TV channel, bank among confiscated companies in betting op
ISTANBUL
Authorities seized 23 companies on March 14 in Istanbul, including a television channel, an investment bank and a digital payment provider, over allegations of laundering illicit betting revenues.
The operation targeted Flash TV, PozitifBank and Payfix digital payment service, among others, with police detaining 49 suspects, including the channel's owner.
Prosecutors accused individuals within these companies of using financial transactions to launder proceeds from illegal gambling, asserting that the network evolved into a full-fledged criminal organization.
Dozens of properties, lands, bank accounts and cryptocurrency wallets linked to the alleged ringleaders and members were confiscated. Authorities also seized company assets, vehicles, and shares, with the total financial impact of the seizures amounting to 6.9 billion Turkish Liras (nearly $188 million).
The financial crimes investigation unit identified 855 high-risk accounts within Payfix's database, allegedly linked to illicit betting.
An investigation found that 4.2 billion liras were transferred from these individuals’ bank accounts to cryptocurrency service providers. Additionally, a detailed analysis of IP addresses revealed that 43,861 Payfix wallet accounts received transactions between Aug. 21 and Oct. 19, 2023, directly tied to betting activities.
Prosecutors claim that the suspects managed Payfix before acquiring PozitifBank. They are also accused of establishing numerous shell companies or taking over existing firms to launder illicit funds and generate unlawful profits.
With illicit betting and online gambling increasingly becoming major revenue streams for organized crime syndicates, an estimated 10 million people in Türkiye have fallen victim to these schemes, causing significant economic losses, according to local media.
The United Nations Office on Drugs and Crime (UNODC) estimates the global illegal betting market to be worth a staggering $1.8 trillion.
