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  1. Criminal groups are increasingly using cryptocurrency for global illicit fund movement, including mining and money laundering.

Curaçao Casino Owner Linked to Past Money Laundering Investigation

1 report, 1 independent Updated Wed 00:00
AI-generated briefing. Brind wrote this from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.

What happened

Some supportReported by 1 outlet

An investigation by Follow the Money found that Nicholas Beugg, who was previously investigated in a United States money-laundering case dating back to 2017, is an owner of Blaze, an online gambling platform. This platform operates under a license from Curaçao and generated hundreds of millions of euros in profits in Brazil. The investigation concluded that the individuals in the past US case and the current casino owner were the same person, raising questions about the background screening procedures used by the Curaçao gambling regulator.

From curacaochronicle.com

Why it matters

Some supportBrind's analysis of the reports

The event highlights how criminal groups may use cryptocurrency, such as Bitcoin, for global illicit fund movement. The findings question the effectiveness of regulatory oversight in the online gambling industry, which relies on jurisdictions like Curaçao for licensing.

Criminal groups are increasingly using cryptocurrency for global illicit fund movement, including mining and money laundering.

From curacaochronicle.com

Who's involved

  • Nicholas BeuggIdentified as an owner of the online gambling platform.
  • CuraçaoProvides the regulatory license for the online gambling platform to operate.

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