Indian agency searches fintech Paytm, Razorpay and Cashfree offices in Chinese loan apps probe – TechCrunch nsemkekaghana


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India’s financial crime fighting agency searched the offices of fintech unicorns Paytm and Razorpay as well as Cashfree on Friday as part of an ongoing investigation into fraudulent Chinese loan apps, it said Saturday, the latest in a series of probes in recent months. The Enforcement Directorate said its searches at high profile Indian firms and businesses controlled by Chinese personnel were prompted by 18 complaints made to the Cyber Crime Police in Bengaluru. The complaints alleged the businesses’ involvement in “extortion and harassment of the public who had availed small amount of loans through the mobile apps.” “During enquiries,...