Compliance Clarified – a podcast by Thomson Reuters Regulatory Intelligence Season 6, Episode 4: Criminal gangs target sports to launder money, ill-gotten gains
Nov 10, 2022
20:14
Financial crime teams are being urged to pay greater attention to illicit transactions linked to money laundering, illegal betting and corruption. The problem is particularly endemic in the Asia-Pacific region, where gambling is a major way of life.
Banks, casinos and other reporting entities are largely oblivious to the extent that organised crime groups have infiltrated the sector, according to sports integrity officials. Some estimates suggest that around a quarter of professional sports has been linked to organised crime.
In this episode of Compliance Clarified, Nathan Lynch, Asia managing editor, joins Alexander Robson, editor-in-chief in London, to discuss the problem.
Programme notes:
UNODC Global Report on Corruption in Sport
https://www.unodc.org/unodc/en/safeguardingsport/grcs/index.html
A log in needed for non-RI subscribers
Bad sports: Global financial crime teams must target industry's illegal betting, laundering
http://go-ri.tr.com/dfjIxt
Sports betting in Australian regulator's crosshairs as AML crackdown continues
http://go-ri.tr.com/yDvMwj
The Regulatory Intelligence podcast series "Compliance Clarified" covers the range of topics that affect compliance officers in financial services firms.
The podcasts have been designed to help compliance officers make sense of the often-challenging world of financial services regulation which is now overlaid with expectations that are not in the black and white of any rulebook. The role and remit of the compliance officer is ever-growing, and senior compliance officers have had to become true polymaths, mastering not only detailed subject matter expertise but also the qualitative mysteries of culture and conduct risk.
Compliance Clarified covers the hot topics of the day and the challenges faced, and aims to offer up practical ideas for emerging good practice.
Banks, casinos and other reporting entities are largely oblivious to the extent that organised crime groups have infiltrated the sector, according to sports integrity officials. Some estimates suggest that around a quarter of professional sports has been linked to organised crime.
In this episode of Compliance Clarified, Nathan Lynch, Asia managing editor, joins Alexander Robson, editor-in-chief in London, to discuss the problem.
Programme notes:
UNODC Global Report on Corruption in Sport
https://www.unodc.org/unodc/en/safeguardingsport/grcs/index.html
A log in needed for non-RI subscribers
Bad sports: Global financial crime teams must target industry's illegal betting, laundering
http://go-ri.tr.com/dfjIxt
Sports betting in Australian regulator's crosshairs as AML crackdown continues
http://go-ri.tr.com/yDvMwj
The Regulatory Intelligence podcast series "Compliance Clarified" covers the range of topics that affect compliance officers in financial services firms.
The podcasts have been designed to help compliance officers make sense of the often-challenging world of financial services regulation which is now overlaid with expectations that are not in the black and white of any rulebook. The role and remit of the compliance officer is ever-growing, and senior compliance officers have had to become true polymaths, mastering not only detailed subject matter expertise but also the qualitative mysteries of culture and conduct risk.
Compliance Clarified covers the hot topics of the day and the challenges faced, and aims to offer up practical ideas for emerging good practice.