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South Korean authorities investigate six payment firms over illegal gambling

Enforcement & compliance

South Korean authorities have completed a probe into six payment gateway firms accused of facilitating illegal gambling transactions. The Financial Supervisory Service said the firms provided payment infrastructure to criminal organisations involved in sports and casino gambling; investigators allege one company knowingly supported a sports betting operation posing as an online shop.

The probe puts payment processors under scrutiny for their role in enabling illegal gambling transactions.

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Enforcement & compliance

South Korean authorities arrest three suspects in alleged illegal betting operation

South Korean authorities, working with the UAE, arrested three suspects in an operation against an alleged international illegal betting network, reportedly named Halak. Investigators estimated its turnover at about KRW3,100bn ($2.3bn) and identified links to illegal gambling activity in the Philippines and Malaysia. South Korea’s president said the group had allegedly recruited people from vulnerable groups.

South Korean authorities dismantled an alleged international illegal betting organisation with an estimated turnover of about KRW3,100bn ($2.3bn), in an operation carried out with authorities in the United Arab Emirates that led to the arrest of three suspects. The operation was named Halak, according to the report.

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