Illegal betting profits are laundered through cryptocurrencies!


From January 1, 2024, the Anti-Money Laundering Authority will launch a software that detects black money through cryptocurrencies. Until then those involved in the illegal betting ring will continue to use cryptocurrencies to launder their profits!

“Trial in the Open” revealed that one of the smartest ways to hide the proceeds of criminal activities is to “invest” in cryptocurrencies, which are directed to special electronic banks. Regulators are unable to trace the traces of black money as technology allows betting fraudsters to avoid the clutches of Justice.

The president of the Anti-Money Laundering Authority, honorary vice-prosecutor of the Supreme Court, Charalambos Vourliotis with the help of the new software will seek to dismantle the illegal betting that is done through cryptocurrencies. The relevant application was also used by other European countries with great efficiency.


Executive director of PAE of Super League 2 three years ago he systematically bet on his team’s matches. The Sports Law forbids team officials, football players and coaches from betting on matches of their team. A legal betting company in Greece identified the football factor, sent a relevant report to EPATHLA (Committee of Sports Integrity) and the case reached the Ethics Committee of the EPO. The football player was given the highest penalty, which is a two-year ban from football.


Source: Sport Fm

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