Vietnamese police have dismantled a cross-border payment network in Laos that allegedly processed more than VND4 trillion ($151.92 million) in gambling transactions for players in Vietnam, Vietnam Net Global reported.
From May 4th to 13th, a task force from Quang Tri Police traveled to Laos to gather evidence. Inspections at two locations in Kaysone Phomvihane City, Savannakhet Province, uncovered 56 Vietnamese nationals and one Chinese national linked to the network.
According to the investigation, Chinese operators moved their activities to Laos in February 2026 after Cambodian authorities intensified crackdowns on high-tech crime. They allegedly set up ASM Company as a front, posing as a financial services provider while operating as a money-transfer hub between online gambling operators and bettors.
ASM allegedly earned commissions of 0.3 percent to 0.8 percent of total daily transaction values. Since February 2026, the system had reportedly handled around VND40 billion ($1.52 million) in gambling transactions per day.
Police said Vietnamese workers were recruited to Laos, where they worked in a closed environment and were assigned to specialized departments. The customer service division operated around the clock, using Telegram and ASM PAY software to process gambling-related transactions.
Funds were later routed through the MIA exchange platform, converted into UST cryptocurrency and passed through several stages before being transferred to China.
On May 13th, Vietnamese and Lao authorities transferred 56 Vietnamese suspects and 140 electronic devices for further investigation. Authorities also arrested two alleged key figures after four days on the run.
The investigation remains ongoing.
