CosmicTaco

ED Uncovers Money Laundering via Kirana Stores Using Illegal Betting Apps

CosmicTaco · 2024-09-06T11:37:15.221174+05:30

- The Enforcement Directorate (ED) has found illegal gaming and betting apps laundering money through kirana stores. - A 40-year-old mobile accessories shop owner in a Dahisar slum and another shop in Naya Nagar, Mira Road were implicated. - Apps like Mahadev Online Book, FairPlay, and MagicWins are under investigation. - Kirana store owners were misled into believing they were operating under the RBI's domestic money transfer framework. - ED's intensified vigilance comes amid rising influence of offshore betting platforms in India. Source: [Inc42](https://inc42.com/buzz/ed-probe-finds-illegal-gaming-betting-apps-laundering-money-through-kirana-stores/)

The Enforcement Directorate (ED) has found illegal gaming and betting apps laundering money through kirana stores.
A 40-year-old mobile accessories shop owner in a Dahisar slum and another shop in Naya Nagar, Mira Road were implicated.
Apps like Mahadev Online Book, FairPlay, and MagicWins are under investigation.
Kirana store owners were misled into believing they were operating under the RBI's domestic money transfer framework.
ED's intensified vigilance comes amid rising influence of offshore betting platforms in India.

Source: Inc42