Money laundering is a huge industry. Shows like Breaking Bad and Ozark portray money laundering in this cinematic and mesmerizing light, but there are true horrors that it leaves in its wake. For example, housing prices increased 5 percent in British Columbia, Canada due to more than $5 billion in laundered money moved through the province’s real estate in 2018 a government report found. With money laundering being such a big problem, what can be done to combat it?
Tech and software company AXES is already using their software to help prevent money laundering in the gaming industry globally. They use AI technology to interpret billions of pieces of player, machine, time, and space data to create value, streamline operations while simultaneously working to remove fraud, theft and money laundering. Their modernized tech can also prevent addictive gambling, shifting the narrative towards responsible gaming.
“Why is anonymous cash accepted in a casino in 2022? In a binary world, if it is not KYC (Know Your Client) checked… it is money laundered.” explains Earle Hall, CEO of AXES.
With all of this money laundering that takes place any and everywhere, what exactly can be done to combat it?
Hall goes on to say, “At AXES, we have made it our life’s work to create the most cutting-edge technology to eliminate money laundering and addictive gambling in the land-based casino Industry. Once all the bad is eliminated, all that is left with the AXES platform is real-time, deep, rich data that can be used in a SAFE cashless KYC environment to create a pristine and memorable customer experience, engagement, and lasting loyalty. It is time for the land-based gaming industry to eliminate the bad and embrace the good as cashless KYC is the foundation for legitimacy, transparency, and fun.“
Their mission is simple. AXES wants to change the narrative from gambling to gaming, while assisting both businesses and their customers. They seek to improve the business side of things by reducing fraud, money laundering and theft while also helping customers engage in a responsible, cashless gaming environment that reduces gambling addiction and the potentially harmful patterns associated with it.
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