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Over 100 officers stormed the office of 51 Credit Card Inc Monday. The company is involved in processing credit card payments for online gambling sites across the globe.
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The company reportedly had over 83m active users as of mid-2019.
The company and its those running it are accused of processing payments for online gambling sites around the world.
In a document circulating on microblogging platform Weibo, a bank accused the credit card firm of scraping client data without their authorization.
51 Credit Card Inc issued a brief statement claiming the police were responding to reports of “outsourcing of debt collection to third-party agencies.”
The Hong Kong-listed fintech firm 51 Credit Card Inc. share price plummeted more than 35%.
- Jagajeet Chiba, Gambling911.com
