Turkey launches money-laundering probe into digital payments company Vepara, detains 31

Turkish prosecutors have launched a money-laundering investigation into digital payments platform Vepara, ordering the detention of 31 suspects in coordinated operations across six provinces, the İstanbul Chief Public Prosecutor’s Office said on Friday.

The probe is being conducted by the prosecutor’s office unit responsible for preventing the financing of terrorism and investigating money laundering. Police carried out simultaneous raids in İstanbul, Ankara, Kastamonu, Tokat, Kocaeli and Bursa provinces, according to an official statement.

Authorities said the investigation centers on allegations that proceeds from illegal betting and online fraud were systematically funneled into the financial system through payment service providers. Prosecutors cited inspection reports from the country’s central bank and financial analyses prepared by the Financial Crimes Investigation Board (MASAK).

The statement said illegal funds were allegedly routed through multiple domestic and overseas companies in an effort to conceal their origin. Several suspects working as software engineers, information technology staff and project managers are accused of facilitating the transfer of funds linked to criminal activity.

Vepara is a privately held financial technology company based in Istanbul that operates as a licensed electronic money and payment services provider. According to its corporate information, the company offers digital wallets, QR-code payments, virtual and mobile POS systems, link-based payment solutions, prepaid cards and merchant payment integration services.

The operation against Vepara comes amid an expanding crackdown on financial institutions and digital platforms accused of enabling illegal betting and laundering criminal proceeds in Turkey’s expanding fintech and online gaming sectors.

In recent months, prosecutors have launched a series of high-profile investigations exposing the scale of illegal betting networks, particularly in professional football, social media, electronic payment systems and digital money platforms, including Papara, Payfix, IQ Money and PAYCO.

Authorities have also targeted celebrities and online influencers accused of promoting illegal betting. Police detained several social media figures this year over livestreams allegedly encouraging gambling, while earlier cases placed high-profile entertainers under house arrest.

Regulators say investigations have revealed billions of lira moving through digital wallets, cryptocurrency accounts and informal money-transfer systems. As a result authorities have suspended or revoked the licenses of at least 10 electronic money companies, while the central bank currently lists 61 licensed institutions.

Gambling remains tightly restricted in Turkey. Casinos were banned in 1998, and non-state online gambling was outlawed in 2006, though state-run lottery and betting services remain legal. Officials say illegal betting fuels addiction and drains billions of lira from the economy each year.