Is it this? I thought it was identifying documented cases of fraud used to illegally obtain funds and not specifically about gambling addicts or people with bank blocks. This is what I mean with Casino Guru - masking transactions in this way is fraud, pure and simple, and these companies are still being rated as "trustworthy".
https://complyadvantage.com/insights/transaction-laundering/
https://www.idenfy.com/blog/examples-of-money-laundering/#:~:text=Typically%2C%20criminals%20mask%20the%20illegal,%E2%80%9Clegitimate%2C%E2%80%9D%20clean%20funds.
From various sources -
Misrepresentation and Deception: The primary issue with transaction masking is that it misrepresents the true nature of a transaction to the cardholder, the card issuer, and the payment processor. This deception can be used to bypass security measures, avoid fees, or conceal illicit activities.
Violation of Merchant Agreements: Merchants typically agree to process transactions accurately and transparently when they sign up with payment processors. Transaction masking violates these agreements and can lead to penalties, fines, or even termination of merchant accounts.
Facilitating Illegal Activities: Transaction masking is often used to facilitate illegal activities, such as money laundering, illegal gambling, or the sale of prohibited goods and services. By disguising the true nature of the transaction, criminals can avoid detection and move money illicitly.
Consumer Protection: Transaction masking can harm consumers by making it difficult to track their spending, identify fraudulent charges, or dispute transactions. It can also lead to higher fees or interest rates if the masked transaction is processed under a different merchant category code with higher charges.
Legal Consequences:
The legal consequences of transaction masking vary depending on the jurisdiction and the specific circumstances. However, it can lead to:
Criminal charges: In some cases, transaction masking can be prosecuted as a criminal offense, such as fraud, money laundering, or racketeering.
Civil lawsuits: Consumers and businesses harmed by transaction masking can file civil lawsuits to recover damages.
Regulatory fines: Payment processors and merchants involved in transaction masking can face significant fines from regulatory agencies.
Reputational damage: Businesses caught engaging in transaction masking can suffer severe reputational damage, leading to loss of customers and business opportunities.
Examples of Illegal Transaction Masking:
Disguising adult content: An adult website might use a different merchant code to process payments, making it appear as if the customer purchased something else.
Hiding gambling transactions: An illegal or offshore gambling website might mask transactions as online purchases to avoid detection by banks and authorities.
Laundering money: Criminals might use transaction masking to move money from illegal sources through legitimate businesses, making it appear as if the funds came from legal transactions.
Is there anything else we need to add here? The sites are still being given trustworthy ratings when there is clear identifiable evidence of fraud and money laundering.
I was describing what it is from the perspective of this forum and the player I was responding to. As you can see in this very thread, the situation does not follow concrete procedures or laws. On the other hand, I do not see it as fair if a player who has played without any restrictions has won or rather lost fairly and now seeks a way to get back deposits. That's the difference I was talking about.
Of course, using such merchants is a gateway for casinos missing a local license. To me, this is obvious; on the other hand, not every situation is the same.
Poderiam ser estes? Proprietários letões 😵💫
