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ED Freezes Funds Value Rs. 46.67 Crore Saved in Cost Gateways Easebuzz, Razorpay, Cashfree, and Paytm: Report


The Enforcement Directorate (ED) has reportedly carried out raids in opposition to Chinese language-controlled mortgage apps and funding tokens and frozen funds price Rs. 46.67 crore saved in cost gateways comparable to Easebuzz, Razorpay, Cashfree and Paytm. The federal company is claimed to have frozen accounts beneath the anti-money laundering legislation. Searches have been carried out on Wednesday at a number of premises of the accused in Delhi, Mumbai, Ghaziabad, Lucknow and Gaya, as per a report. Round Rs. 33.36 crore was reportedly discovered with Easebuzz in Pune, whereas Rs. 8.21 crore was detected from Razorpay in Bangalore.

In accordance with a PTI report, ED had carried out raids at premises of on-line cost gateways together with Easebuzz, Razorpay, Cashfree and Paytm earlier this week as a part of an ongoing investigation on Chinese language-controlled companies and funding tokens. The central company has seized Rs. 46.67 crore price of funds saved in numerous financial institution accounts and digital accounts.

The raids have been carried out beneath provisions of the Prevention of Cash Laundering Act (PMLA), 2002. As per the report, the case was registered by the cybercrime unit of Kohima Police in Nagaland in October 2021.

On Wednesday, searches have been reportedly carried out at a number of premises of the accused in Delhi, Mumbai, Ghaziabad, Lucknow, and Gaya. Sixteen premises of banks and cost gateways in Delhi, Gurugram, Mumbai, Pune, Chennai, Hyderabad, Jaipur, Jodhpur and Bengaluru have been searched with respect to an investigation associated to an app-based token named HPZ and different entities, talked about the report citing an announcement by ED.

The ED reportedly recovered numerous incriminating paperwork throughout the search operation. Funds have been discovered to be saved within the digital accounts of the concerned entities with cost aggregators. A complete of Rs. 33.36 crore was discovered with Easebuzz in Pune, whereas Rs. 8.21 crore was seized from Razorpay in Bangalore. The ED discovered Rs. 1.28 crore with Cashfree Funds in Bangalore and Rs. 1.11 crore with Paytm in New Delhi.


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