😱 Laos 🇱🇦: Vietnamese authorities 🇻🇳 dismantle a payment processing network linked to illegal gambling

😱 Laos 🇱🇦: Vietnamese authorities 🇻🇳 dismantle a payment processing network linked to illegal gambling

According to the investigation, the organization processed more than 4 trillion Vietnamese dong (USD 151.92 million) in transactions related to gambling and sports betting for users in Vietnam between February and June of this year.

➡️ The operation was linked to ASM, a company that allegedly served as a front for activities run by Chinese operators 🇨🇳. According to authorities, the group relocated to Laos 🇱🇦 after being expelled from Cambodia 🇰🇭 by local authorities in February 2026.

➡️ Although ASM officially presented itself as a financial services provider, in practice it operated as a payment processor and money transfer service for gambling and sports betting platforms.

➡️ According to information gathered by investigators, the company earned commissions ranging from 0.3% to 0.8% of the total volume of transactions processed each day.

➡️ Police reported that the organization recruited Vietnamese citizens to work in closed facilities located in Laos, where they performed specific roles across various operational departments. To coordinate activities, they used Telegram and an internal software system called ASM PAY.

➡️ Before reaching China, the funds were transferred through the MIA exchange platform and converted into the UST cryptocurrency.

➡️ During the police operation, which concluded on May 13, authorities arrested 56 individuals and seized 140 electronic devices.
Authorities stated that the investigation remains ongoing and have not ruled out further arrests or additional enforcement actions against those responsible for the network.

#news #Asia #China #gambling

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