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Enforcement Directorate Freezes Rs 123 Crore in Crackdown on Chinese Betting Apps

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The Enforcement Directorate (ED), a law enforcement agency of the Government of India that is responsible for enforcing Economic Laws and fighting Economic Crime, announced on Wednesday that it had frozen bank deposits worth Rs 123 crore following searches at 10 locations in Mumbai, Chennai, and Kochi under the Prevention of Money Laundering Act against “Chinese-controlled” betting and loan apps, which allegedly defrauded numerous individuals.

According to a statement by the ED, the searches were conducted on February 23 and 24 at the premises of NIUM India Pvt Ltd and its directors in Mumbai, Xoduz Solution Pvt Ltd, Vikrah Trading Enterprises Pvt Ltd, Tyrannus Technology Pvt Ltd, M/s Future Vision Media Solutions Pvt Ltd, M/s Aprikiwi Solution Pvt Ltd in Chennai and Raphael James Rozario in Kochi.

“The search operations also resulted in the recovery and seizure of several digital devices, various incriminating documents, multiple bank accounts used for laundering, and details of various movable and immovable assets of the accused persons and entities,” the ED stated.

The searches were aimed at “tracing and unearthing the proceeds of crime in the case of illegal online loan/gambling/betting apps through a cluster of mule accounts in Kerala,” the ED elaborated.

The investigation was initiated based on FIRs registered by Kerala and Haryana Police regarding allegations of exploitation and cheating through online loan, gambling, or betting apps controlled by Chinese entities.

“The proceeds of crime generated from the above apps/other platforms are aggregated and laundered through mule accounts opened in various banks in Kerala State using payment aggregators,” the ED explained.

Additionally, funds collected through multiple shell companies in several states, including Chennai, Bengaluru, Delhi and Mumbai, were being remitted outside India through various channels such as cryptocurrency, against fake imports of software from Singapore and Forex currency purchases.

The ED disclosed that the accused had established numerous shell entities in India and used them to transfer proceeds of crime to shell companies established in Singapore. “These Singapore shell entities would raise fake invoices for the supply of software/other services in the name of the shell Indian entities in India, where the proceeds of crime would have already been aggregated,” the statement said.

“These invoices are processed by a global forex settlement platform named M/s NIUM Singapore Pte Ltd. (Singapore), which has an Indian subsidiary Company, namely NIUM India Pvt. Ltd., to collect money from Indian entities based on fake invoices and transfer the same as outward remittances to M/s NIUM Singapore Pte Ltd in the name of payment for technical services. These funds will then be credited to the virtual wallet of Singapore shell entities,” the ED added.

According to the ED, NIUM India collected no other documentation besides the fake invoices from the remitters.

“In this manner, the shell remitter, the shell remittee, and the sham import transactions were concealed from the Bank and monitoring agencies, and the proceeds of crime are thereby laundered out of India,” the ED concluded.

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New Resort & Casino Selects IvedaAI for Intelligent Video Surveillance Ahead of Grand Opening

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Iveda, a global leader in AI-driven video surveillance and smart-city technologies, announced that Subic Sun Development Inc. has chosen the IvedaAI platform as the video surveillance solution for the soon-to-open Subic Sun Resort, Convention & Casino. IvedaAI was selected early in the build-out to inform camera placement and ensure frictionless integration with future-ready, AI-powered analytics. Located on the former U.S. naval base in the Subic Bay Freeport Zone—a special economic hub that hosts thousands of international and local businesses—the resort will feature 500 guest rooms, a state-of-the-art convention center, a luxury casino and two Accor-brand hotels, Ibis Styles and Mercure, scheduled to open in December 2025.

The decision comes as global resort operators sharpen their focus on safety, service and operational efficiency. The global resort market generated $347 billion in 2024 and is projected to reach nearly $945 billion by 2030, an 18.5% CAGR. IvedaAI’s AI-enabled video analytics will help property staff lower security costs, respond to incidents faster and unlock data-driven insights that boost both guest satisfaction and bottom-line performance.

“Iveda being selected as a premier security and surveillance provider before the first Subic Sun Resort guest ever checks in is a powerful endorsement of our commitment to providing state-of- the-art monitoring technology. By designing camera layouts around IvedaAI’s real-time analytics, Subic Sun can optimize coverage, reduce blind spots, and deliver safer, smoother guest experiences—without a costly equipment overhaul. We expect more ground-up projects to follow this blueprint,” said David Ly, CEO and Founder of Iveda.

Iveda Philippines—Iveda’s joint venture focused on nationwide smart-city deployment—secured the Subic Sun contract and will oversee the on-site rollout. The win represents the team’s first major hospitality project and advances its plan to generate US $3 million in smart-city revenue by FY 2026, building on the broader initiative it announced last year.

The post New Resort & Casino Selects IvedaAI for Intelligent Video Surveillance Ahead of Grand Opening appeared first on European Gaming Industry News.

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FUN88 Thailand Celebrates 17th Anniversary with 17 Spins, Rewards & Newcastle Match Trip

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FUN88 Thailand, a top online gaming platform, is celebrating its 17th birthday with a special month-long event full of exciting rewards and lucky missions. The promotion, running from June 2 to 30, allows members to win amazing prizes like a 7-day trip to watch a live English Premier League Newcastle United match, a luxury Royal Oak watch, 17 spins for a special Anniversary Badge and many more guaranteed rewards.

With the theme “Play with FUN, be FUN”, FUN88 promises a fun and rewarding experience for all players.

How to take part in FUN88’s 17th birthday to win big:

• BE FUN Lucky Spin: Complete daily or event missions to earn spins. Every spin is a guaranteed win. Grand prizes include a NUFC new season football trip to England, a luxury Royal Oak watch and more.

• Daily Check-In: In the new Rewards Lobby, members who topped up in the past 7 days can check in daily for rewards up to 12,888 THB.

• Top-Up on 8th, 18th, 28th: Get 5 extra spins just by topping up on these special dates.

• Extra Missions: Try missions like Virtual Sports, SOS Insurance Slots, or join “Road to World Cup I” for even more spins.

• Anniversary Badge: Spin the BE FUN Wheel 17 times during the event and get the exclusive 17th Anniversary Badge.

All event details are available on the FUN88 Promotions page.

The post FUN88 Thailand Celebrates 17th Anniversary with 17 Spins, Rewards & Newcastle Match Trip appeared first on European Gaming Industry News.

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BetConstruct Wins “Digital Sports Betting Supplier of the Year” Award at Global Gaming Awards Asia-Pacific 2025

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BetConstruct has won the “Digital Sports Betting Supplier of the Year” award at the Global Gaming Awards Asia-Pacific 2025, one of the most prestigious recognitions in the gaming industry in the region.

“This award celebrates our collective efforts in building one of the most dynamic and versatile Sportsbook platforms on the market. With over 140,000 pre-match and 70,000 live events monthly, and a flexible integration model (Turnkey, White Label, API), we continue to deliver unmatched value to our partners across all channels. Thank you to GGA Asia-Pacific for this honour, and to each member of our team who contributed to this success. Let’s keep raising the bar,” the Company said.

The post BetConstruct Wins “Digital Sports Betting Supplier of the Year” Award at Global Gaming Awards Asia-Pacific 2025 appeared first on European Gaming Industry News.

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