INTERPOL chief Jean Michelle Louboutin says massive earnings lay behind the cross-continental gambling crackdown that is illegal.
INTERPOL has announced the arrests of 1,400 people across East Asia; the result of a campaign that is six-week split up illegal gambling sites in the region. The operation, code-named Operation SOGA V, was a effort that is joint law enforcement from China, Hong Kong, Macau, Malaysia, Singapore and Vietnam, and coordinated by INTERPOL, and saw the seizure of almost $12 million.
Illegal gambling is rife in East Asia, and bets put through the wagering syndicates, which can be controlled by organized crime, dwarf the legal European and North American gambling markets many times over. That it could be around $450 billion because it is clandestine and unregulated, it’s difficult to place a figure in how much the market is actually worth, but Foreign Policy magazine recently estimated.
It’s also believed that $140 billion in dirty cash is laundered through the market every year. INTERPOL said this week that the organizations broken up within the latest raid were estimated to possess handled around $2.2 billion worth of bets, most of those through illegal online gambling sites.
‘ The results with this latest procedure SOGA are significant in relation to the volume of bets being handled by these illegal gambling dens, as well as the number of arrests,’ said Jean-Michel Louboutin, INTERPOL’s executive dir Continue reading “INTERPOL Swoops Down in Illegal Gambling Crackdown”