ED Freezes ₹123 Crore Linked to Illegal Online Activities

The Enforcement Directorate (ED) has taken action against illegal online loans, gambling, and betting apps, freezing approximately ₹123 crore held in the bank accounts of NIUM India Private Limited. The probe, conducted under the Prevention of Money Laundering Act (PMLA), stems from criminal cases filed in Haryana and Kerala regarding complaints of harassment and cheating through online platforms.

Following searches in Mumbai, Chennai, and Cochin, the ED suspects the frozen amount to be part of the proceeds from the alleged criminal activities. Investigations revealed a complex money laundering scheme involving shell companies in India and Singapore, with funds ultimately remitted outside India through various channels, including cryptocurrency and fake software imports. The agency alleges that fake invoices were used to conceal the illicit transactions, facilitating the laundering of proceeds out of India.