ACAMS Hong Kong Chapter Virtual Event: Illegal Betting and related Money Laundering in Hong Kong, China, and South East Asia
The United Nations estimated that up to USD 1.7 trillion was wagered on illegal betting markets each year. Within Hong Kong, it is estimated that Hong Kong residents lose HKD 15 billion per year to illegal betting operators. Illegal betting is constantly evolving and growing, most recently driven by the COVID-19 pandemic and growth of online betting.
In this session, we will host a panel of experts to discuss the following areas:
- What is illegal betting and how does it operate?
- How are illegal betting proceeds being laundered in Southeast Asia via Hong Kong and China?
- What practical measures can financial institutions take to manage such risk?
- What are the emerging illegal betting threats?
1 ACAMS credit available for members of the hosting Chapter.