Investigation says local companies disguised illegal betting payments as ordinary commercial transactions.
An offshore gambling platform is facing fresh scrutiny in Singapore after an investigation found that local individuals and companies were allegedly being used to disguise betting transactions, even after nine people were arrested in an earlier police operation.
Fake Invoices Allegedly Hide Betting Payments
The Straits Times reported that Curacao-based GemBet has continued recruiting people in Singapore to establish companies and process transactions linked to its gambling platform. Punters allegedly receive invoices describing their payments as purchases of legitimate goods or services before the money is deposited into digital wallets associated with GemBet. One invoice reviewed by the newspaper listed an S$80 payment for pre-owned gaming equipment to a Singapore-registered wholesale company operating from a Punggol residential address.
Nine People Arrested After Earlier Investigation
GemBet had previously drawn attention during the 2026 FIFA World Cup after bets and payouts were reportedly routed through PayNow accounts belonging to three Singapore companies. Nine people were subsequently arrested. Six are suspected of creating business entities and corporate bank accounts used for illegal gambling transactions, while three allegedly assisted the syndicate in obtaining the companies and accounts. No final court findings against those arrested were reported in the articles.
New Companies Emerge After Enforcement Action
After the arrests, users in a Telegram group with more than 2,600 members expressed concern about police investigations and frozen bank accounts. The reports said fake invoices then began appearing from businesses including a handicrafts retailer and an interior design company, apparently to make gambling deposits resemble legitimate payments. The Straits Times also reported that a Europe-based company, Ludicrum Tech, had advertised for a remote payment operator in Southeast Asia before removing the job listing by November 6.
Platform Targets Southeast Asian Payments
Documents reviewed by The Straits Times linked GemBet to Grand Complications, which applied to register the platform in Curacao. The application indicated that GemBet accepted currencies including the Singapore dollar, Malaysian ringgit, Thai baht, Vietnamese dong, Indonesian rupiah, U.S. dollar and euro, as well as Bitcoin and Ethereum. Payment methods reportedly included PayNow and DuitNow, while company documents described Southeast Asia as a core target market.
Singapore and Indonesia Intensify Crackdowns
Singapore Pools remains Singapore’s only licensed operator for lotteries, sports betting and remote gambling services, making bets with operators such as GemBet illegal under Singapore law. Individuals convicted of betting with an unlicensed provider can face up to six months in jail and/or a fine of up to S$10,000. The regional crackdown is also expanding: on November 6, Indonesia’s Financial Services Authority instructed banks to block 39,923 accounts linked to suspected illegal online gambling operations.
The GemBet investigation shows how illegal online gambling networks can allegedly use legitimate companies, digital payment systems and fabricated invoices to disguise financial flows. For Singaporeans, the case highlights the legal and financial risks of allowing personal or corporate accounts to facilitate unlicensed gambling. For Indonesians, the platform’s acceptance of rupiah and Indonesia’s recent blocking of tens of thousands of related bank accounts show that the challenge extends across Southeast Asia.
Sources: Straits Times (2026) , The Star (2026)
Keywords: GemBet Singapore, Illegal Online Gambling, Singapore Money Mules, Fake Invoices, Shell Companies, Gambling Crackdown
