China issues crackdown warning on cross-border gambling ahead of Chinese New Year
Chinese authorities urge Chinese nationals involved in cross-border gambling to turn themselves in. The notice was co-drafted by the Supreme People’s Court, the People's Procuratorate and the Ministry of Public Security.
China issues crackdown warning on cross-border gambling ahead of Chinese New Year. Officials focus on online gambling based outside of the country’s borders targeting mainland Chinese. Ministry of Public Security is prepared to crack down on illegal activities. The notice drafted by the Chinese authorities does not name any countries. It is considered a violation of law of mainland China. The Chinese government claims that the Spring Festival holiday is the most rampant period of overseas gambling targeting Chinese citizens. According to the official, it caused a large outflow of capital and gave rise to vicious crimes such as kidnapping and extortion.
China issues crackdown warning on cross-border gambling ahead of Chinese New Year. Analysts from Sanford C. Bernstein believe the crackdown will further compound the local junket sector. The Philippines, Cambodia and Myanmar are likely to be targeted. Last year Chinese authorities pursued 3,500 cases and detained 75,000 suspects amid a sweeping crackdown on illegal online gambling. 600 Chinese nationals wanted for illegal gambling and money laundering-related activity were repatriated from overseas. Singapore is not expected to get caught up in the action. Macau junkets account for 80% of rolling business in Macao.