(G.N.S) Dt. 3
Enforcement Directorate raids in Karnataka’s Bengaluru at the premises of online payment gateways like Razorpay, Paytm and Cashfree as part of an ongoing probe against “illegal” instant smartphone-based loans “controlled” by Chinese persons.
The raids are currently underway at six premises in Bengaluru. The case is based on 18 numbers of FIRs registered by the Cyber Crime Police Station in Bengaluru City.
The cases were registered against numerous entities and persons in connection with their involvement in extortion and harassment of the public who had availed small amount of loans through the mobile apps.
During preliminary enquiries, the central probe agency found that these entities were controlled and operated by Chinese Persons. “The modus operandi of these entities is by using forged documents of Indians and making them as dummy directors of those entities, they are generating proceeds of crime,” the ED said.
ED added that, it was observed that these entities were generating proceeds of crime through various merchant IDs and accounts held with payment gateways. “…they are also not operating from the addresses given on the MCA (Ministry of Corporate Affairs) website/registered address and having fake addresses. An amount of Rs 17 crore has been seized in merchant IDs and bank accounts of these Chinese persons-controlled entities,” the ED said.
The agency further said that these entities were doing their illegal business through various merchant IDs and accounts held with payment gateways and banks.
“The premises of Razorpay Pvt Ltd, Cashfree Payments, Paytm Payment Services Ltd and entities controlled/operated by Chinese Persons are covered in the search operation,” it said.