Turkey executes large scale anti-money laundering and illegal gambling operation

• On May 5, Turkey executed Paymix-3, the third and final phase of a police operation against an illegal gambling and money laundering ring
• Millions in assets were frozen, 22 suspects were arrested, while more than a dozen remain at large
• The latest phase of the operation follows two other large-scale raids completed earlier this year

A large-scale operation combatting illegal gambling and money laundering in Turkey reached its third and final phase.

In simultaneous raids, law enforcement targeted multiple locations across the country, arresting nearly two dozen suspects, seizing cars, properties and freezing bank and cryptocurrency accounts.

The illegal gambling business processed $3bn in monthly transactions

As announced by the local media outlet, Türkiye Today, authorities seized millions in assets, arrested suspects and successfully executed the third and final phase of operation Paymix-3.

The latest raids complement an ongoing effort by the Turkish authorities against a large-scale syndicate involved in operating illegal gambling websites, laundering proceeds, including via crypto and using ill-gained funds to purchase assets.

A testament to the scale of the operation is the fact that monthly, the illegal gambling operations processed roughly $3bn transactions.

Then, criminal proceeds were laundered through multi-layer transfers.

During the May 5 police operation, several dozen suspects were simultaneously targeted by law enforcement.

In total, police across the country arrested 22 suspects.

Some 15 other individuals, suspected of being involved in the illegal gambling and money laundering ring operating from abroad, remain at large.

However, the Turkish authorities have filed Red Notices through Interpol for their arrest.

During the latest raids, law enforcement froze 535 cryptocurrency and bank accounts, seized 26 luxury vehicles, as well as several dozen properties.

Notably, in the latest phase of the police operation, Turkish law enforcement shut down servers that backed the operation of dozens of illegal gambling websites.

The raids were completed by the Istanbul Provincial Gendarmerie Command’s Cybercrime Unit in collaboration with the Istanbul Chief Public Prosecutor’s Office.

Dozens of suspects arrested in the first two parts of the operation

The final phase of operation Paymix follows raids earlier this year.

Before Paymix-3, Turkish authorities executed Paymix-2 on March 13, while Paymix-1, which marked the start of the operation, was completed on March 6 this year.

In the two previous operations, 30 suspects were arrested.

Similar to the latest effort, police seized a range of assets, including vehicles and properties, while freezing bank and cryptocurrency accounts.

Besides in Turkey, the illegal gambling and money laundering ring operated overseas.

This enabled the operation to accumulate significant proceeds, which were subsequently laundered to conceal their origin.

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