Credit Card Firm Linked to Online Gambling Raided

Written by :

C Costigan

Published on :

21 October, 2019

Credit Card Firm Linked to Online Gambling Raided

Over 100 officers stormed the office of 51 Credit Card Inc Monday. The company is involved in processing credit card payments for online gambling sites across the globe.

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The company reportedly had over 83m active users as of mid-2019.

The company and its those running it are accused of processing payments for online gambling sites around the world.

In a document circulating on microblogging platform Weibo, a bank accused the credit card firm of scraping client data without their authorization.

51 Credit Card Inc issued a brief statement claiming the police were responding to reports of “outsourcing of debt collection to third-party agencies.”

The Hong Kong-listed fintech firm 51 Credit Card Inc. share price plummeted more than 35%.

- Jagajeet Chiba, Gambling911.com

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