- Illegal dollar market and syndicate rose centering online gambling
- Laundered money being sent through cryptocurrency
- Govt. loses Tax worth millions
- Registered merchant on MFS and banks being used openly
According to the Public Gambling Act 1867, gambling is illegal in Bangladesh. To stop online gambling and money laundering, BTRC's Digital Security Cell banned nearly half a thousand online casino sites from Bangladesh. Online gambling does not stop there. Although almost half a thousand sites have been closed, these gambling sites are still operating through mirror link technology or Android app. As a result, these gambling sites or apps cannot be stopped even if you want to. The members of the law enforcement forces are constantly making people aware by conducting various seminars and workshops including arrests. However, the managers of these sites are being suppressed even if they want to because they are managed from abroad. But due to this almost irresistible site, a huge amount of money is being smuggled out of the country. It is only a matter of time before such a large amount of money is laundered amid the shaky state of the country's economy. Preliminary research shows that almost the majority of customers of these online casinos are of young age. Most of whom are in rural areas. According to experts, unemployed youth are turning towards these online casinos because of their easy availability. One of the reasons is that money can be deposited and withdrawn very easily on these sites. The investigation revealed the names of several online gambling sites. Among which are: 1xbet, Melbet, bet365 etc. On the face of it, only bet365 can fully deposit and withdraw in foreign currencies. As a result, money has to be converted into dollars and then deposited on this site. All of these dollars are traded in the open market, at prices far above those set by the government. As a result, the value of the taka continues to depreciate against the dollar. On the other hand, thousands of taka are being smuggled under the government's nose through this gambling.
On the other hand, 1xbet, Melbet sites can directly deposit and withdraw money in Bangladeshi taka. The more suspicious thing is that this site Bkash Rocket cash method bank account almost all kinds of digital means of depositing and withdrawing money. The question may arise how money is going to a site banned by the government with these financial services approved by the government? In the case of making a deposit, it can be seen that among the various options, if you send money to the merchant or agent number of these mobile financial companies and give the transaction ID, the money will be deposited in the account. Three accounts of BRAC Bank, Islami Bank, and City Bank are available for sending money. There is also a warning that nothing related to betting can be written in the place of reference while sending money. If you write there is a possibility of losing money. When trying to contact these financial companies, they said that it is against their policy to disclose customer information. Therefore, no information about the owner of these merchant and agent accounts has been given on their behalf. However, we believe that it is their responsibility to monitor whether their merchant or agent account money is being used for any illegal activities. According to the history of the past, to save the money of Sirajganj Shop, E-Orange and Evaly from being embezzled, several hundred crores of mobile financial company 'cash' was withheld by nearly thousands of customers. Even though the e-commerce fraud has been vocal enough to prevent it, the question remains that why is it not being vocal in this matter even after tens of thousands of crores of taka have been laundered.
On December 8, 2022, Gazipur Metropolitan Police arrested 9 people on the charge of smuggling 3 thousand crore taka in 1 month. Even if we can bring the sites that have been developed all over the country under control, the domestic operations of foreign sites remain out of reach. But there are hundreds of signs around the hand. In the search of Daily Post, we know that the head office of these sites is in Russia, but they have many employees in the country. They have live support and help center just like the whole office. There are hundreds of agents. Starting from a minimum of 40 thousand taka (400 dollars) to 20 lakh taka (20,000 dollars) to become an agent, an agent receives an equivalent amount of electronic money by first paying through cryptocurrency. Then these agents take the money to the people at the customer level through development cash or bank account and add the same amount of balance to the customer's gaming account. Again, the official agent withdraws the money deposited in the merchant or agent account and sends the same amount of money in cryptocurrency to Russia. In other words, ghosts are inside. In this way, thousands of taka of the country are constantly being smuggled abroad through cryptocurrency. The administration's foresight can stop this money laundering and save the country's resources. On the other hand, due to lack of proper policies, MFS companies or banks are not able to bring these in proper monitoring. Which is affecting another wealth of the country, the youth. On these sites, some are inclined towards death by losing everything, while some are inclined towards crime to add gambling money. If this problem is not solved at the right time, the consequences can be dire.
According to the Public Gambling Act 1867, gambling is illegal in Bangladesh. To stop online gambling and money laundering, BTRC's Digital Security Cell banned nearly half a thousand online casino sites from Bangladesh. Online gambling does not stop there. Although almost half a thousand sites have been closed, these gambling sites are still operating through mirror link technology or Android app. As a result, these gambling sites or apps cannot be stopped even if you want to. The members of the law enforcement forces are constantly making people aware by conducting various seminars and workshops including arrests. However, the managers of these sites are being suppressed even if they want to because they are managed from abroad. But due to this almost irresistible site, a huge amount of money is being smuggled out of the country. It is only a matter of time before such a large amount of money is laundered amid the shaky state of the country's economy. Preliminary research shows that almost the majority of customers of these online casinos are of young age. Most of whom are in rural areas. According to experts, unemployed youth are turning towards these online casinos because of their easy availability. One of the reasons is that money can be deposited and withdrawn very easily on these sites. The investigation revealed the names of several online gambling sites. Among which are: 1xbet, Melbet, bet365 etc. On the face of it, only bet365 can fully deposit and withdraw in foreign currencies. As a result, money has to be converted into dollars and then deposited on this site. All of these dollars are traded in the open market, at prices far above those set by the government. As a result, the value of the taka continues to depreciate against the dollar. On the other hand, thousands of taka are being smuggled under the government's nose through this gambling.
On the other hand, 1xbet, Melbet sites can directly deposit and withdraw money in Bangladeshi taka. The more suspicious thing is that this site Bkash Rocket cash method bank account almost all kinds of digital means of depositing and withdrawing money. The question may arise how money is going to a site banned by the government with these financial services approved by the government? In the case of making a deposit, it can be seen that among the various options, if you send money to the merchant or agent number of these mobile financial companies and give the transaction ID, the money will be deposited in the account. Three accounts of BRAC Bank, Islami Bank, and City Bank are available for sending money. There is also a warning that nothing related to betting can be written in the place of reference while sending money. If you write there is a possibility of losing money. When trying to contact these financial companies, they said that it is against their policy to disclose customer information. Therefore, no information about the owner of these merchant and agent accounts has been given on their behalf. However, we believe that it is their responsibility to monitor whether their merchant or agent account money is being used for any illegal activities. According to the history of the past, to save the money of Sirajganj Shop, E-Orange and Evaly from being embezzled, several hundred crores of mobile financial company 'cash' was withheld by nearly thousands of customers. Even though the e-commerce fraud has been vocal enough to prevent it, the question remains that why is it not being vocal in this matter even after tens of thousands of crores of taka have been laundered.
On December 8, 2022, Gazipur Metropolitan Police arrested 9 people on the charge of smuggling 3 thousand crore taka in 1 month. Even if we can bring the sites that have been developed all over the country under control, the domestic operations of foreign sites remain out of reach. But there are hundreds of signs around the hand. In the search of Daily Post, we know that the head office of these sites is in Russia, but they have many employees in the country. They have live support and help center just like the whole office. There are hundreds of agents. Starting from a minimum of 40 thousand taka (400 dollars) to 20 lakh taka (20,000 dollars) to become an agent, an agent receives an equivalent amount of electronic money by first paying through cryptocurrency. Then these agents take the money to the people at the customer level through development cash or bank account and add the same amount of balance to the customer's gaming account. Again, the official agent withdraws the money deposited in the merchant or agent account and sends the same amount of money in cryptocurrency to Russia. In other words, ghosts are inside. In this way, thousands of taka of the country are constantly being smuggled abroad through cryptocurrency. The administration's foresight can stop this money laundering and save the country's resources. On the other hand, due to lack of proper policies, MFS companies or banks are not able to bring these in proper monitoring. Which is affecting another wealth of the country, the youth. On these sites, some are inclined towards death by losing everything, while some are inclined towards crime to add gambling money. If this problem is not solved at the right time, the consequences can be dire.
SR
