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Specialised Security Services has recently received three cases in quick succession involving Hollywoodbets
accounts being used as a tool for money laundering. Criminals are using unsuspecting individuals to deposit
stolen money into gambling accounts, disguising the illegal proceeds as legitimate gambling winnings.
This alarming trend is a violation of South African law and poses serious risks to individuals
who unknowingly assist in these crimes. It is crucial that the public remain vigilant and take
extra caution when asked to deposit money into someone else's gambling account.
HOW CRIMINALS USE HOLLYWOODBETS AND OTHER GAMBLING ACCOUNTS TO LAUNDER MONEY:
FRAUDULENT DEPOSITS:
Scammers convince individuals to deposit money into a Hollywoodbets account under false pretences.
These deposits often originate from stolen funds or proceeds of fraud.
BETTING AS A COVER-UP:
The criminals then place bets or move the funds between accounts to make the money appear as legitimate gambling activity.
WITHDRAWALS AS "CLEAN MONEY":
Once enough transactions are processed, the criminals withdraw the funds as "winnings" into their personal bank accounts, effectively laundering the money.
LEGAL OBLIGATIONS FOR GAMBLING OPERATORS:
The Financial Intelligence Centre Act (FICA) No. 38 of 2001 requires gambling establishments like Hollywoodbets to:
Verify customer identities (KYC – Know Your Customer).
Report any suspicious transactions to the Financial Intelligence Centre (FIC).
Flag and report cash transactions over R24,999.00 (threshold transaction reports).
Failure to comply can result in criminal charges, heavy fines, and revocation of their operating licenses.
PUBLIC WARNING - BE CAUTIOUS WHEN MAKING DEPOSITS:
If someone asks you to deposit money into their Hollywoodbets or any other gambling account, STOP and THINK:
Do you know this person personally?
Why cannot they deposit the money themselves?
Does the transaction make sense?
Never deposit money for someone else unless you fully understand the purpose.
Many victims unknowingly become accomplices to money laundering by following instructions without questioning them.
REMEMBER - DO NOT PAY AND CLEAR ON REQUEST:
Scammers often pressure you to pay immediately and "clear" the transaction before you have time to think. This is a red flag!
It could be a scam if someone demands that you send proof of payment immediately.
Take your time and verify the legitimacy of the request.
REPORT SUSPICIOUS TRANSACTIONS:
If you suspect a gambling account is being used for money laundering, report it immediately to the Financial Intelligence Centre (FIC) and Specialised Security Services (SSS).
REPORT TO THE FINANCIAL INTELLIGENCE CENTRE (FIC):
Hotline: 012 641 6000
Email address: fic_feedback@fic.gov.za
Website: www.fic.gov.za / https://www.fic.gov.za
Stay informed. Stay alert. Protect yourself from becoming part of a criminal operation.
Specialised Security Services invites the public to the Mike Bolhuis Daily Projects WhatsApp Channel.
This channel is important in delivering insights into the latest crime trends, awareness, warnings and the exposure of criminals.
How to Join the WhatsApp Channel:
1. Make sure you have the latest version of WhatsApp on your device.
2. Click on the link below to join the Mike Bolhuis Daily Projects WhatsApp Channel:
3. Follow the prompts to join the channel.
4. Make sure you click on "Follow", then click on the "bell"-icon (🔔)
CONTACT MR MIKE BOLHUIS FOR SAFETY AND SECURITY MEASURES, PROTECTION, OR AN INVESTIGATION IF NEEDED.
ALL INFORMATION RECEIVED WILL BE TREATED IN THE STRICTEST CONFIDENTIALITY AND EVERY IDENTITY WILL BE PROTECTED.
Regards,
Mike Bolhuis
Specialist Investigators into
Serious Violent, Serious Economic Crimes & Serious Cybercrimes
PSIRA Reg. 1590364/421949
Mobile: +27 82 447 6116
E-mail: mike@mikebolhuis.co.za
Fax: 086 585 4924
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EXTREMELY IMPORTANT: All potential clients need to be aware that owing to the nature of our work as specialist investigators there are people who have been caught on the wrong side of the law - who are trying to discredit me - Mike Bolhuis and my organisation Specialised Security Services - to get themselves off the hook. This retaliation happens on social media and creates doubt about our integrity and ability. Doubt created on social media platforms is both unwarranted and untrue. We strongly recommend that you make up your minds concerning me and our organisation only after considering all the factual information - to the exclusion of hearsay and assumptions. Furthermore, you are welcome to address your concerns directly with me should you still be unsatisfied with your conclusions. While the internet provides a lot of valuable information, it is also a platform that distributes a lot of false information. The distribution of false information, fake news, slander and hate speech constitutes a crime that can be prosecuted by law. Your own research discretion and discernment are imperative when choosing what and what not to believe.
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POPI ACT 4 of 2013 South Africa: Mike Bolhuis' "Specialised Security Services" falls under Section 6 of the act. Read more here: https://mikebh.link/fntdpv
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