Cash Slots Limited in Iceland to Protect Against Money Laundering?

Iceland is having a sudden problem with money laundering. Their most-recent answer to the dilemma is to limit the number of available cash slots.

Other international governing bodies have begun putting the pressure on Iceland to act. They specifically point out how the country needs to do a better job of minimizing its money laundering risks.

That said, I’m going to discuss where slot machines fit into this agenda. I’ll also cover when these measures could take effect.

Abusing Slot Machines for Criminal Purposes

Slot machines have become quite popular in Iceland. These games also help generate revenue for good causes, including drug treatment, rescue squads, and the Red Cross.

Unfortunately, these games are also be used to abuse international money laundering laws. But how can slots be used for this purpose?

Criminals can take a large sum of money with them to the casino. They can then begin playing slot machines and turning this dirty money into legitimate winnings.

Cash slots give these criminals the chance to earn their wins in paper money. They can also print out winning tickets and use these for tax purposes.

How Can Iceland Stop the Problem with Cash Slots