Bookies may have to ID big betters in money-laundering clampdown

Around 97 per cent of €2.7 billion-worth of bets in bookmakers’ offices are in cash

20th November, 2016

Bookmakers could be forced to seek ID from people who place large bets.

Gardaí say bookies’ offices are vulnerable to being exploited by money launderers, particularly given that suspected criminals are known to use them.

Around 97 per cent of €2.7 billion-worth of bets in bookmakers’ offices are in cash and no customer ID is required.

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

Analysis: Draft legislation brings individual accountability for financial sector misconduct a step closer

Analysis: The gap between winners and losers in retail is stark

Vincent Boland: Tycoon space race is boldly going where many have gone before

Matt Cooper: O’Malley was a giant who did the state some service