https://vietnamnet.vn/en/vietnam-busts-80-million-money-laundering-network-tied-to-overseas-gambling-2374918.html

Police in Dong Nai province have successfully dismantled a large-scale money laundering operation that funneled over 2,000 billion VND (approximately $80 million) through illegal banking transactions, working in collaboration with online gambling and fraud syndicates based in Cambodia.

On February 24, Dong Nai Provincial Police announced the arrest of 18 suspects involved in laundering illicit funds for international gambling and fraud networks. The operation spanned multiple provinces and cities, with criminals using fraudulent banking transactions and shell companies to obscure the origins of the money.

Recognizing the scale and sophistication of the network, the Director of Dong Nai Police directly oversaw a coordinated investigation, working with law enforcement agencies in Hanoi and Da Nang to track, arrest, and dismantle the group.

During raids on the suspects’ residences and workplaces, police seized 8 computers, 9 CPUs, 87 mobile phones, and multiple Wi-Fi transmission devices. Further searches at the residence of the alleged ringleader, identified as K., led to the discovery of 2 additional computers, 2 CPUs, 13 mobile phones, 26 official company seals, over 300 million VND (approximately $12,000) in cash, and various business registration documents.

Investigations revealed that K. orchestrated the operation within Vietnam, working closely with J., a Chinese national based in Cambodia, to launder illicit funds. K. received monthly payments ranging from 450 to 500 million VND ($18,000–20,000) for his role in facilitating transactions.

Since July 2024, K.'s group has handled over 2,000 billion VND in illicit transactions, establishing more than 30 shell companies and opening over 150 corporate bank accounts to move money covertly. They also profited by leasing out corporate bank accounts, earning approximately 10 million VND ($400) per account each month.

As the investigation expanded, police arrested three additional suspects in Hanoi, Da Nang, and Hung Yen province. Authorities also seized a firearm, 27 rounds of ammunition, and a significant cache of financial documents related to the scheme.

The case remains under further investigation, with authorities working to identify additional accomplices and related international networks involved in financial fraud, gambling, and cross-border money laundering.