Vietnamese police recently uncovered a massive money laundering scheme linked to online gambling. Those involved in the operation set up 187 fake companies and opened 600 bank accounts.
The gang laundered around $1.2 billion (VND 30 billion). The investigation began with a raid in Danang, where five individuals were arrested. The operation lasted from 2022 to 2024.
Money was laundered using forged IDs, business certificates, and bank seals, helping to mask funds originating from offshore gambling and fraudulent activities.
This is considered the largest money laundering case in the city's history.
In another related case, authorities uncovered a large illegal online sports betting ring led by gangster Tran Trung Hieu. The group, based in Dong Nai province, has earned over $50 million (VND 1.2 trillion) since 2023.
The operation was described as complex and professional, with more than 15 individuals arrested and large sums of cash confiscated.
This bust highlights the ongoing challenges Vietnam faces in combating illegal gambling, despite online betting being banned, as it remains widely popular.