Payment gateways under probe for 'money transfers' to Chinese apps

ETtech
Illustration: Rahul Awasthi
A bunch of Indian payment gateway companies are being investigated by the Enforcement Directorate (ED) under prevention of money laundering act for allowing Indian customers to transfer money to Chinese betting apps. As per the investigations several Indians were betting on Chinese apps and the money was transferred to the Cayman Islands.
Any payment made by Indians to any app or a wallet must be routed through a payment gateway.
This would be the first time the ED triggered Prevention of Money Laundering Act of 2002 (PMLA) or PMLA against the payment gateway companies.
Investigators have found that payment gateway companies apparently boarded Chinese apps and allegedly allowed processing without adequate due diligence.

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