Greek law enforcement has dismantled a criminal organisation that deceived online betting companies, identifying 43 members who illegally profited to the tune of over €1.5m ($1.76m).
Members engaged in fraudulent online betting practices, including bonus abuse and arbitrage betting, using a large number of proxy accounts.
They carried out mass registrations on betting platforms with third-party identity information purchased for a fee. This created the false appearance of unique users.
Illegal earnings were laundered through triangular bank transactions, real estate trades, vehicle trades and businesses in the Patras region.
The organisation had a hierarchical structure with clearly defined roles, including leaders, recruiters, managers and support staff.
They also had a highly organised supply chain for obtaining false identity information.
To investigate the organisation, authorities conducted a thorough cross-referencing of data from the Greek Gaming Commission, banks and mobile operators.
Following an order from the Patras Prosecutor’s Office, coordinated house searches were conducted at the homes of leaders and senior members.
During searches, authorities seized over 200 mobile phones, more than 500 SIM cards, 700 handwritten account records, five luxury vehicles, luxury watches and weapons.
Separate criminal cases were filed for serious offences, including fraud, forgery, violations of gaming laws and money laundering.
The preliminary investigation case file will be submitted to the Patras Prosecutor’s Office.
The incident highlights ongoing risks in the online betting sector, particularly regarding bonus exploitation and identity fraud.
This underlines the importance of robust compliance and monitoring procedures for operators.
A new legislative proposal in Greece seeks to impose prison sentences of up to 10 years for operating illegal gambling
