International Crime Syndicate Involved in Illegal Gambling and Money Laundering Operations Worth over US$1.2 Billion Dismantled by Vietnamese Police
Let's Talk About That Illegal Online Gambling Ring Busted in Vietnam
The Vietnamese cops have smashed a global, online betting syndicate suspected of laundering approximately $1.2 billion from 2022 to 2024. Five individuals were nabbed, and a big pile of cash was seized after executing search warrants in Da Nang.
They reportedly used around 600 bank accounts and 187 fake firms to clean their dirty dough. Among the apprehended was a bank employee who assisted in the shady dealings.
Vietnamese police are taking no prisoners in their mission to stamp out illegal gambling, with the underground market valued at an eye-watering VND250 trillion (roughly US$10.4bn) every year.
Now, let's dive a bit deeper. Vietnam hasn't been shy about clamping down on online malfeasance. In 2025, they busted a cyber swindle pack posing as a virtual game in Quang Ninh province (yep, sounds fishy already) [1]. This operation, involving both Vietnamese and Chinese crooks, was not primarily an online gambling ring but gives you an idea of the shenanigans happening in the area.
In another instance in May 2025, Bac Ninh Provincial Police dismantled a bogus foreign exchange trading platform, Verbo Capital, that swindled victims out of up to 300 billion VND [2]. While this case wasn't related to gambling, it illustrates the prevalence of fraud in the region.
But it's not all doom and gloom - there have been reports of raids targeting illegal online betting and fraud sites in Vietnam, although these have generally been on a smaller scale [3].
As for the money laundering side of things, no specifics have been dished out regarding the illegal online gambling ring in Vietnam from 2022 to 2024. Given the international involvement in some of these scams, it's possible that greenbacks were laundered through numerous crooked channels, such as financial transactions and illicit financial flows.
neighbouring countries like Thailand have also been tightening their belts around online gambling rings. Recently, Thai authorities knocked out a 3.2 billion baht online betting ring disguised as an agricultural trading company [4]. These regional efforts serve as a testament to the ongoing battle against illicit online activities across Southeast Asia.
[1] Vietnam bans VND45 trillion in gambling chips
[2] Binh Duong police crack down on illegal foreign exchange transactions
[3] Vietnam arrests eight online poker suspects in Hanoi
[4] Thai police dismantle 3.2bn baht online gambling ring
The Vietnamese police have also cracked down on other illicit online activities, such as a cyber swindle pack and a bogus foreign exchange trading platform, demonstrating their commitment to fighting financial crimes beyond illegal gambling. In neighboring Thailand, authorities recently dismantled a large-scale online betting ring that used an agricultural trading company as a front, showing regional efforts to combat these activities.
