Vietnam bursts an illegal casino who used to handle bets worth $3 billions - page 6.

bitcoinst

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Quote from: Vishnu.Reang on July 20, 2020, 04:41:06 AM

Quote from: matchi2011 on July 19, 2020, 09:28:03 AM

For sure there's actions that will be taken place, if there's someone who can provide any information or updates
to whatever extent that being implement to those illegal facilitators of gambling business, it's really a big money
behind it, impossible that the exposures will not hit any news around this country.

In countries such as Vietnam, Cambodia and Laos, the gambling industry is mostly owned by the Chinese nationals. In mainland China, gambling is banned. And therefore those who can't travel to Macau normally come to these nations to visit the casinos. It is a mutually beneficial relation, but there are some negatives as well. Growth in organized crime and money laundering are some of the negative side effects.

The most negative side effect of all this is that during such machinations the level of corruption in the country increases at the highest levels, which further spreads to other spheres of government.
Even developed countries face this, but in less developed countries it is a much more serious problem because these countries themselves are poor and the living standards of the population are low.

Vishnu.Reang

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Quote from: matchi2011 on July 19, 2020, 09:28:03 AM

For sure there's actions that will be taken place, if there's someone who can provide any information or updates
to whatever extent that being implement to those illegal facilitators of gambling business, it's really a big money
behind it, impossible that the exposures will not hit any news around this country.

In countries such as Vietnam, Cambodia and Laos, the gambling industry is mostly owned by the Chinese nationals. In mainland China, gambling is banned. And therefore those who can't travel to Macau normally come to these nations to visit the casinos. It is a mutually beneficial relation, but there are some negatives as well. Growth in organized crime and money laundering are some of the negative side effects.

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Quote from: Vishnu.Reang on July 19, 2020, 08:01:18 AM

Quote from: ?? on ??

Is there any update on this, like what is the investigation till now done and how many more arrest or who all were involved were anything disclosed? Also, I guess not much money would be able to recover because they would have already transferred to some safe haven countries and might have diverted somewhere else or invested it.

I haven't heard anything from Vietnam. But in Cambodia, this event resulted in the government coming up with a parliament bill on "commercial gaming management". As per the bill, the Cambodian locals will not be allowed to participate in gambling, and there are additional measures to prevent money laundering through gambling (in both Vietnam and Cambodia, almost all the casinos are owned by the Chinese, and the clientele is also from China).

For sure there's actions that will be taken place, if there's someone who can provide any information or updates
to whatever extent that being implement to those illegal facilitators of gambling business, it's really a big money
behind it, impossible that the exposures will not hit any news around this country.

Vishnu.Reang

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Quote from: ?? on ??

Is there any update on this, like what is the investigation till now done and how many more arrest or who all were involved were anything disclosed? Also, I guess not much money would be able to recover because they would have already transferred to some safe haven countries and might have diverted somewhere else or invested it.

I haven't heard anything from Vietnam. But in Cambodia, this event resulted in the government coming up with a parliament bill on "commercial gaming management". As per the bill, the Cambodian locals will not be allowed to participate in gambling, and there are additional measures to prevent money laundering through gambling (in both Vietnam and Cambodia, almost all the casinos are owned by the Chinese, and the clientele is also from China).

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Quote from: Pamadar on July 18, 2020, 05:27:09 AM

Quote from: Barnabe on July 18, 2020, 03:03:57 AM

Quote from: bitcoinst on July 16, 2020, 02:43:52 PM

Quote from: mezzaluna on July 15, 2020, 07:30:56 AM

-Snip-

Knowing how some Asian communities trust each other and build huge systems only based on trust, it wouldn't surprise me that the whole system was only financed by bets.

With such huge amount of money, it's not just simple bettors who financed this gambling casino, the chance that some big names
from the country's government or someone from local police who are in the underground of this business, there's no plan of registering
since the protectors are in charge maybe it's been detected coming from the behind, no noticed with so whoever that involved that's
the siege went thru without any interferes.

We cant say but in most cases its impossible for government wont able to detect out specially if this one comes really too big or else they've been the ones who had been protecting this thing since from the start
because it wont really be that huge if it doesnt involve lots of people who do play into that illegal casino.

Neither one of those possible scenarios these illegal stuff will surely happen as long it is backed in someone who had a position above.They wont last that long if such protection isnt there.

We dont know if this place do really just trying to avoid tax or just trying to make money since gambling is banned into this country?

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Quote from: Barnabe on July 18, 2020, 03:03:57 AM

Quote from: bitcoinst on July 16, 2020, 02:43:52 PM

Quote from: mezzaluna on July 15, 2020, 07:30:56 AM

That must have hurt lots of investors. The issue of not being registered is also a problem since they are already getting huge amount of profits then they should have just think about getting their Online Casino registered in some way. Its quite true that it will be hard to register because some may not understand how they are doing that online Casino through Cryptocurrency but you should still register it in some way so your money wont be questioned in some way they find it sketchy.

I doubt that they were interested in the registration problem. There are dark spots in this case. When an illegal casino has such a large turnover while it is located on the territory of a country whose laws prohibit their activities, this is often associated with other cash flows. After all, a casino with such large volumes was probably well known.
Perhaps an element of money laundering is involved here, this happens quite often.

Knowing how some Asian communities trust each other and build huge systems only based on trust, it wouldn't surprise me that the whole system was only financed by bets.

knowing that Vietnam created a project where cryptocurrency exchanges are a good big step but when the exchange starts showing scam actions and making Vietnam's reputation bad where the exchange makes many investors trapped because they can't withdraw assets owned by the user The exchange and if there is a cryptocurrency gambling place in Vietnam I will no longer trust it and as much as possible to avoid cryptocurrency transactions from Vietnam.

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Quote from: Barnabe on July 18, 2020, 03:03:57 AM

Quote from: bitcoinst on July 16, 2020, 02:43:52 PM

Quote from: mezzaluna on July 15, 2020, 07:30:56 AM

-Snip-

Knowing how some Asian communities trust each other and build huge systems only based on trust, it wouldn't surprise me that the whole system was only financed by bets.

With such huge amount of money, it's not just simple bettors who financed this gambling casino, the chance that some big names
from the country's government or someone from local police who are in the underground of this business, there's no plan of registering
since the protectors are in charge maybe it's been detected coming from the behind, no noticed with so whoever that involved that's
the siege went thru without any interferes.

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Quote from: bitcoinst on July 16, 2020, 02:43:52 PM

Quote from: mezzaluna on July 15, 2020, 07:30:56 AM

That must have hurt lots of investors. The issue of not being registered is also a problem since they are already getting huge amount of profits then they should have just think about getting their Online Casino registered in some way. Its quite true that it will be hard to register because some may not understand how they are doing that online Casino through Cryptocurrency but you should still register it in some way so your money wont be questioned in some way they find it sketchy.

I doubt that they were interested in the registration problem. There are dark spots in this case. When an illegal casino has such a large turnover while it is located on the territory of a country whose laws prohibit their activities, this is often associated with other cash flows. After all, a casino with such large volumes was probably well known.
Perhaps an element of money laundering is involved here, this happens quite often.

Knowing how some Asian communities trust each other and build huge systems only based on trust, it wouldn't surprise me that the whole system was only financed by bets.

bitcoinst

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Quote from: mezzaluna on July 15, 2020, 07:30:56 AM

That must have hurt lots of investors. The issue of not being registered is also a problem since they are already getting huge amount of profits then they should have just think about getting their Online Casino registered in some way. Its quite true that it will be hard to register because some may not understand how they are doing that online Casino through Cryptocurrency but you should still register it in some way so your money wont be questioned in some way they find it sketchy.

I doubt that they were interested in the registration problem. There are dark spots in this case. When an illegal casino has such a large turnover while it is located on the territory of a country whose laws prohibit their activities, this is often associated with other cash flows. After all, a casino with such large volumes was probably well known.
Perhaps an element of money laundering is involved here, this happens quite often.

AjithBtc

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This is something very interesting, I've come across statements of online casino fraud. Here what have happened is beyond human thinking. With online casinos everything is processed through the internet connectivity. On traditional casinos everything is transparent, upon the same it gains more trust than the online casinos.

Making this an opportunity a team has played good and earned big out of the gamblers who believed and had hope of earning something out of the casinos. It is always good to go with reputed casinos for secured gambling.

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Quote from: Juggy777 on May 31, 2020, 12:04:27 PM

Vietnam authorities are claiming to burst an online casino that used to handle bets worth $3 billion, and what’s surprising is despite getting such huge volumes the casino owner never felt the need to get his casino registered and operate legally.

Further he had deployed a very clever strategy where he had hired people to lure gamblers out, and then he used to pay those people fixed commissions for every deposits the gambler made through them.

Lastly I would request you’ll to wager only on reputed casinos, and check their history before you wager otherwise you may end up loosing your funds to fraudulent online casinos.

Sources:

https://calvinayre.com/2020/05/31/business/vietnam-biggest-ever-online-gambling-bust/

https://www.gamblingsites.com/online-casino/safe/ (Ignore those banners and links, but read those pointers)

That must have hurt lots of investors. The issue of not being registered is also a problem since they are already getting huge amount of profits then they should have just think about getting their Online Casino registered in some way. Its quite true that it will be hard to register because some may not understand how they are doing that online Casino through Cryptocurrency but you should still register it in some way so your money wont be questioned in some way they find it sketchy.

Vishnu.Reang

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Quote from: Shasha80 on July 07, 2020, 05:10:41 PM

Therefore in choosing an online casino we must be careful and conscientious. Not only choose based on reviews and total volumes.
But we should also check the profile of the owner and company, if the legality is guaranteed it's even better. Online casinos fraud
incident it has often happened and not only in Vietnam, but throughout the world. Then increase our vigilance in choosing online
casinos.

It is almost impossible to verify the owners of online casinos, unless they themselves come forward. In most cases, online casinos are registered in off-shore countries such as Cayman Islands and Turks and Caicos, whether it is not required to go through the KYC process. As a result, the owner remains completely anonymous, unless some individual or group busts that anonymity.

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Quote from: peter0425 on July 07, 2020, 07:46:46 AM

Quote from: ethereumhunter on July 07, 2020, 07:24:56 AM

That is what we see in reality. I mean, the politicians will have their illegal business, and I think that is happening in many countries. We can not deny that because we even know that in many countries, some politicians corrupt still free from the law. Yes, they also have legal business besides the illegal, and they are smart enough to hide their illegal business from the others.

as long as there are Large amount of money at stake?this RedTape will never be stopped.

I have been living in this kind of government for so many years but Lucky that our president now hate this so much so there are being Held in Jail because of similar offenses.

But i have a Big respect to the authority that arresting their co uniformed personnel.

That is right. That is hot money that many people, including officials from the corrupt government, want because if they can get that, that will become an additional income. I also give my biggest respect and salute if there is an honest official who will work for the people because it is very difficult to find that person.

Quote from: travwill on July 07, 2020, 03:33:25 PM

Quote from: ethereumhunter on July 07, 2020, 07:24:56 AM

That is what we see in reality. I mean, the politicians will have their illegal business, and I think that is happening in many countries. We can not deny that because we even know that in many countries, some politicians corrupt still free from the law. Yes, they also have legal business besides the illegal, and they are smart enough to hide their illegal business from the others.

This is a common practice. Most of all I am shocked that the biggest crimes, especially financial ones, can never do without the participation of people in power. Moreover, the highest ranks.
The largest drug traffickers of all countries are always controlled by someone from the government, only then go the police who turn a blind eye to certain crimes. I believe that such things are a crime against humanity.

For ordinary people, that will be the biggest crime, but for them, it's like a normal, and they will search for other sources to get that money. Yes, it is what happens in almost all countries, and almost all of the government against them, and they still try to chase them.

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Quote from: Shasha80 on July 07, 2020, 05:10:41 PM

Therefore in choosing an online casino we must be careful and conscientious. Not only choose based on reviews and total volumes.
But we should also check the profile of the owner and company, if the legality is guaranteed it's even better. Online casinos fraud
incident it has often happened and not only in Vietnam, but throughout the world. Then increase our vigilance in choosing online
casinos.

A certain gambling websites cannot operate properly if they do not have license or fulfilled the regulations and rules of the government. Every countries have different laws and regulations about online gambling so whenever we will try a new online gambling, we should make sure that it fulfilled all the requirements and it legal to operate in order for sure that our money are safe.
This kind of news are not unique anymore because in the past there are a lot of illegal gambling even if it is physical or online that are been raid and foreclosed by the government because it doesn't have papers to legally operate in their country.

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lol reminds of packino in japan. its borderline stuff pretty funny points for money around corner

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Therefore in choosing an online casino we must be careful and conscientious. Not only choose based on reviews and total volumes.
But we should also check the profile of the owner and company, if the legality is guaranteed it's even better. Online casinos fraud
incident it has often happened and not only in Vietnam, but throughout the world. Then increase our vigilance in choosing online
casinos.

travwill

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Quote from: ethereumhunter on July 07, 2020, 07:24:56 AM

That is what we see in reality. I mean, the politicians will have their illegal business, and I think that is happening in many countries. We can not deny that because we even know that in many countries, some politicians corrupt still free from the law. Yes, they also have legal business besides the illegal, and they are smart enough to hide their illegal business from the others.

This is a common practice. Most of all I am shocked that the biggest crimes, especially financial ones, can never do without the participation of people in power. Moreover, the highest ranks.
The largest drug traffickers of all countries are always controlled by someone from the government, only then go the police who turn a blind eye to certain crimes. I believe that such things are a crime against humanity.

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Quote from: Vishnu.Reang on July 05, 2020, 07:50:15 AM

Quote from: South Park on July 03, 2020, 10:39:35 AM

Exactly, it is impossible to run such a large operation without the authorities knowing, it is true that governments can be really incompetent but with such a large operation they are bound to eventually know about it especially if powerful politicians played on that casino, as such it will be interesting to know if there was a recent shift in the political power in that area or if simply one of the two sides became too greedy and wanted all the money for themselves causing the other side to take some action.

In all probability what happened is that the officials became more greedy and asked the casino operators for a larger cut. But the latter refused and it resulted in all the raids and arrests. Now another set of drama will unfold. The casino owners are going to extract revenge and they would publicize the names of all those officials who were on their payroll. And once this happens, some of the smart guys will come up for negotiation, to make a deal between the two parties. We have seen all this many times before.

There is a high likelihood you are right, most likely whoever was getting bribed to turn their eye away became greedy and asked for more money and when this was denied he went against the casino and its owners, what I do not understand is why anyone that had the money and the skill to run such a complex operation decided to do something illegal, they could as easily established a casino in a country where this activity was legal and make money without having to worry about getting caught by the police.

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Quote from: South Park on July 03, 2020, 10:39:35 AM

Quote from: bitcoinst on June 29, 2020, 04:59:21 PM

Quote from: kawetsriyanto on June 25, 2020, 05:28:26 PM

~snip

Exactly, it is impossible to run such a large operation without the authorities knowing, it is true that governments can be really incompetent but with such a large operation they are bound to eventually know about it especially if powerful politicians played on that casino, as such it will be interesting to know if there was a recent shift in the political power in that area or if simply one of the two sides became too greedy and wanted all the money for themselves causing the other side to take some action.

It is likely that to all this lies a division of power to one degree or another. Both options are not excluded. We don’t know what kind of money went through this casino.
After all, if it was money from drug dealers, it is possible that in this way the government carried out a shadow operation against drug trafficking in the country.

Such major events always have a double bottom.

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Quote from: ethereumhunter on July 07, 2020, 07:24:56 AM

Quote from: Vishnu.Reang on July 06, 2020, 08:24:02 AM

Quote from: ?? on ??

Maybe, but we don't know for sure. If there is a top people in there, they will not show themselves and will stay behind the radar because that can make suspicious to the others. The drugs, money laundering, could be the reason for that, but I don't think that it is easy to reveals. I wonder if the money will be at the government's hand, and the people can not do anything.

Even in my country, many of the illegal operations are owned by proxies of well known politicians. For example, one of the state ministers recently purchased a famous hospital in my area for around $30 million USD (it is not an illegal operation, and I quoted it just for giving an example). And in most cases, the issues arise when the politician loses his power, and still try to cling on to the business.

That is what we see in reality. I mean, the politicians will have their illegal business, and I think that is happening in many countries. We can not deny that because we even know that in many countries, some politicians corrupt still free from the law. Yes, they also have legal business besides the illegal, and they are smart enough to hide their illegal business from the others.

as long as there are Large amount of money at stake?this RedTape will never be stopped.

I have been living in this kind of government for so many years but Lucky that our president now hate this so much so there are being Held in Jail because of similar offenses.

But i have a Big respect to the authority that arresting their co uniformed personnel.

Topic: Vietnam bursts an illegal casino who used to handle bets worth $3 billions - page 6. (Read 3550 times)