With US Regulation Online Casinos Can Help Catch Terrorists

Recent reports have suggested that terrorists have used Internet gambling sites to launder money for their operations. While the US government has been trying to catch these terrorists, they, according to reports, have used the US laws on Internet gambling to their favor.

E*Trade has been fined on two separate occasions for failing to properly implement money laundering screening. The fines may lead the company to tighten their ability to detect money laundering.

Currently, the Internet gambling sites that the terrorists may be using to launder money have no regulations within the US. If legalization with regulation were to occur, it would become more difficult for the terrorists to launder money through these sites.

Not only would regulation lead to a safer environment online, but it could lead to the capture of terrorists around the world. If these same terrorists that are laundering their money were to do so under a regulated system, the government would be privileged to information of their whereabouts.

In response to their fines, E*Trade believes they already have a safeguard in place to deal with money laundering. "E*Trade upgraded its system to provide an automated method to monitor for this particular activity (money laundering), and those systems have been in place for over a year," said Company spokeswoman Pamela Erickson, in a statement.

Similar regulations that apply to E*Trade would be put in place for online casinos. Under those strict regulations the online casinos would then serve as a valuable tool for the government against anyone, or any terrorist organization, that is trying to launder money.

January 3, 2009
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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