Vietnam police have announced arrests in a vast money laundering case and an illegal sports betting operation.
Vietnam law enforcement have announced the shutdown of a billion-dollar money laundering operation linked to online gambling. It followed the bust of an illegal sports-betting ring that reaped millions.
On 23 January, AFP reports, officers in Danang arrested five people in the money laundering case, which brought VND30 billion (£960.9 million/€1.14 billion/$1.2 billion) in tainted funds into Vietnam.
Between 2022 and 2024, the sophisticated gang, which included bank employees, used fake IDs, business registration certificates and bank seals to establish 187 phony businesses holding 600 corporate bank accounts.
Through the accounts, they washed money that originated in offshore gambling and fraud. Police called it the biggest money laundering case in the city’s history.
Black market sports betting takedown
The news comes on the heels of another gambling-related raid. On 2..