Criminals in Ireland will continue to launder innocent people large sums of money as long as the country will proceed without gambling regulator.
Niall Collins, the Limerick County TD said on Monday that for a country like Ireland not to have a gambling regulator is a dangerous omission that has now given criminals a chance to launder money through online bookmakers who in turn have used the criminals to make real money online casino gambling sites a goldmine. Exemption On Australian Online Poker Rejected By Senate Burying The Bill.
The legislator said that unless drastic measures are taken to curb the vice, a lot more people will continue to lose their hard-earned cash through unregulated online betting sites that owned by a few individuals who to get rich quickly through unrealistic and illegal means.
The law on how to regulate gambling activity is conspicuously missing from Ireland’s statute, something that is worrying concerned legislators who now say that a referendum should be conducted to include the clause in the constitution.
“Money laundering has become a major financial problem in Ireland, and if nothing done, the vice is likely to corrupt our economy, and many will lose their jobs at the expense of a few greedy individuals,” said Collins.
He added that he strongly urges his colleagues and the civil society to look into the lives of residents and not the few elite class whose aim is to make as much money as they can leaving many languishing in abject poverty.
“If we are concerned about a clean and moral society where equality and equity co-exist, we need to add our voice to this vice (money laundering) because it is only designed to benefit a few greedy and selfish individuals. At least, we should ensure that online bookies are regulated just as land-based gaming resorts have laws in various states and countries across the world,” Collins added.
It is a formality that if a betting company wants to start a business in Ireland, to acquire a license and the required permits to operate.
With Proper permits there is no single body that has put in place to over checks and balances in Ireland. The Check and balances has led to numerous cases of consumers complaining to the gaming commission that is ‘toothless.’
Even bookmakers are required to report any money-laundering suspect or at least any funny and suspicious transaction.
Money-laundering s has never happened. Instead, a few bookmakers take the advantage to collaborate with criminals to launder money, some of which shared with bookmakers to protect them.