Italian Gaming Regulator Seizes Laundered Funds

This week Italy's gaming regulator announced that they have seized more than €28.6 million in funds that the group suspects was laundered at online betting sites by organized crime rings.

The seizure of the funds was part of "Operation Gambling", which required the assistance of international law enforcement and was tied to Malta arrests this summer that saw the arrests of six people tied to organized crime. Accounts frozen originated in Italy, Singapore, and Germany, with most of the money being held in Italy.

The investigation also revealed that there are more organized crime links to the case located in Romania, Canary Islands, Netherlands Antilles, and Panama, meaning that there will likely be more ramifications coming in the next few months.

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