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South Korea Targets Payment Gateways in Gambling Crackdown

7/26/2025

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Summary

Story summary

South Korean regulators are cracking down on six payment gateway companies accused of enabling illegal gambling through digital transactions. The Financial Supervisory Service (FSS) is determined to dismantle these criminal networks, especially those preying on minors. This crackdown echoes similar efforts in Indonesia and the Philippines, highlighting a regional push for stricter gambling regulations.

History

Historical Context

In 2006, South Korea enacted the Gambling Control Act to regulate gambling and protect minors, amid rising concerns over illegal gambling, which increased by 30% in recent years. This initiative aligns with similar crackdowns in Indonesia and the Philippines, reflecting a broader trend of tightening regulations across Asia that could significantly impact the gambling industry and consumer protections.

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Story summary

South Korean regulators are cracking down on six payment gateway companies accused of enabling illegal gambling through digital transactions. The Financial Supervisory Service (FSS) is determined to dismantle these criminal networks, especially those preying on minors. This crackdown echoes similar efforts in Indonesia and the Philippines, highlighting a regional push for stricter gambling regulations.

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