Online Gambling as a Game Changer to Money Laundering?

14 Pages Posted: 28 May 2013

See all articles by Ingo Fiedler

Ingo Fiedler

University of Hamburg - Institute of Commercial Law

Date Written: April 30, 2013

Abstract

$1.6 billion criminal proceedings are transferred yearly into the legal system by money laundering (UNODC 2011). Only about 0.2% are identified and confiscated. The manifold negative consequences of money laundering are devastating and threaten the functionality of capital markets (Unger 2007). An important aspect of money laundering is that it is a necessity for organized crime. Without money laundering most crime would not pay. This paper analyses why the relatively new market of online gambling provides different opportunities to launder money cheaply and its consequences.

Keywords: online gambling, money laundering, gambling, crime, cybercrime, organized crime

JEL Classification: K14

Suggested Citation

Fiedler, Ingo, Online Gambling as a Game Changer to Money Laundering? (April 30, 2013). Available at SSRN: https://ssrn.com/abstract=2261266 or http://dx.doi.org/10.2139/ssrn.2261266

Ingo Fiedler (Contact Author)

University of Hamburg - Institute of Commercial Law ( email )

Max-Brauer-Allee 60
Hamburg, 22765
Germany
+4940428386539 (Phone)
+4940428386443 (Fax)

HOME PAGE: http://www.wiso.uni-hamburg.de/institute/irdw

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