Ethiopia Arrests Sports Betting Operators in Massive Revenue Fraud Investigation
Ethiopian authorities have apprehended owners and associates of a prominent sports-betting firm, suspected of defrauding the government of over 100 billion birr (approximately USD 1.7 billion). The National Intelligence and Security Service (NISS) announced the arrests following an extensive investigation into the sports betting industry, revealing widespread violations and a sophisticated scheme to divert government revenue.
Systematic Revenue Diversion Uncovered
The NISS investigation targeted both licensed and unlicensed betting companies, as well as local financial technology (fintech) firms acting as aggregators for digital payments within the sector. The probe revealed a range of offenses, including operating without a license, continuing operations after license revocation, and violating the terms of existing licenses. Some operators reportedly utilized international internet networks to circumvent domestic regulatory oversight. Investigators allege that these betting companies, in collusion with local payment processors, systematically concealed significant financial inflows that were subject to taxation or meant to be channeled into government accounts. Authorities maintain that the scheme represents a significant loss of revenue for the Ethiopian government.
The crackdown highlights the Ethiopian government’s commitment to combating financial crimes and ensuring regulatory compliance within its burgeoning tech and financial sectors. The outcome of this investigation and the subsequent legal proceedings will likely have a significant impact on the future of sports betting and fintech operations in Ethiopia.
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