Asia
UNODC: Casinos and Cryptocurrency Fueling Underground Banking and Crime in Asia
A new report by the United Nations Office on Drugs and Crime (UNODC) has found that casinos, junkets and cryptocurrency have emerged as a critical piece of the underground banking and money laundering infrastructure in East and Southeast Asia, fuelling transnational organised crime in the region.
Titled “Casinos, Money Laundering, Underground Banking, and Transnational Organized Crime in East and Southeast Asia: A Hidden, Accelerating Threat”, the study highlights the nexus between illegal online casinos, e-junkets and cryptocurrency exchanges that have proliferated in recent years alongside surging cross-border criminality throughout the region.
“Casinos and related high-cash-volume businesses have been vehicles for underground banking and money laundering for years, but the explosion of underregulated online gambling platforms and crypto exchanges has changed the game. Expansion of the illicit economy has required a technology-driven revolution in underground banking to allow for faster anonymized transactions, commingling of funds, and new business opportunities for organized crime. The development of scalable, digitized casino- and crypto-based solutions has supercharged the criminal business environment across Southeast Asia, and particularly in the Mekong,” said Jeremy Douglas, UNODC Regional Representative for Southeast Asia and the Pacific.
As outlined in the report, countless recent cases demonstrate that online casinos and related businesses have been used by major organised crime groups to move and launder massive volumes of state-backed fiat as well as cryptocurrencies, effectively creating channels for integrating billions in criminal proceeds into the financial system. At the same time, the creation and success of these underground banking mechanisms has helped expand the region’s broader illicit economy, in turn attracting new networks, innovators and service providers to the criminal ecosystem.
Cases examined also highlight how illegal online casino operators have diversified business lines to include cyberfraud and cryptocurrency laundering, with extensive evidence of organised crime influence within casino compounds, special economic zones and border areas, including those controlled by armed groups in Myanmar to conceal illicit activities.
“Organized crime groups have converged where they see vulnerabilities, and casinos and crypto have proven the point of least resistance. That said, operations against syndicates in countries including Cambodia and the Philippines have caused a partial displacement, and we have seen criminals moving infrastructure into other places where they see opportunity — basically where they expect they will be able to take advantage and not be held to account, to remote and border areas of the Mekong, and recently elsewhere,” Douglas added.
UNODC analysis estimates there were more than 340 licensed and unlicensed land-based casinos operating in Southeast Asia as of early 2022, with most having shifted online to offer live-dealer streaming and various proxy betting services. According to latest available industry data, the formal online gambling market is projected to grow to more than US $205 billion by 2030, with the Asia Pacific region representing the largest share of market growth between 2022 to 2026 at a projected 37%. The study describes several policy developments and enforcement measures implemented by governments in the region to address illegal casino-based capital outflows, corruption, and money laundering that have in part driven these trends.
The technical policy brief describes the mechanics, intricacies and drivers of underground banking in the region, and has been developed through extensive examination and analysis of criminal indictments, case records, court filings, related public disclosure and other data collected in consultation with authorities and partners over more than a year. Its development has included an extensive mapping and analysis of thousands of so-called “grey and black business” online groups, including clear web and dark web forums and marketplaces, used for illicit activities. The study also provides a list of recommendations geared towards strengthening knowledge and awareness, legislation and policy, and enforcement and regulatory responses in the region, intended to assist governments to address the situation.
“It’s clear that the gap between organized crime and enforcement authorities is widening quickly. If the region fails to address this criminal landscape the consequences will be seen in Southeast Asia and beyond as criminals look to reinvest profits and innovate operations. We trust the report will prove as a useful reference for deeper engagement between countries in Southeast Asia, UNODC, and international partners. At this point, we are just scratching the surface,” said Benedikt Hofmann, UNODC Deputy Regional Representative.
Asia
S8UL signs Team Question Mark roster for PUBG: BATTLEGROUNDS ahead of EWC 2026
The CIS-based EMEA lineup brings past EWC experience and titles including PUBG Global Series 8 as S8UL targets Riyadh qualification.
S8UL has signed the Team Question Mark (QM) roster to represent the organisation in PUBG: BATTLEGROUNDS on PC ahead of the Esports World Cup (EWC) 2026. The deal was announced April 16 from Mumbai as S8UL prepares for the tournament in Riyadh, scheduled for July 21 to 26.
The CIS-based EMEA lineup includes:
- captain Roman Zinovev (ADOUZ1E),
- Andrey Ionov (Bestoloch),
- Mansur Tsimpaev (f1lfirst),
- Nikita Odobesku (Molodoct),
- and coach Yermek Torebekov (Ermaak).
S8UL said the roster will compete through the qualification pathway for a place in the 24-team event, which has a $2 million prize pool.
S8UL is adding a roster with a proven record in top-tier PUBG competition, including wins at PUBG Continental Series 7 Europe 2022 and PUBG Global Series 8 in 2025. The team has also posted a Top 3 finish at PUBG Global Series 2 in 2023 and a Top 7 finish at PUBG Global Championship 2022. The organisation said the roster has competed at both previous editions of the EWC in 2024 and 2025 and has amassed approximately $713,000 in total prize winnings.
Commenting on the move, Naman Mathur, Co-founder, S8UL said, “Signing the QM roster is a significant step for us as we continue to strengthen our presence in global esports. PUBG: BATTLEGROUNDS is one of the most competitive titles in the world, and this team has consistently proven itself against the very best. At a broader level, this move reflects the direction S8UL is heading in. Over the past year, we have focused on building depth across our rosters and competing consistently at the highest level. As we prepare for the Esports World Cup 2026, we are committed to providing the team with the right support and resources as they aim to make a strong impact in the qualifiers as well as on the global stage.”
Roman Zinovev aka ADOUZ1E added, “Becoming part of S8UL is a big opportunity for us as a team. As a team, we’ve always believed in our ability to compete with the best in the world, and having the backing of a global organisation allows us to push even further. With the Esports World Cup coming up, we’re focused on working through the qualifiers and making sure we deliver performances that match our potential.,”
S8UL said the announcement follows its selection as a Club Partner by the Esports Foundation (EF), placing it among 40 global organisations. The organisation has also listed 13 titles it plans to enter for EWC 2026, including PUBG: BATTLEGROUNDS, Apex Legends, Battlegrounds Mobile India (BGMI), Call of Duty: Warzone, Chess, EA Sports FC, FATAL Fury, Fortnite, Honor of Kings, MOBA Legends 5V5, Street Fighter 6, TEKKEN 8, and Trackmania.
Relevant data as follows:
- S8UL Esports: https://s8ul.gg/ Official organisation site for roster and announcement verification.
- PUBG Esports (PUBG: BATTLEGROUNDS competitive updates): https://pubgesports.com/ Authoritative source for PUBG: BATTLEGROUNDS esports circuits, event results, and qualifiers.
- Esports World Cup (official site): https://esportsworldcup.com/ Event organiser site for EWC 2026 schedule, formats, and prize pool confirmation.
The post S8UL signs Team Question Mark roster for PUBG: BATTLEGROUNDS ahead of EWC 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Akshat Rathee
Manish Agarwal Joins NODWIN Gaming Board as Non-Executive Director
NODWIN Gaming, a leading esports and youth entertainment company, announced the appointment of Manish Agarwal to its Board as a Non-Executive Director. An executive who played a key role in scaling and taking public India’s only listed gaming company, Manish brings deep experience in public market readiness, governance and institutional growth as NODWIN accelerates preparations for a potential public listing. Notably, he has been associated with NODWIN since its early days leading Nazara Technology’s investment into the company, bringing a long-term perspective on the company’s evolution, strategy and category leadership.
Manish is a successful entrepreneur and ecosystem builder, currently Co-founder of KGeN (Kratos Gamer Network) – a verified human distribution network organizing micro-communities across the Global South to power engagement, commerce. KGeN is backed by leading global investors including Accel and Prosus, with its most recent private round valuing the company at approximately $500 million.
He is also the Founder of Humyn Labs, which works with frontier technology companies to transform signals from real-world communities into structured human intelligence systems for AI.
As a Non-Executive Director, Manish will work closely with the Board and leadership team to strengthen governance, strategic oversigh, and long-term value creation as the company scales across markets and builds institutional depth aligned with public market expectations.
Manish Agarwal, Co-Founder of KGeN & Humyn Labs, said: “Having seen NODWIN’s journey from its early stages to becoming a leading force in youth culture and gaming, it’s been exciting to watch its evolution. As the company now prepares for its next phase, including its path towards public markets, I look forward to contributing to building a globally relevant and institutionally strong platform.”
Akshat Rathee, Managing Director and Co-Founder of NODWIN Gaming, said: “Manish has been a long-time partner in NODWIN’s journey, from leading Nazara Technologies’ investment into the company to now joining our Board at a crucial inflection point. He is the leader who took Nazara public and created immense shareholder value, and brings that same mindset as we prepare for our own public market journey. Manish brings a rare combination of entrepreneurial vision and public market experience that is incredibly valuable at this stage of our journey. We are confident his strategic guidance will play an important role as we advance our pre-IPO round and continue creating long-term value for our stakeholders. We are delighted to welcome him to the Board at this important stage.”
NODWIN Gaming has been steadily expanding its footprint across gaming, creator ecosystems and youth culture, building a diversified platform spanning content, commerce and experiences. The company continues to invest in strengthening its institutional capabilities, governance frameworks and global presence as it prepares for its next chapter.
This appointment is part of a broader set of strategic moves by NODWIN Gaming as it prepares for its next phase of growth. Earlier this month, the company brought back Sidharth Kedia to lead strategy, capital planning and M&A, reinforcing its focus on disciplined growth and shareholder value creation.
Alongside bringing Arnd Benninghoff onto the Board and kicking off a $100 million pre-IPO fundraise, these moves reflect a deliberate effort to strengthen leadership, governance and strategic depth as NODWIN moves closer to the public markets. After posting a strong INR 524 Cr in FY25, the result of a consistent 50%+ CAGR since 2018, the company has already eclipsed that milestone. In the first three quarters of FY26 alone, revenue reached INR 530.3 Cr while maintaining EBITDA-positive operations, signaling a record-breaking year ahead.
The post Manish Agarwal Joins NODWIN Gaming Board as Non-Executive Director appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
appointments
Golden Whale names Jaime Ocampo Managing Director, Asia
Former Kochava, DeNA and EA executive to lead Asia-Pacific commercial growth and regional strategy.
Golden Whale has appointed Jaime Ocampo as Managing Director, Asia, as the company pushes deeper into the Asia-Pacific iGaming market.
Ocampo will lead commercial growth and regional strategy across the region, with a focus on supporting operators adopting “continuously learning models” for decisioning across engagement and incentives, the company said.
He brings more than 20 years of experience across digital technology, gaming and data-driven growth, and has held senior roles at Kochava, DeNA, Funstage GmbH and Electronic Arts.
Eberhard Dürrschmid, CEO at Golden Whale, said: “Asia is a strategically important region for us, with a diverse and fast-moving market. Jaime brings a rare combination of experience across gaming, data and commercial strategy, which aligns closely with how we support operators today. His understanding of both the operational challenges and the underlying data opportunities makes him ideally positioned to lead our expansion in the region.”
Jaime Ocampo, Managing Director, Asia at Golden Whale, added: “The opportunity in Asia is significant, particularly as operators look to move beyond traditional campaign structures and adopt more adaptive, data-driven approaches to player engagement. Golden Whale’s technology is built to support that transition, and I am looking forward to working closely with partners across the region to help unlock new levels of performance and efficiency.”
The post Golden Whale names Jaime Ocampo Managing Director, Asia appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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