Kuwait has laid down the law against an illegal online gambling operation that laundered millions through shell companies and alternative money transfer systems to conceal the funds.
Gulf News, via Arabic daily outlet Al Qabas, has reported that three individuals were sentenced to seven years in prison each for their involvement, receiving combined fines of KD16.839m (approximately €47m) for the gambling operation and laundering proceeds from the activity. The five shell companies were also fined KD8.419m for their involvement.
Court documents stated that one individual acted as an agent for the platform, leading the network which laundered proceeds from operations into companies and systems, exceeding KD8.419m.
The network’s activity was discovered by Kuwait’s criminal investigation and state security authorities before arrests were made.
Kuwait and other states in the Gulf Cooperation Council (GCC) in the Middle East – Bahrain, Oman, Qatar, Saudi Arabia and the United Arab Emirates (UAE) – have recently been on the front foot to tackle illegal online gambling in their respective jurisdictions.
The UAE has been introducing gambling into the market over the past few years, but the activity is still illegal in many GCC states.
However, due to the ongoing conflict in the region, the development of Wynn Resorts’ Wynn Al Marjan Island in Ras Al Khaimah has been affected by a ‘modest delay’ to its opening timeline, with the operator citing ‘logistical and shipping challenges’.
The project would be the first regulated casino resort in the country, but ongoing conflict in the Middle East has caused a significant impact across industries, business and tourism in the wider region.
Back in March, steps were taken by the operator ‘to ensure the safety and security of all employees working on site’, with the situation to continue to be monitored.
