Whenever there is a new money law a lot of institutions are affected. Especially institutions that handle a lot of transactions. Usually the financial sector is the target for all these efforts. However, because of the integrated nature of society it is impossible for any action on any part of the economy not to have an effect on the others. As India intensifies its fight against corruption and money laundering the online casino business is one of the affected.
The reason why gambling is always affected whenever there are issues of corruption and money laundering is because of the way they operate. People can come deposit large amounts of money, even cash, play and withdraw even larger amounts of money.
- The people are not questioned about where they got the money from. At the best online and land, based casinos player’s information is protected. Therefore, there is no way to know who deposited what or when.
- Withdrawals from new zealand casinos cannot be traced as to whether the money was deposited and withdrawn without playing or there are actual winnings. This make casinos and gambling houses ideal for money laundering.
How This Drive Will Affect You
Well unless you are in India or playing online casinos regulated in the sub-continent there is absolutely nothing to fear. You can still play your favourite online casino games without any worry at https://www.southafricancasinosites.com/ . However, if you are in India you might want to comply with the regulations and declare any unaccounted cash. There is a lot of black money in the country. Between 2014 and 2015 $770 billion made it into the country as black money.
If you have already complied with the regulations then continue to enjoy the best online casino games. The new move to go cashless is in line with the latest online gambling trends. Most online casinos and gambling sites prefer to transact via wire transfers, card transactions and E-wallets.