Island's regulator urges sector to remain vigilant to evolving threats
The Gaming Supervision Commission is warning stakeholders of the risk posed by the increasingly complex criminal landscape in East and Southeast Asia, which includes the exploitation of casinos and e-gaming platforms.
The move is in parallel with a recently published threat alert from the United Nations Office on Drugs and Crime.
The Isle of Man's GSC issued its own national risk appetite statement on the subject in May this year and has published key insights from the report to assist operators.
The GSC's aim is to support industry awareness and ensure the sector remains vigilant to evolving threats.
The regulatory body highlights the risk of criminal syndicates investing in casinos, junket operations and online gaming platforms through the strategic infiltration of vulnerable jurisdictions.
The investments would then serve as fronts for money laundering, underground banking, and cyber- enabled fraud.
So-called Special Economic Zones in Cambodia, Myanmar and the Philippines have become hubs for scam centres, illegal casinos and trafficking operations.
A GSC case study highlights events in Timor-Leste where crime groups managed to embed illicit operations within legitimate economic frameworks.
In late August Timor-Leste's authorities carried out a series of raids and uncovered a complex web of criminal activities with links to companies and individuals along with the so-called 14K Triad.
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