INTERPOL chief Jean Michelle Louboutin says massive earnings lay behind the cross-continental gambling crackdown that is illegal.
INTERPOL has established the arrests of 1,400 people across East Asia; the result of the six-week campaign to split up illegal gambling companies in the region. The operation, code-named Operation SOGA V, was a joint effort between police 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 wagers put through the gambling syndicates, which are often controlled by organized crime, dwarf the legal European and North American gambling markets many times over. Because it is clandestine and unregulated, it’s difficult to place a figure in just how much the market is actually worth, but Foreign Policy mag recently estimated that it could be around $450 billion.
It’s also believed that $140 billion in dirty cash is laundered through industry each year. INTERPOL said this week that the organizations split up within the latest raid were estimated to have handled around $2.2 billion worth of bets, most of those through illegal online gambling sites.
‘ The results of this latest Operation SOGA are significant with regards to the quantity of bets being handled by these illegal gambling dens, along with the number of arrests,’ stated Jean-Michel Louboutin, INTERPOL’s executive director Continue reading