Friday, 24 March, 2023

ED raids offices of Paytm, Razorpay and Cashfree in Chinese loan app case

<p>The ED investigated half a dozen offices that belonged to online payment gateways including Paytm, Razorpay, and Cashfree in Bengaluru as part of its investigation into the controversy involving the Chinese loan app. The Prevention of Money Laundering Act&#39;s provisions were used to conduct the searches (PMLA). The ED has opened an inquiry based on 18 FIRs filed by the Bengaluru Cyber Crime Police Station against various organisations and people.</p>