Gregory Petts has been named the new Chairman at the Isle of Man Gambling Supervision Commission (GSC). Appointed by the Isle of Man Treasury, Petts will now ensure that the organisation upholds high standards of regulation in the gambling sector, as well as accountability and oversight to balance needs with safety. The new Chair has had a diverse career, having…
PAGCOR has issued a bleak warning to the public against offers being made by operators with fake offshore gaming licences.
The Philippines’ regulatory body claims that the Lucky 7 Bingo Corporation, which holds a legitimate E-Games venue licence, has been engaging in contact agreements with individuals under the guise of offering “guidance and support to potentially earn Php50,000 (£670.50) through the Lucky 7 Bet Lottery Platform”.
As part of the bogus agreement, bettors are reportedly required to make an upfront initial cash deposit of Php3,000 (£40).
PAGCOR confirmed that the licence referenced in these agreements is a fake offshore gaming licence, given that all offshore gaming operations, known as POGOs, have been banned in the Philippines since the end of 2024.
Atty Jessa Fernandez, Head of PAGCOR’s Offshore Gaming and Licensing Department, warned: “We urge the public to remain vigilant and always verify the legitimacy of a PAGCOR-licensed gaming entity before entering into a..
Australia’s financial intelligence agency, AUSTRAC, has announced that it will expand its intelligence partnership, Fintel Alliance, after it has proved essential in fighting financial crime.
Fintel recently launched a campaign on scambling – described as a practice where unlicensed online gambling platforms advertise on social media and trick people to visit a scam website to participate in gambling.
Fintel Alliance member and NAB Chief Financial Crime Risk Officer, Paul Jevtovic, detailed: “The nature of scambling – frequent small transactions – means it isn’t traditionally captured by mandatory reporting.
“However, combining data from multiple sources about cash transactions less than $10,000 allowed Fintel Alliance to more rapidly understand the nature and extent of criminality resulting in timely dissemination amongst members.
“I’ve seen this partnership and capability evolve since 2017 and its expansion is a modern approach not only to intelligence gathering, but more responsive regulation.”
Keeping up with an evolving industry
Over the past few years, there has been an increase in suspicious financial activity in the Australian betting market.
Bradley Brown, AUSTRAC Manager of Regulatory Operations, explained: “There are many legitimate people who seek to gamble and we are not necessarily against the gambling sector, it’s more about managing the risk when it does occur.”
Meanwhile, Brendan Thomas, AUSTRAC CEO, said the Intelligence Division’s Fintel Alliance has been so productive that the agency will make its collaborative data analytics hub a ‘central function’ from now on.
In detail, the move has generated real intelligence across a range of serious crimes including money laundering, child sexual exploitation, domestic violence, tax evasion, fraud and illegal phoenixing.
“For example, late last year we worked with our partners using the collaborative data analytics hub,” added Thomas. “We obtained all cash deposit transaction data under $10,000 from the four largest banks and jointly looked for criminal patterns. We had more than 50 million data points.”
The organisation went on to explain that the nature of scambling is frequent small transactions, which means it isn’t traditionally captured by mandatory reporting.
However, combining data from multiple sources about cash transactions less than $10,000 allowed the intelligence unit to quickly understand the nature and extent of criminality.
Fintel Alliance Executive Board Co-Chair and ANZ Group Head of Financial Crime Risk, Cassandra Hewett, noted: “The breadth of industry involvement reflects the value the financial industry sees from the public-private partnership.”
She highlighted that criminals are adept at finding weak points, adding: “By working together to develop and use new tools, technologies and fresh approaches to combat crime we can strengthen the ecosystem we all operate in.”
A major period has commenced around the Indian iGaming market, as debate over the GST framework takes centre stage amongst government officials and iGaming operators.
The 28% GST tax levy has caused much debate in India, with operators departing the regulated market and the black market continuing to grow.
As reported by media outlet, The Hindu, the debate this week could have a key impact on the future of gambling within the Indian market.
The debate looks to tackle the issue of which games fall under the umbrella of the levy, with the senior advocate A.M. Singhvi underpinning his views that the character of the game isn’t altered simply because money is wagered.
His case has been put forward as the debate lines are intensifying between games of skill and games of chance, with the Government stating that skill games should transition into a new genre once bets have been placed on them.
Singhvi responded: “Is the government saying that in chess, the moment I put money on it, ..
Previous UN reports have underpinned the connection between crime syndicates utilising the casino sector to launder money in Southeast Asia, however, they are now issuing a stark warning over the expansion efforts of these gangs.
The desire for expansion has largely been fuelled by intensified regulatory action across Southeast Asia, embodied by the widespread efforts to combat gangs in the Philippines.
Benedikt Hofmann, UNODC Acting Regional Representative for Southeast Asia and the Pacific, commented: “We are seeing a global expansion of East and Southeast Asian organised crime groups.
“This reflects both a natural expansion as the industry grows and seeks new ways and places to do business, but also a hedging strategy against future risks should disruption continue and intensify in the region.”
“It spreads like a cancer,” Hofmann added. “Authorities treat it in one area, but the roots never disappear; they simply migrate. This has resulted in a situation in which the region h..
Entain Plc’s Australian subsidiaries have been accused of significant compliance liabilities which have been abused to facilitate criminal activities and money laundering.
An Austrac report seen by the Australian Financial Review detailed failures which occurred at its Neds and Ladbrokes AUS brands, and the group’s subsequent exposure to money laundering liabilities and fraud by criminal accounts.
According to the report, Austrac alleged that the company fell way short in its AML procedures specifically around betting activity of players that had significant links to drug trafficking.
The Austrac allegations assert that Entain failed to take action in spite of knowing that the player in question was a wanted suspect when it came to the global drugs trade.
It’s alleged the company failed with its intervention process, even when the player had wagered in excess of $1 million over a year-long period.
Incidents between 2015 and 2022 saw Entain accused of elevating the risk and vuln..
Ryman Racing, trading as Colossalbet, has been hit with regulatory action after posting prohibited gambling advertisements to social media. The Australian operator was fined AU$60,000 (£29,000) by a Magistrate at Downing Centre Local Court on 31 March. The court concluded that five of its posts across Facebook and Instagram pages failed to meet standards of ‘decency,…
A number of prominent Indian actors have been accused of “accepting huge sums of money” to promote illegal betting platforms.
As reported by The Tribune in India, a case under relevant sections of India’s BNS, Gaming Act and IT Act has been registered against six actors and 19 social media influencers.
The issue was brought to the attention of the authorities by an unnamed businessman who claims that he came across those accused actively promoting the platforms on social media via pop-up ads.
“These platforms are encouraging [the] public, especially people who are in dire need of money, to invest their hard-earned money in those apps/websites. Slowly they get addicted to these apps, leading to financial distress,” claimed the businessman in his first information report (FIR) submitted to the Indian police.
According to the Miyapur Police Station, the case includes actors Rana Daggubati, Prakash Raj and Vijay Deverkonda – stars of cinema in the Telugu language.
The businessman h..
Japan is set for a new framework around its gambling sector as Prime Minister Shigeru Ishiba’s Cabinet approved a new focus on tackling addiction in the country.
As first reported by the Japan Times, central to the plans is the extended effort to take action against affiliates that promote gambling.
During a news conference following the discussions around the new bill, Yoshitaka Ito, the minister in charge of measures to combat gambling addiction stated: “There are strong indications the number of people accessing online casino sites is increasing.”
He added that he believes this is fuelling issues of gambling addiction within the country.
Noriko Tanaka, representative director of The Society Concerned about the Gambling Addiction, has continued to call for more intensive measures when it comes to the framework around iGaming.
She urged the government to take legislative action and tighten guidelines for the space.
Furthermore, there will also be strengthened efforts aroun..
A lucrative gambling ring in Vietnam, which enabled players to bet in digital currencies and stablecoins, has been unearthed by police.
Reported by VN Express, it was revealed that as a result of the $3.8bn gambling ring being uncovered, four siblings have been placed under arrest in the region – pending further investigations into the alleged crimes.
The ring allowed bettors to engage with the illegal market through ETH and Naga tokens, as well as the most popular global stablecoin by market cap, USDT.
Variety utilised within the currencies being offered underlines how widespread the operation is and the full spectrum of demographics that it caters to.
The usage of USDT also emphasises a desire to engage players that aren’t versed with the crypto space or shy away from the volatility, given USDT pegged against the US Dollar to provide stability associated with fiat currencies. Furthermore, it also raises questions being asked by leaders in global markets that have touted the po..