The Financial Action Task Force (FATF) has published a report on money laundering, terrorist financing and proliferation financing risks in the gambling sector. The document updates a 2009 analysis and draws on data from 80 jurisdictions and 29 additional submissions.
Land-based and online casinos, along with sports betting, showed the highest exposure to money laundering risks. Lotteries and scratch cards were assessed as lower risk. More documented cases of terrorist financing were recorded in online gaming than in gambling. Proliferation financing risks in both segments remain limited.
Cash, e-wallets, mobile payments and virtual assets are particularly vulnerable to abuse. Risk increases when transactions are split into small deposits below reporting thresholds.
FATF President Giles Thomson said unregulated segments are becoming 'attractive gateways for fraudsters, professional money launderers and organised criminal networks'. He called for stronger supervision, action against illegal and offshore operators, and broader public-private sector cooperation.
Danish regulator Spillemyndigheden confirmed its participation in the FATF working group and noted that many indicators from the report are relevant to Denmark-licensed operators. In 2025, the regulator blocked 178 unlicensed sites through court action — the largest operation against illegal gambling. The case revealed the use of different site versions to mask activity, a tactic FATF also flags as a red indicator.
FATF uses grey and black lists to identify jurisdictions with weak AML and CFT controls, leading to enhanced monitoring and reputational consequences.
