Which of the following is the main reason Internet gambling is an ideal web-based money laundering method?
Correct Answer: C
Internet gambling is an ideal web-based money laundering method because it allows criminals to move funds across borders quickly, anonymously, and with minimal oversight12. Internet gambling sites can facilitate the placement, layering, and integration stages of money laundering by accepting cash deposits, issuing virtual credits, allowing bets on various games, and paying out winnings through different payment methods12. Internet gambling also poses challenges for law enforcement and regulators, as it operates in a complex and dynamic environment that involves multiple jurisdictions, service providers, and technologies12.
References:
* ACAMS CAMS Study Guide (the 6th edition), Chapter 2: Money Laundering Risks and Methods, page
671
* ACAMS Today, The Growing Threat of Online Gambling Money Laundering2