New Delhi: The Enforcement Directorate (ED) is continuing to raid the offices of various payment gateways, including Paytm, in Bengaluru as part of its action against high-speed loans provided through smartphones.
ED officials on Saturday alleged that illegal activity was being done using various payment gateways and Chinese individuals were behind it.
Officials said that the raid took place in six establishments in Bengaluru like Razorpay, Paytm, Cashfree, and so on. The ED also claimed to have seized around Rs 17 crore held in merchant IDs and accounts under entities controlled by Chinese individuals.
Fraud is perpetrated by forging documents in the name of Indians and showing them as directors. Chinese nationals are behind this. Transactions are conducted through payment gateways using these fake IDs, ED said.
