South Korean Police Dismantle $3.7bn Illegal Gambling Ring
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The post South Korean Police Dismantle $3.7bn Illegal Gambling Ring appeared first on Vegas Slots Online News. South Korean police have made a significant breakthrough in their fight against organized crime, arresting key members of a major Philippines-based illegal online gambling network. The suspects generated a massive estimated betting
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The post South Korean Police Dismantle $3.7bn Illegal Gambling Ring appeared first on Vegas Slots Online News. South Korean police have made a significant breakthrough in their fight against organized crime, arresting key members of a major Philippines-based illegal online gambling network. The suspects generated a massive estimated betting volume of KRW5.3tn ($3.7bn) in just seven months from September 2024 to March 2025. According to the Dong-A Ilbo, the Gangwon Provincial Police Agency reported that the 14 arrests on November 6 targeting the sophisticated, multi-jurisdictional organization represent South Korea’s “first successful takedown of a distribution-level vendor company structure.” collecting monthly fees for 266 of its web
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sites The arrested individuals were part of a highly structured criminal network that built and sold hundreds of specialized, illegal gambling websites. The network generated its monster turnover by collecting monthly fees for 266 of its websites, and featuring targeted, high-volume products, namely live casino feeds and game money supply. For the latter, the suspects directly supplied digital currency to gamblers via illegal channels, while victims could watch pirated live streams from “well-known overseas gaming companies” on the illegal sites, including popular online casino games, such as Baccarat. Seven of the 14 arrested have been formally detained, including the forty-something ringleader who is being held on charges of “forming
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a criminal organization and operating illegal gambling.” Police state that the ringleader hatched the scheme in prison and, upon release, recruited developers and formed an office that fronted as a server rental firm. pursue international warrants or Interpol Red Notices” By arresting key members of this transnational crime syndicate, “including technical personnel and those responsible for finance and marketing” Korea has taken its crusade against illegal online gambling to another level, with authorities expected to “pursue international warrants or Interpol Red Notices for any major suspects who successfully fled the country.” The post South Korean Police Dismantle $3.7bn Illegal Gambling Ring appeared first on Vegas Slots Online News.
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The post South Korean Police Dismantle $3.7bn Illegal Gambling Ring appeared first on Vegas Slots Online News. South Korean police have made a significant breakthrough in their fight against organized crime, arresting key members of a major Philippines-based illegal online gambling network. The suspects generated a massive estimated betting volume of KRW5.3tn ($3.7bn) in just seven months from September 2024 to March 2025. According to the Dong-A Ilbo, the Gangwon Provincial Police Agency reported that the 14 arrests on November 6 targeting the sophisticated, multi-jurisdictional organization represent South Korea’s “first successful takedown of a distribution-level vendor company structure.” collecting monthly fees for 266 of its we
bsites The arrested individuals were part of a highly structured criminal network that built and sold hundreds of specialized, illegal gambling websites. The network generated its monster turnover by collecting monthly fees for 266 of its websites, and featuring targeted, high-volume products, namely live casino feeds and game money supply. For the latter, the suspects directly supplied digital currency to gamblers via illegal channels, while victims could watch pirated live streams from “well-known overseas gaming companies” on the illegal sites, including popular online casino games, such as Baccarat. Seven of the 14 arrested have been formally detained, including the forty-something ringleader who is being held on charges of “formin
g a criminal organization and operating illegal gambling.” Police state that the ringleader hatched the scheme in prison and, upon release, recruited developers and formed an office that fronted as a server rental firm. pursue international warrants or Interpol Red Notices” By arresting key members of this transnational crime syndicate, “including technical personnel and those responsible for finance and marketing” Korea has taken its crusade against illegal online gambling to another level, with authorities expected to “pursue international warrants or Interpol Red Notices for any major suspects who successfully fled the country.” The post South Korean Police Dismantle $3.7bn Illegal Gambling Ring appeared first on Vegas Slots Online News.