News Snapshot:
Officials of Directorate of Enforcement (ED) on Wednesday provisionally attached assets worth ₹6.17 crore belonging to various fintech companies under the Prevention of Money Laundering Act (PMLA), 2002. The ED initiated money laundering investigations on the basis of two separate FIRs registered by the Marathahalli police station and the Mahalakshmipuram police station under various sections of IPC, 1860. Investigation revealed that the accused persons, along with Chinese nationals, opened various companies in the name of several various persons for the purpose of illegal transactions, offering loans, and raising investments through mobile apps like Cash Master, Krazy Rupee, Cashin, Rupee Menu...
