News

Report: Gangs launder $140B through sports

Report: Gangs launder $140B through sports

SPORTS:Soccer and cricket were identified as the sports most threatened by criminals seeking to rig the gambling market but tennis, basketball, motor racing and badminton were also affected, according to the report. Photo: clipart.com

PARIS (Reuters) – Criminals are using betting on sports events to launder $140 billion each year, a report said on Thursday, exposing a lack of effective regulation that allows match-fixing to spread.

Soccer and cricket were identified as the sports most threatened by criminals seeking to rig the gambling market but tennis, basketball, motor racing and badminton were also affected, according to the report.

“The rapid evolution of the global sports betting market has seen an increased risk of infiltration by organized crime and money laundering,” said Chris Eaton of the Qatar-based International Centre for Sport Security (ICSS).

The report, compiled by the ICSS and the Sorbonne in Paris, said that 80 percent of global sports betting was being carried out on illegal markets, placing it beyond the reach of regulators and investigators.

A number of soccer leagues have been hit by match-fixing scandals in recent years and three Pakistani cricketers were jailed for a plot to deliberately bowl no balls during a test match against England at Lord’s in 2010.

Technology and live television have transformed the sports betting market in recent years, allowing viewers to bet on a wider range of events and gamble in real time as a match progresses.

Eaton, a former head of security at FIFA, said the changes have made suspect betting patterns harder to spot.

Among solutions, the report recommended a sports betting tax to finance investigations into match-fixing and closer cooperation between betting companies and sporting bodies.

(Writing by Keith Weir, Editing by Ed Osmond)

Recent Headlines

15 hours ago in Local

Members of State’s Congressional delegation asks Boeing to reconsider servicing Iran

A Boeing 737 painted with the new logo and livery of Alaska Airlines is shown, Monday, Jan. 25, 2016, before its unveiling at an employee event in Seattle. (AP Photo/Ted S. Warren)

Three members of our State's Congressional delegation...Dave Reichert, Cathy McMorris-Rogers and Dan Newhouse have contacted the presidents of Boeing and Airbus asking them to halt or reconsider potential sales of airplane parts and other aircraft-related services to Iran.

16 hours ago in Local

School kids across the state are “feeling the Bern,” voting for Sanders in mock primary

bernie-sanders-portrait-03

The State's MOCK Presidential Primary... where K-12 students across the state cast their ballots... showed Bernie Sanders with a commanding lead.

16 hours ago in Local

Washington’s wildfire season off to an abrupt and early start

A line of fire snakes along a hillside at dusk Friday, July 18, 2014, in Winthrop, Wash. A fire racing through rural north-central Washington destroyed about 100 homes, leaving behind smoldering rubble, solitary brick chimneys and burned-out automobiles as it blackened hundreds of square miles. Friday's dawn revealed dramatic devastation, with the Okanagan County town of Pateros, home to 650 people, hit especially hard.

Fire officials say they were surprised to see wildfires burning this early west of the Cascades, particularly one that burned nearly 300 acres. The blazes fueled worries about what lies ahead.

16 hours ago in Local

6 year old girl rushed to hospital after falling from moving car in Lynnwood

hospital

The girl apparently fell out of the car as it was making a turn from a parking lot.

16 hours ago in Local

Two pregnant women in state test positive for Zika

Photo by Center for Disease Control and Prevention

The mosquito-bourne virus is especially dangerous for expectant mothers because it's been linked to birth defects.