Scam-Or Project has published a detailed report on Cazimbo Casino, highlighting the critical role payment processors play in supporting illegal online gambling operations. This investigation underscores the necessity of scrutinizing financial facilitators to curb unauthorized online casinos.
Cazimbo Casino: An Examination
Cazimbo Casino operates without proper regulatory authorization, continuing the legacy of the defunct Rabidi Group. Key observations include:
- Unlicensed Operations: Despite the collapse of Rabidi N.V. in Curaçao and the revocation of its license, Cazimbo persists in operating without valid authorization. The platform cites the Marshall Islands in its terms and conditions, a jurisdiction known for minimal regulatory oversight.
- Cyprus Connections: Cazimbo is linked to Cyprus-based Tilaros Limited, part of the former Rabidi Group under the ButOn Group, led by Denys Butko. The casino conceals its operators’ identities on its website and terms, evading regulatory scrutiny.
- Global Reach: Analysis indicates that Cazimbo attracts players from countries like Italy, Brazil, Tunisia, the United States, the United Kingdom, and Spain, despite lacking authorization in these regions.
Payment Processors: Enablers of Unauthorized Gambling
A significant concern is the involvement of regulated payment processors facilitating Cazimbo’s operations. As of August 21, 2024, Cazimbo collaborates with several notable processors:
- PaymentIQ: A commonly used gateway in high-risk online gambling sectors.
- utPay (Utrg UAB): Processes deposits via Rapid, Skrill, Neteller, Postepay, and PaySafeCard.
- Kvitum: Handles Binance Pay payments for Cazimbo and similar platforms.
- CryptoPay: Manages cryptocurrency deposits for Cazimbo and other unauthorized casinos.
- Jeton and MiFinity: Offer e-wallet services to Cazimbo and numerous illegal online casinos.
Notably, Tilaros Limited, the owner of the “Cazimbo” brand, appears to act as the payment agent, further entangling the network of entities involved.
Implications and Recommendations
The Cazimbo case exemplifies how unauthorized online casinos exploit payment processors to operate globally. This situation highlights the urgent need for:
- Enhanced Due Diligence: Payment processors must implement stricter measures to prevent facilitating illegal activities.
- Regulatory Oversight: Authorities should intensify monitoring of payment processors involved with unlicensed gambling platforms.
- Public Awareness: Educating consumers about the risks associated with unlicensed online casinos is crucial.
By addressing these areas, stakeholders can work towards mitigating the proliferation of illegal online gambling operations.