New Delhi. The Enforcement Directorate (ED) is conducting raids at several places related to payment gateways i.e. Paytm and PayU in connection with a case related to Chinese loan APP. According to the information received, these raids are being done in Mumbai, Delhi, Gurugram, Lucknow and Kolkata. However, no official statement has come from the ED on this matter yet. The FIR in this case was registered by the Cyber Crime Police Station, Bengaluru City, which is now being processed. In this report, several cases have been registered against those who extorted and harassed the public taking small loans through mobile apps run by those institutions.
On this matter, the ED said that ‘during interrogation, it came to the fore that these entities are run by Chinese persons. These entities use fake documents of Indian citizens to make them dummy directors of those entities. After that, they make income illegally by using it. The ED further said that “these entities have been found to be involved in suspicious business through various merchant IDs/accounts held with payment gateways/banks, including Razorpay Pvt Ltd, Cashfree Payments, Paytm Payment Services Ltd.” These entities were being controlled/operated by Chinese persons, after which raids were conducted at many places due to the search operation.
According to the ED, “the said entities were earning illegal income by misusing various merchant IDs/accounts deposited with payment gateways/banks”. During the searches, an amount of Rs 17 crore was seized from the merchant IDs and bank accounts of the entities operated by these Chinese persons. The matter is still being probed by the ED.