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Expert Analysis

The Money Laundering Potential Of Fantasy Sports Sites

Law360, New York (November 6, 2015, 10:20 AM EST) -- This article addresses the explosion in popularity of daily fantasy sports sites and the money laundering potential that DFS sites may offer to criminals around the world. It then explains potential legal liability under the Bank Secrecy Act that financial institutions could face if adequate anti-money laundering controls and reporting mechanisms are not in place to handle the growing risk. It concludes with specific points to consider when dealing with the AML risks posed by doing business with DFS sites or their users....

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