Cambodia and Laos casinos targeted for drug-trade money laundering

[geovalin]

BANGKOK -- Anti-narcotic investigators are searching for signs of money laundering in the casinos that have spread across Sihanoukville, a Cambodian coastal city that has become a magnet for Chinese high-rollers, amid the booming methamphetamine market in Southeast Asia.

 

The United Nations Office on Drugs and Crime estimates the region's meth market -- Southeast Asia is the world's epicenter of the synthetic drug -- to be valued at $ 61.4 billion annually, more than double the Cambodian economy of $24 billion.

 

"The casinos in Sihanoukville are now worth looking into, as you have currency exchanges in all of them, and there are currency wire services just next to the gambling tables," an international investigator told the Nikkei Asian Review. "All the punters are Chinese and they gamble with thick stacks of 100 dollar bills."

 

read more https://asia.nikkei.com/Economy/Cambodia-and-Laos-casinos-targeted-for-drug-trade-money-laundering

[Deli]

And the Government takes profit of it. Nothing new.

[NotYourBusiness]

They said BITCOIN was dangerous because it could be used for money laundering. Now we know the biggest problem by far is the US dollar. Ban it!

[phycokiller]

it obvious the chinese built all those casinos to launder money, cambodia uses US$ so is prefect. Im not so sure about the meths, I think its all bath salts and MSM, neither of which is illegal, maybe the UN should start testing it

Edited August 1, 2019 by phycokiller

[flyingtlger]

What???  This is unheard of......New news?!

 

 

[from the home of CC]

Chinese did the same in BC casinos/properties in Canada to wash fentanyl profits - biggest dope dealers in the world, starting to make the Mexicans look like amateurs..

[ThomasThBKK]

The whole point of these shit casinos is to launder money or move it around the world.

 

You lose your cash in one place and get a credit in another place, casino gets a share...Thats what all chinese high rollers do, they have no interest in gambling.

[my friend I]

2 hours ago, phycokiller said:

it obvious the chinese built all those casinos to launder money, cambodia uses US$ so is prefect. Im not so sure about the meths, I think its all bath salts and MSM, neither of which is illegal, maybe the UN should start testing it

I'm sure these guys are just trying to save money on ATM fees

 

Despite the spate of recent arrests at Cambodian airports of travellers from Hong Kong with large amounts of cash from unknown sources, they continue to repeat the offence, with three Chinese nationals detained on Tuesday with almost $1 million.

The Chinese nationals were held at Phnom Penh International Airport after having landed in Cambodia from Hong Kong with $900,000 in cash.

 

 A Chinese welder, 48, who is suspected of attempting to launder money was arrested by Phnom Penh municipal authorities on Wednesday night after he was found entering Cambodia with $855,000.

The Chinese national was detained at Phnom Penh International Airport after he was found attempting to smuggle the cash into Cambodia from Hong Kong.

 

[phycokiller]

9 hours ago, my friend I said:

I'm sure these guys are just trying to save money on ATM fees

 

Despite the spate of recent arrests at Cambodian airports of travellers from Hong Kong with large amounts of cash from unknown sources, they continue to repeat the offence, with three Chinese nationals detained on Tuesday with almost $1 million.

The Chinese nationals were held at Phnom Penh International Airport after having landed in Cambodia from Hong Kong with $900,000 in cash.

 

 A Chinese welder, 48, who is suspected of attempting to launder money was arrested by Phnom Penh municipal authorities on Wednesday night after he was found entering Cambodia with $855,000.

The Chinese national was detained at Phnom Penh International Airport after he was found attempting to smuggle the cash into Cambodia from Hong Kong.

 

yes, Im not sure how they do it, but how do the chinese that built all those casinos expect to make a profit if chinese tourists are only allowed to bring in small amounts of money?

[CNXexpat]

Money laundering in casinos? Wow, that´s new. The Chinese always have the best ideas. ???? 

[CNXexpat]

20 minutes ago, phycokiller said:

chinese tourists are only allowed to bring in small amounts of money?

There is a difference between what´s allowed and what they are doing. By example: in Thailand it´s not allowed to drive a motorcycle without driver license and without helmet - you know what I mean.  

[phycokiller]

14 hours ago, CNXexpat said:

There is a difference between what´s allowed and what they are doing. By example: in Thailand it´s not allowed to drive a motorcycle without driver license and without helmet - you know what I mean.  

well yeah, but if you illegally have a million dollars on you I think the policeman will be keeping that thanks, so Im not sure how they get the money thru, but obviously those casinos wouldnt have been built if there wasnt a way

 

but I guess the problem isnt getting it in to cambodia, the problem is getting it out of china

 

Edited August 2, 2019 by phycokiller