News Snapshot:
In a fresh operation targeting the money laundering network of Chinese loan apps, the Enforcement Directorate (ED) carried out searches at five locations in Bengaluru, including premises of payment gateway Razorpay, on October 19 as a part of the efforts to trace funds linked to Chinese loan apps and seized Rs 78 crore. The raids were conducted in merchant IDs and bank accounts of the Chinese-controlled entities that are operating the illegal apps. The ED began its probe of the money laundering angle based on 18 FIRs registered by the Bengaluru Central Crime branch against Chinese loan apps after complaints...
