Laundering

The Directorate of Enforcement (ED) has investigated Paytm since 2021 over alleged money laundering and illegal betting, said people with knowledge of the matter. Revenue secretary Sanjay Malhotra had said on Saturday that the ED “will probe Paytm Payments Bank if any fresh charges of fund siphoning are found.”Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM KozhikodeIIMK Advanced Data Science For ManagersVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiIITD…

One 97 Communications, the parent entity that owns and operates the Paytm brand, has denied media reports that it is being investigated by the Enforcement Directorate (ED). In a stock exchange filing late Sunday, the company, which owns 49% stake in Paytm Payments Bank, said, “(We) Categorically deny any investigation by the Enforcement Directorate on OCL, our associates and/or its Founder & CEO for anti-money laundering activities. Neither the Company nor its founder and CEO are being investigated by the Enforcement…

On the shallow surface of Instagram, Ramon “Hushpuppi” Abbas was a quintessential influencer. The flamboyant Nigerian portrayed a lavish lifestyle of private jets, luxury cars, and designer clothes. His glamorous adventures had earned him over 2 million followers and millions of dollars. But his posts concealed a darker reality. The 41-year-old was “one of the most prolific money launderers in the world,” according to the FBI. By his own admission, Hushpuppi conspired to launder over $300mn in…

The recent raid on certain fintech firms that are believed to be backed by China led to the discovery of certain firms using "dummy" directors and local subscribers to operate on behalf of Chinese entities within India The…

The Enforcement Directorate has arrested three vivo-India executives in connection with its money laundering probe against the Chinese smartphone-maker and some others, official sources said on Saturday. Interim CEO of vivo-India Hong Xuquan alias Terry, Chief Financial Officer (CFO)Harinder Dahiya and consultant Hemant Munjal have been taken into custody under the provisions of the Prevention of Money Laundering Act (PMLA), they said. We are now on WhatsApp. Click to join. The federal agency had earlier arrested four…

The ED has officially filed its first charge sheet in connection with the ongoing money laundering investigation involving Chinese smartphone manufacturer Vivo, Lava, and several other entities. The companies have also been accused of tax evasion…

Once the most powerful man in Crypto, has resigned and pleaded guilty to violating US anti-money laundering laws as part of a substantial $4.3 billion settlement. As part of the settlement, Zhao is personally paying $50 million and is barred from any involvement in Binance.…

Binance founder Changpeng Zhao (CZ) will step down from his CEO duties and plead guilty to criminal charges, paying a $50 million fine, according to court documents made public Tuesday. The Department of Justice is expected to announce a $4 billion settlement with Binance this afternoon, putting an end to an investigation by the CFTIC into the world’s largest crypto exchange.The Biggest Crypto Heists of 2022…So FarBinance U.S. may live to trade another day, but not with CZ at the helm. New details emerged Tuesday around a…

US prosecutors claim Binance processed around $275 million in both deposits and withdrawals to BestMixer, a cryptocurrency “mixing” service designed to make cryptocurrency transactions harder to trace before Dutch law enforcement shut down that service in May of 2019 as part of a money laundering investigation. The charging document goes on to allege that Binance users included ransomware gangs, hackers who had plundered crypto from other exchanges, and scammers.For years after its founding in 2017, the prosecutors say,…

India’s Enforcement Directorate, its anti-money laundering agency, has found that Byju’s violated the nation’s foreign exchange law to the tune of $1.08 billion, a person familiar with the matter told TechCrunch. The findings, which ED plans to make public as early as Tuesday, follows the agency searching the premises of Byju’s and its founder Byju Raveendran in late April. At the time, the agency said it had found and seized “incriminating” documents and digital data at the firm’s premises.…