It seems that raids are happening in many cities and smaller towns all over the world that end up being connected to online casinos or illegal gambling operations. The latest in the line-up is the central American nation of Belize. It seems that there was recently a raid conducted that resulted in laying the smackdown on Moneygram and Instadollar. These are two payment processing services that are widely used in the online casino business for helping players perform their necessary transactions t make deposits and withdrawals on their favorite sites. The two services are typically regarded as staples in the internet casino transaction business and this development comes as a big blow to both entities.

It turns out that the real problem that brought about the raid was the fact that there have been a collection of different incidents involving identity theft and money laundering. These are charges that the Belizean official s have to take seriously. It turns out that Instadollar was a go-to service that fans of online casinos took part in within the United States, Peru and Turkey.

How it would work is that funds would get transferred through these services using the Coye Money Exchange. That “exchange” business was actually a front for a Belizean gang that had robbed the identities of a few Belizean citizens. The front worked quite well for the gang in terms of getting their hands on these people’s money through illegal means. There were real names of real people being used for these purposes but they were matched up to fake addresses and fake signatures so eventually, the jig has to be up at some point.

Tags: instadollar, moneygram, online gambling in belize

This entry was posted on Thursday, June 25th, 2009 at 9:30 am and is filed under Online Gambling. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.