Location

Caesars Palace, Las Vegas Pompeian II

Start Date

30-5-2013 8:30 AM

End Date

30-5-2013 10:00 AM

Abstract

Introduction

Money laundering is the process by which criminals attempt to conceal or disguise the nature, location, source, ownership or control of their ill-gotten gains, so as to make it possible to invest or consume the proceeds of crime (Masciandaro1999)

Money laundering (Unger, 2007):

  • distorts prices, consumption, saving and investment rates;
  • increases the volatility of import/export levels, the demand for money, interest and exchange rates, as well as the availability of credit;
  • threatens the solvability and liquidity, as well as the reputation and profitability of the financial sector;
  • Endangers the continuance of foreign direct investment (FDI)
  • Acts as a multiplier for crime, corruption, bribery and terrorism

Disciplines

Economics | Gaming and Casino Operations Management | International Business | Public Affairs, Public Policy and Public Administration

Comments

Moderator: Peter Bernhard

Session 3-1-B Crime and Gambling

File: 17 PowerPoint slides

 
May 30th, 8:30 AM May 30th, 10:00 AM

Session 3-1-B: Online Gambling and Money Laundering

Caesars Palace, Las Vegas Pompeian II

Introduction

Money laundering is the process by which criminals attempt to conceal or disguise the nature, location, source, ownership or control of their ill-gotten gains, so as to make it possible to invest or consume the proceeds of crime (Masciandaro1999)

Money laundering (Unger, 2007):

  • distorts prices, consumption, saving and investment rates;
  • increases the volatility of import/export levels, the demand for money, interest and exchange rates, as well as the availability of credit;
  • threatens the solvability and liquidity, as well as the reputation and profitability of the financial sector;
  • Endangers the continuance of foreign direct investment (FDI)
  • Acts as a multiplier for crime, corruption, bribery and terrorism