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Due to their historical ties to organised crime and their cash-intensive nature, casinos have long been considered vulnerable to money laundering. Paradoxically, only a handful of research initiatives have broached the subject in serious detail.Using a variety of analytical methods, this study provides an in-depth assessment of the scope of money laundering in the casino industry, as well as the legislative and practical measures that can be taken to limit susceptibility. Though it focuses on the current situation in Australia, international initiatives and experiences from further afield are extensively incorporated, making the findings applicable to casinos and regulators worldwide.

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Due to their historical ties to organised crime and their cash-intensive nature, casinos have long been considered vulnerable to money laundering. Paradoxically, only a handful of research initiatives have broached the subject in serious detail.

Using a variety of analytical methods, this study provides an in-depth assessment of the scope of money laundering in the casino industry, as well as the legislative and practical measures that can be taken to limit susceptibility. Though it focuses on the current situation in Australia, international initiatives and experiences from further afield are extensively incorporated, making the findings applicable to casinos and regulators worldwide.

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1. Introduction

Research objective - Scope of the research - Outline of the study

2. Methods

Required information - Materials and methods used

3. Casinos, crime and money laundering

Introduction - Casinos and crime - Legal definition of money laundering - The fabulous forty - The casino quandary - FATF/APG vulnerability report - Intrinsic weaknesses - Summary

4. Las Vegas and the legalisation of vice

Introduction - An ancient pastime - Nevada: Prospectors, charlatans and entrepreneurs - Enter ´Bugsy´ - Drug dealing bartenders and musicians - Summary

5. The Australian casino industry

Introduction - A question of liberty - They´ll bet on anything - The local casino industry - Casino regulation and anti-money laundering legislation - Summary

6. Risky business

Casinos and the application of the AML/CTF Act: Introduction - The risk-based approach - Risk and the core requirements - Anti-money laundering laws in a nutshell - Summary

7. Official statistics and media analysisIntroduction - Problems with the official statistics - The Star City blues - Melbourne´s crown of thorns - The disgruntled bank clerk - Taking out the laundry: 2008 to the present - Summary

8. The expert interviews

Introduction - Background to the interviews - Interview conclusions: A question of semantics? - Low-level money laundering - The cost of regulation - Systematic money laundering - Summary

9. Casino susceptibilities revisited

Introduction - A review of casino susceptibilities - Weaknesses and strengths - Summary

10. Conclusions and implications

Introduction - Main conclusions - Future implications - Summary

References

Appendix

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