Vietnam police bust US$1.2 billion illegal gaming operation
Police in Vietnam recently took down an international crime operation that was alleged to have been involved in illegal gaming, online fraud, and money laundering.
Five individuals were arrested, and officials seized a large amount of cash which was believed to have been illegally obtained. The criminal network, believed to have operated between 2022 and 2024, reportedly brought in and laundered around US$1.2 billion.
According to World Casino News, the bust occurred in the Vietnamese coastal city of Da Nang. It is thought to be the largest money laundering operation uncovered in the city and one of the biggest in the country to have been shut down by police.
The operation involved over 187 registered businesses and 600 bank accounts, allegedly laundering money through fraud and online casinos.
In recent years, money laundering and illegal gaming have become significant issues across Southeast Asia and Vietnam.
Vietnamese officials have been cracking down on laundering schemes in recent years, with real-estate businesswoman Truong My Lan sentenced to life in prison in October after investigators uncovered over US$27 billion in bank embezzlement.
