The Enforcement Directorate (ED) announced on Tuesday that it had launched new investigations into two companies and their associated individuals as part of a money laundering investigation into entities “owned” by Chinese nationals. Mobile phone app and subsequent harassment of borrowers By accessing your personal information.
The raids were carried out on December 21 last year at 19 locations in Delhi-NCR, Chandigarh, Haryana, Punjab and Gujarat, and were carried out by Shinebay Technology India Private Limited (STIPL), Mpurse Services Private, which is “owned and controlled” by Shinebay Technology India Private Limited (STIPL). Limited (MSPL), etc. Authorities said in a statement that the attack was carried out by Chinese nationals.
“Chinese-owned and managed fintech companies, NBFCs (non-banking financial companies), and payment aggregators/gateways collaborate to offer online short-term instant loans through mobile apps and charge exorbitant interest rates on loans. “It was given to the poor,” the ED said.
So were they, it said. harassment of customers Deceptive and fraudulent activities, such as unauthorized access to a borrower’s photo gallery or phone contact list, the collection of exploitative interest rates or fees, systematic abuse or intimidation if the borrower defaults on repayments, and the intentional disclosure of personal information. By engaging in ethical conduct. Borrower data, circulating morphed photos of the borrower to contacts, sending fake legal notices, etc.
The companies allegedly employ “dummy” directors and subscribers in India to conduct business on behalf of Chinese individuals and companies.
“The Chinese, with the help of professionals such as chartered accountants, lawyers, company secretaries and consultants, have created a complex web of fintech companies and NBFCs in India,” the report said.
The money laundering case stems from police FIRs filed in Karnataka (Bengaluru Police) and Telangana (Kazipet and Jangaon Police).
The ED said Rs 1.3 crore in cash and “incriminating” documents and digital records were seized during these searches.
In June last year, the agency had conducted searches at six locations and seized bank deposits and fixed deposits worth Rs 19.43 billion.
Originally uploaded to: February 1, 2024 21:08 IST