Cyprus to Organize Inspection of Junket Tour Companies
The gambling industry in Cyprus is quite young. The opening of casinos on the island was only permitted a few years ago. Recently, the agency that oversees the gambling industry in Cyprus has hired three international companies that will check companies that organize junket tours to the island. The companies that will be checked are those that are going to enter into partnership agreements with the first complex in Cyprus – City of Dreams Mediterranean. It will be put into operation in 2021.
It is known that the companies involved are engaged in the verification of large gambling industry operators around the world. Since in recent years there have been many questions about the origin of their funding for companies organizing junket tours, such verification is necessary. Such companies are suspected of the following:
- money laundering;
- cooperation with representatives of organized crime;
- financing arms dealers and terrorists, etc.
As can be seen from this small but very serious list, the claims against the companies are very significant. Accordingly, the authorities of Cyprus, where the gambling industry has only recently been legalized, understand that such a tasty morsel as an island with still unestablished gambling traditions is very interesting to criminal groups.
According to reliable sources, the gambling agency is in the final stages of negotiations with companies that will conduct a detailed check of firms that have expressed a desire to work on the island as organizers of junket tours. According to statements from the agency, the country hopes that Cyprus casinos will operate on the basis of international standards.
The first operator to receive permission to organize gambling on the island was a Hong Kong company. As is known, organized crime is quite developed in the Asia-Pacific region. Its sphere of influence includes gambling establishments. The Cypriot authorities do not want the criminal traditions of Asia to appear on the island, which served as a reason for checking companies planning to organize junket tours in the region.
