Turkish Fintech Firm Papara Seized in Illegal Gambling Probe

Turkish authorities seized electronic payments firm Papara Elektronik Para AS on charges that the company facilitated illegal gambling, state-run Anadolu Agency reported.

Dozens of Papara accounts with “high financial volume” were used to launder betting proceeds, which were then transferred to traditional bank accounts and crypto wallets, Anadolu cited the Istanbul chief prosecutor’s office as saying.