Download App

Startup Showcase

Join our whatsapp channel for quick updates

Switch theme

Blog . Feedback . Privacy

© 2024 Medial Tech Pvt. Ltd.

News on Medial

Illicit betting, gaming apps laundering money via kirana stores, finds ED

Economic Times

Economic Times · 2m

Illicit betting, gaming apps laundering money via kirana stores, finds ED

The Enforcement Directorate (ED) has discovered a money laundering operation conducted by illegal gaming and betting apps through local retail stores. Shop owners were deceived into believing they were participating in the domestic money transfer system. The ED found that a large portion of transactions processed by small retailers were payouts to winners of gaming and betting apps. These operators used various methods, including hawala networks and cryptocurrency, to obscure the financial trail. The probe agency suspects losses of over Rs 1 lakh crore and is investigating offshore gaming applications.

11

1

Comments

PRATHAM

PRATHAMExperimenting On learning....

It was already know by me tho , by looking some working mechanisms of these betting sites like 1xbet

Reply

0

2 months ago

More Like this

Mahadev Betting App Case: ED Files Fresh Chargesheet, Names 25 Accused

Mahadev Betting App Case: ED Files Fresh Chargesheet, Names 25 Accused

Mahadev Betting App Case: ED Probe Finds Dummy Companies Used To Funnel Funds Into Stock Market

Mahadev Betting App Case: ED Probe Finds Dummy Companies Used To Funnel Funds Into Stock Market

Mahadev app and the alleged money laundering scandal

Mahadev app and the alleged money laundering scandal

India To Push FATF To Bring Gaming Under AML Framework

India To Push FATF To Bring Gaming Under AML Framework

ED Cracks Down: INR 90 Cr Seized from Crypto Giants

ED Cracks Down: INR 90 Cr Seized from Crypto Giants

Mahadev Betting Scam: ED Arrests 2 More Accused, Probe Finds Manipulation Of Stocks

Mahadev Betting Scam: ED Arrests 2 More Accused, Probe Finds Manipulation Of Stocks

ED Arrests Four Accused In INR 400 Cr Gaming App Fraud

ED Arrests Four Accused In INR 400 Cr Gaming App Fraud

Arrests continue in Mahadev Betting app case: Two with ‘Close’ links to other accused held

Arrests continue in Mahadev Betting app case: Two with ‘Close’ links to other accused held

From Juice and Tyre Shops to the Mahadev Money Laundering Scheme The Rise and Fall of Sourabh Chandrakar and Ravi Uppal

From Juice and Tyre Shops to the Mahadev Money Laundering Scheme The Rise and Fall of Sourabh Chandrakar and Ravi Uppal

Mahadev Betting App Scam: Mastermind Saurabh Chandrakar Arrested In UAE

Mahadev Betting App Scam: Mastermind Saurabh Chandrakar Arrested In UAE

Top Users

Trending Posts on Medial

The winner of our last giveaway where we asked Medial members "Who’s the most knowledgeable shark in ....

so, how many of you sent an email to d@zomato.com today :P ....

Tanmay bhat said "Only a foolish would not give luck any credit" This is so apt. Like I can't imag ....

Share your answer for a chance to win the book "Surrounded by Idiots" by Thomas Erikson. Go! Deadl ....

Basics on Medial🟣 Difference between b2c and d2c ....

Top News of the Day: 1. Google has been under fire in multiple antitrust trials for its internal co ....

What is costlier? ....

If ChatGPT got angry because of you, all it needs to do is add a simple instruction in its memory, a ....

Man behind India's third-largest food app after Zomato and Swiggy. 1. Anshoo Sharma had everything ....

Hey devs can I know how much would be the cost / how manu users it supports at x amount of time : f ....

Download the medial app to read full posts, comements and news.