CEUTA’S ONLINE GAMBLING INDUSTRY FOSTERS CROSS-BORDER MONEY LAUNDERING

On 15 January, Morocco World makes this claim in an article saying that the Spanish-controlled city of Ceuta, in northern Morocco, has turned into a main destination for European online gambling companies.  However, many of the businesses serve as a facade for money laundering schemes, according to an investigation by El Espanol.  This details how recent tax reforms in Ceuta are said to have turned the city into a fertile ground for money launderers.  These individuals pay only half the taxes in the autonomous city compared to what they would have to pay in mainland Spain.  According to El Espanol, many of the online gambling companies in Ceuta serve as a cover for large money laundering operations.

https://www.moroccoworldnews.com/2021/01/331953/ceutas-online-gambling-industry-fosters-cross-border-money-laundering/

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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