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Taiwanese Police Takes Down Online Casino Ring

The Far East is a tricky place. For one, the markets over there are developing in an unbelievable pace. Liberalization of the law, on the other hand, doesn’t progress that rapidly. News from Taiwan informs us that police have raided more that 12 locations in Taipei in an effort to stop online casino gambling in the country. The leader of a local online gambling ring was allegedly arrested by the Criminal Investigation Bureau of Taiwan. According to the news, the police was tipped about the ring’s operations. Agents raided several locations in Taipei, Taichung and the countries of Taichung and Changhua.

Book-keeping records, computers, monitors and telephones were taken during the raid. Lin Min-Chi, the ring’s leader was arrested by law-enforcement officers for his role in the gambling operation. Lin, allegedly, confessed his part in running the business. He said that he was operating online casino services since 2005 and that an estimated $3.08 million were made. High revenues are an indication of the popularity of the ring. Again we see how law enforcement agencies follow a law that citizens are not happy with. Online casino gambling should be allowed and people should be entitled for their own choices.

The internet world as a whole (and the world of online casino sites in particular) has grown tremendously in the past few years. As more companies move into eastern markets the tendency will only increase. Governments need to realize the online casino regulation is a far better solution then anti online casino legislation. The funds and manpower allocated for such tasks can be used for community benefits and other needed sources. Crime should be dealt with, there’s no question here. However, must the Taiwan government ban people that offer other people the choice of online gambling?

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.