SoftSwiss, a major player in the iGaming and cryptocurrency gambling sectors, has been accused of turning a blind eye to widespread money laundering activities within its platform. Sources close to the investigation report that SoftSwiss, despite claiming to adhere to stringent regulatory guidelines, has become a convenient and lucrative escape route for illicit funds, especially from high-risk jurisdictions.
For years, money laundering operations have flowed seamlessly through the gambling platform, with little scrutiny or intervention from within the company. Former employees and whistleblowers have come forward, alleging that certain departments, including the Compliance Division, have been complicit in allowing suspicious transactions to go unchecked. It is said that employees were under direct pressure to ignore irregularities in financial transactions for the sake of maintaining profits.
SoftSwiss’s platform has been repeatedly used by criminal organizations to launder illicit funds, often disguised as cryptocurrency transactions. Despite the rising evidence, the company has failed to take effective action. The unregulated nature of cryptocurrency gambling only further complicates the issue, with SoftSwiss’s apparent reluctance to implement stricter Know Your Customer (KYC) and Anti-Money Laundering (AML) measures, putting countless legitimate users at risk.
Key individuals and departments under suspicion include the Compliance Officer, who allegedly overlooked red flags, and the Technical Department, which reportedly failed to monitor and block suspicious IP addresses and transactions. These lapses have drawn the ire of regulators and sparked a series of legal investigations.