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    AGA Statement on 2024 National Money Laundering Risk Assessment

    February 7, 2024

    AGA Vice President Alex Costello issued the following statement on the U.S. Treasury 2024 National Money Laundering Risk Assessment:

    “It is our long-held view that new forms of legal gaming, like online sports betting and iGaming, require specific BSA guidance to ensure the U.S. financial system is protected from money laundering. In the absence of such guidance, AGA members have built on decades of experience from robust casino compliance to create and deploy AML controls for online gaming. Our members stand ready to work with the Department of Treasury to ensure that legal, online operators have the guidance needed to build on our current programs and meet the high standards already employed by the casino industry.

    This is in stark contrast to the illegal, offshore marketplace. These predatory websites—which rely on cryptocurrency and employ no AML safeguards—pose the most significant risk of gambling-related financial crimes. The federal government must prioritize enforcement against these bad actors to protect American consumers and the U.S. financial system.”

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