Turkey Arrests 68 in Illegal Betting Money Laundering Case

A large-scale financial crime investigation in Istanbul has resulted in the arrest of 68 suspects accused of operating a money laundering network linked to illegal betting and gambling activities. Investigators traced financial transactions worth more than 76.2 billion Turkish lira (approximately $2.22 billion) during the inquiry.

The investigation was conducted by Istanbul’s Cybercrime Department under the supervision of the Chief Public Prosecutor’s Office. Authorities based much of their financial analysis on a report prepared by Türkiye’s Financial Crimes Investigation Board (MASAK), which examined the movement of funds through the financial system.

According to investigators, the network processed substantial payment volumes using electronic payment services before distributing the funds across multiple bank accounts. Officials believe a significant portion of the money was later converted into cryptocurrency to make the transactions more difficult to trace.

Cryptocurrency Transfers Under Investigation

Authorities examined more than 100,000 individual transactions during the investigation.

Officials also identified payment records that allegedly contained references linking the transfers to illegal betting and gambling operations.

Investigators found that a large share of the funds had been converted into the stablecoin USDT before being transferred to cryptocurrency wallets outside the traditional banking network. They believe this process was intended to conceal the origin and movement of the money.

After identifying those allegedly involved, law enforcement carried out coordinated operations across Istanbul, resulting in the arrest of all 68 suspects. The investigation remains ongoing.

The operation is among Türkiye’s largest recent enforcement actions targeting financial networks connected to illegal betting, with authorities continuing to examine both the movement of funds and the structure of the alleged money laundering operation.