The Directorate of Enforcement said it had conducted search operations under the country’s anti-money-laundering act. The office raids came a few days after India’s Congress raised the case of Chinese loan apps in India. — SCMP
India’s anti-money-laundering agency has raided the offices of several payment services as part of an ongoing probe into the alleged misconduct of lending apps backed by Chinese nationals, the agency said in a statement at the weekend.
The Directorate of Enforcement said it had conducted search operations under the country’s anti money laundering act of the premises of Razorpay, Paytm Payment Services, and Cashfree Payments in Bangalore in Karnataka state. The agency said it had seized US$2.1mil (RM9.43mil) in suspicious bank accounts.
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