Cyber Crackdown: Tough Action Against Gambling and Money Laundering
Faiz Ahmad Taiyeb, Special Assistant to the Chief Adviser and the acting head of the Posts, Telecommunications, and Information Technology Division, has stated that initiatives will be taken to punish companies directly or indirectly involved in gambling and to ban betting sites once the Cyber Security Act is passed.
He revealed that allegations are intensifying against several mobile financial service companies regarding money laundering activities under the guise of online gambling, cryptocurrency, and e-commerce MLM schemes. He mentioned that work on these matters will begin after the passage of the Cyber Security Act.
On Monday (April 28), he shared this information through a Facebook status.
Faiz Ahmad Taiyeb said, "We hope the new Cyber Security Act will be passed within a few days. Under this Act, gambling or online gambling in cyberspace has been prohibited. After the Act is passed, we will take initiatives to punish companies directly and indirectly involved in gambling and to ban betting sites, Insha'Allah."
He further stated that the involvement of mobile financial service companies connected with betting sites will also be thoroughly investigated.
Regarding this, the Special Assistant said that for quite some time now, allegations of money laundering have been growing against several mobile financial service companies under the names of online gambling, cryptocurrency, and e-commerce MLM. "After the Cyber Security Act is passed, we will work on these issues, Insha'Allah. We are giving advance warnings to mobile banking services and financial organizations because cyber gambling companies are integrated with mobile banking, banks, financial houses, payment gateways, MFS/PSO/PSP, etc."
He added, "For months, irregular, one-way, and abnormal transactions have been happening in specific pools of mobile financial accounts. Funds are being transferred into a pool of numbers, then cashed out into specific accounts and laundered abroad. You cannot pretend not to notice and claim you are not involved! This will not be accepted. Therefore, everyone involved in illegal gambling should be cautious," he warned.
