Unregulated Online Gambling in Ceuta Linked to Moroccan Money Laundering Schemes

People interested in online gambling can indulge in it safely, in compliance with the laws and regulations in force. But in some countries, as is the case in Ceuta, these games are not regulated, a legal loophole exploited by companies, including those coming from Morocco, to launder money.

The president of the autonomous city, Juan Jesús Vivas, introduced a tax reform in 2017 to attract investors, offering them tax advantages and facilities to move foreign capital. This reform has become an open door to money laundering for online gambling companies, even those that are not legally registered, reports Ceuta Actualidad.

To carry out their money laundering operations, some of these online gambling companies use the same addresses, others are not accredited and very few are registered in Spain and declare their activities. The business leaders responsible for these online gambling companies create other front companies in the fields of advertising, technology and computing.

The companies hire people to place bets with credit cards and cryptocurrencies where they compete with fake players. The money is then laundered between several users in different countries in Europe and Asia. These people operate under false identities or those of deceased persons. The laundered money comes from drug trafficking, terrorism and criminal groups.