South Korea Targets Six Payment Firms for Gambling Violations

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South Korean authorities are investigating six local payment firms for alleged involvement in illegal online gambling. The companies are accused of facilitating transactions tied to unlicensed gambling operations, violating the Specialized Credit Finance Act. The Financial Supervisory Service and Seoul prosecutors are leading the probe, with the Ministry of Economy and Finance calling for stronger oversight. This action follows a broader push to crack down on financial institutions enabling illicit betting platforms. Officials say tighter regulations and cooperation with payment providers are essential to curb the growing threat of illegal online gambling in the country.

Source: https://news.worldcasinodirectory.c...firms-face-action-over-gambling-crimes-119157