GemBet allegedly used Singaporeans to set up shell companies and mask illegal iGaming transactions, The Straits Times investigation says

The Straits Times says GemBet recruited Singaporeans to create shell companies and disguise illegal iGaming transactions. For PSPs, acquirers, and banks, the useful part is not the headline drama but the payment pattern: corporate fronts, local identities, and transaction masking are exactly the kind of structure that can slip through weak onboarding.

1. The report says GemBet used Singaporeans to form shell companies, which were then used to conceal the flow of funds tied to illegal iGaming activity.
2. The arrangement matters for payment teams because it combines local incorporation with disguised merchant activity, a setup that can look cleaner on paper than it does in settlement data.
3. The source frames the case as an investigation by The Straits Times; no further operational details were provided in the text.