ED freezes Rs 47 crore worth funds kept in payment gateways


NEW DELHI: The Enforcement Directorate (ED) on Friday froze Rs 46.67 crore worth funds kept in payment gateways Easebuzz, Razorpay, Cashfree, Paytm after recent raids in the Chinese loan app case.
The ED on Wednesday carried out raids against some payment gateways and others in connection with its ongoing money laundering probe linked to alleged financial irregularities by instant app-based loan companies “controlled” by Chinese persons, official sources said. They said premises linked to certain payment gateway operators, some companies engaged in these loan app transactions and operators in around three states are being searched.
The federal agency, on September 2, raided the Bengaluru-located premises of payment gateways like Paytm, Razorpay and Cashfree as part of this investigation.
Finance minister Nirmala Sitharaman had also discussed various issues related to illegal loan apps in a meeting of top ministry and RBI officers held on September 8 and decided to take a host of measures to check the operations of such apps.
These payment gateway firms have been in the crosshairs of the ED action since 2020 soon after the Covid-19 pandemic broke in the country.
(With inputs from agencies)





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