How do Criminals Launder Money using Video Games?
Financial Institutions have made the KYC process more stringent using advanced technologies such as AI, ML, and AML software to streamline the AML compliance process. The online gaming industry is unregulated, and there are no stringent KYC rules which users need to follow. They quickly transfer in-game currency, and the fraudulent transactions are lost in the legit transactions.
More about in-game currencies

How are Video Games used for Money Laundering?
How to prevent money laundering in video games?
AML UAE is one of the most reliable firms that offer an array of complete information about the AML compliance services . It offers AML software selection, AML / CFT Policy Controls and Procedure documentation process, in-house AML compliance department set up, AML Training, Annual AML/ CFT Risk Assessment Report, and AML/ CFT Health Checkup. Gather more information on the company by visiting AML UAE.
Add a comment
Share via :
About the Author
Pathik Shah
CISA, FCA, CS, DISA (ICAI), FAFP (ICAI)
Pathik is a multi-disciplinary professional with more than 22 years of experience in compliance, risk management, accounting, system audits, IT consultancy, and digital marketing. He has extensive knowledge of Anti-Money Laundering rules and regulations, and he helps companies comply with legal requirements. Pathik also helps companies generate value from their IT investments.