Casinos, blessed places for money laundering? Following an alert from a large casino, the National Financial Intelligence Authority (ANRF) is conducting an in-depth investigation into a group made up of Moroccan nationals and foreigners suspected of using casinos to launder funds from activities illicit. The group indeed tried to bribe a casino manager, but he rejected the offer and alerted management, reports Assaba. This, in turn, informed the ANRF, which opened an investigation in collaboration with its international counterparts to obtain additional information on the foreigners involved.
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It is possible to launder millions of dirhams in a single day by simulating winnings from betting and games of chance, often in complicity with certain casino owners, informed sources say. Once laundered, these funds are reintegrated into the legal economy and reinvested in Morocco, after the payment of commissions to casino owners, who take a part of the initial amount. These practices are recurrent in certain casinos abroad. In Morocco, casinos are placed under strict surveillance, and the law requires their managers to report any suspicion of money laundering under penalty of criminal prosecution.
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The preliminary investigation reveals that two foreign members of the group, suspected of money laundering, are on blacklists of financial regulators in their countries of origin. They have a history of questionable cases and are allegedly involved in an international money laundering network. They leverage casino winnings to reinvest funds from drug trafficking and other illicit activities. These funds “are then re-injected into the legal economy, particularly in real estate projects, such as the construction of residential complexes, or in sectors such as cafes, restaurants and recreational spaces,” it is explained.
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