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Crime gangs launder $140 billion through sports betting – reportYahoo Canada SportsPARIS (Reuters) – Criminals are using betting on sports events to launder $140 billion each year, a report said on Thursday, exposing a lack of effective regulation that allows match-fixing to spread. Soccer and cricket were identified as the sports .

Samvo’s Frank Chan, a former Hong Kong investment banker, turned betting on soccer into a perpetual payday. Illustration: Steven Noble/Bloomberg Pursuits Close

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