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McAfee Report Claims Online Gambling Enables Cybercrime

McAfee Report Claims Online Gambling Enables Cybercrime

A research paper published by McAfee claims that cybercriminals are being paid via untraceable payments performed on online gambling sites. According to the whitepaper, “Jackpot! Money Laundering Through Online Gambling”, casino operators are fueling cybercrime by making it easy to pay those involved.

McAfee Report Claims Online Gambling Enables Cybercrime

A research paper from McAfee claims that online criminals are able to use gambling sites to launder money and receive payment for crime.

The paper explains that there are three aspects of online gambling sites which make money laundering easy.

The first is that most sites offer a high level of anonymity to players.

Secondly there is now a huge range of deposit and withdrawal methods available which makes it harder to keep track of transactions.

Thirdly, there are now so many online casinos that it is virtually impossible to monitor them all.

The report suggested that the only way to try and prevent money laundering would be through cross-sector/border and public-private partnerships which would utilize the capabilities of law enforcement, ISPs, internet security companies, independent monitoring organizations and the financial institutions which receive the suspicious fund transfers.

McAfee also suggested the development of forensic tools to help authorities detect and prosecute cybercriminals; this would need to be coupled with training of law authorities and generally raising awareness of cybercrime.

In other words, a huge collaborative effort is needed to effectively put a stop to cybercriminals’ activity.

OCA News Editor