents in the silver, broken hinges, detached handles, etc.

- Always ask the seller for a picture of the hallmarks, if one is not shown on the listing.. This includes words like: Colonial, Victorian, Edwardian, and Modern.

- Ask questions about the condition. eBay sellers are notorious for giving very few details in their descriptions sometimes. Coin silver is still considered “solid” silver, but the actual silver content is lower, anywhere from 800 – 900 parts per 1000, instead of sterling’s 925. Terms to know and questions to ask.

- Solid Silver – Often used by International Sellers in place of “Sterling”. Find English Sterling Silver at various place.; local antiques shops and auction houses, estate sales, or onlin at eBay, RubyLane or other antiques websites. Ask the seller questions if you aren’t sure.

- Era – English silver is often listed by the era it was produced in. Always ask if the description is sparse. Be careful though, as sometimes this means that the silver content is NOT sterling, but coin silver. Read the description carefully