{"id":6749,"date":"2024-03-05T12:06:25","date_gmt":"2024-03-05T12:06:25","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2024\/03\/05\/enforcement-directorate-strikes-rs-123-crore-blow-against-chinese-betting-apps\/"},"modified":"2024-03-05T12:06:25","modified_gmt":"2024-03-05T12:06:25","slug":"enforcement-directorate-strikes-rs-123-crore-blow-against-chinese-betting-apps","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2024\/03\/05\/enforcement-directorate-strikes-rs-123-crore-blow-against-chinese-betting-apps\/","title":{"rendered":"Enforcement Directorate Strikes Rs 123 Crore Blow Against Chinese Betting Apps"},"content":{"rendered":"<div>\n<p>An important milestone was the announcement made by the Indian government\u2019s top law enforcement body, the Enforcement Directorate (ED), that bank deposits worth Rs 123 crore had been frozen. The action comes after the Prevention of Money Laundering Act was applied to ten different sites in Mumbai, Chennai, and Kochi, resulting in thorough searches.<\/p>\n<p>The searches on February 23 and 24 targeted a number of organizations, including NIUM India Pvt Ltd, Xoduz Solution Pvt Ltd, Vikrah Trading Enterprises Pvt Ltd, and others, according to disclosures made by the ED. The goal of the investigation was to find proof of illicit internet lending, gaming, or betting apps that were supposedly under Chinese control.<\/p>\n<p>The searches yielded significant findings, including digital devices, incriminating documents, and multiple bank accounts linked to money laundering activities. ED officials also uncovered details of movable and immovable assets belonging to the accused individuals and entities.<\/p>\n<p>ED elaborated that the investigation primarily focused on tracking the proceeds of crime associated with illicit online activities, particularly through mule accounts in Kerala. The agency aims to dismantle the complex network used for laundering funds generated from fraudulent online loan, gambling, or betting apps.<\/p>\n<p>Further revelations by ED shed light on the sophisticated methods employed by the accused. Funds were allegedly collected through shell companies across multiple Indian states and remitted outside India via various channels, including cryptocurrency transactions and fake imports of software from Singapore.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n\t\t<amp-img alt=\"Katsubet\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Katsubet.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Katsubet\" target=\"_blank\" rel=\"nofollow noopener\">Katsubet<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>5BTC or 111% + 111 Free Spins!<\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive 111% Welcome Bonus  + 111 Free Spins<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/katsubet-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow noopener\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>It is alleged that the defendants created many shell businesses in India to help transfer illegal monies to shell firms in Singapore. Fake invoices processed by international currency settlement platforms were used to carefully mask the source of the profits of crime in these transactions.<\/p>\n<p>ED drew attention to shortcomings in the documentation processes, namely with regard to NIUM India Pvt Ltd, which purportedly only gathered fraudulent invoices as supporting documents. The concealing of unlawful transactions from banking and monitoring authorities was made possible by this inadequate control.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/enforcement-directorate-strikes-rs-123-crore-blow-against-chinese-betting-apps\/\">Enforcement Directorate Strikes Rs 123 Crore Blow Against Chinese Betting Apps<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>An important milestone was the announcement made by the Indian government\u2019s top law enforcement body, the Enforcement Directorate (ED), that bank deposits worth Rs 123 crore had been frozen. The action comes after the Prevention of Money Laundering Act was applied to ten different sites in Mumbai, Chennai, and Kochi, resulting in thorough searches. The [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-6749","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6749","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=6749"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/6749\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=6749"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=6749"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=6749"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}