{"id":777013610,"date":"2024-03-01T08:34:55","date_gmt":"2024-03-01T11:34:55","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777013610"},"modified":"2026-04-22T12:29:20","modified_gmt":"2026-04-22T15:29:20","slug":"india-freezes-us15m-in-chinese-betting-and-loan-app-crackdown","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/india-freezes-us15m-in-chinese-betting-and-loan-app-crackdown","title":{"rendered":"India freezes US$15m in Chinese betting and loan app crackdown"},"content":{"rendered":"\n<p>Authorities raided ten locations in three cities.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>India.-\u00a0The Enforcement Directorate (ED)\u00a0has taken action against alleged money laundering activities linked to Chinese-controlled betting and loan apps operating in India.\u00a0Authorities have frozen bank deposits totalling Rs 123 crore (US$15m)\u00a0following searches across locations in Mumbai, Chennai, and Kochi on February 23 and 24.<\/p>\n\n\n\n<p>The searches targeted entities suspected of involvement in illegal online activities, including NIUM India in Mumbai. The ED says digital devices, documents and bank accounts were seized.<\/p>\n\n\n\n<p>It is aiming to trace the proceeds of crime associated with illegal online loan, gambling, and betting apps, particularly through the use of mule accounts in Kerala. The probe was initiated based on First Information Reports&#8217; registered by Kerala and Haryana Police.<\/p>\n\n\n\n<p>The ED said that the proceeds of crime were channeled through shell companies in various Indian states before being remitted abroad through channels such as cryptocurrency and forex transactions.<\/p>\n\n\n\n<p><strong>See also:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/india-3-arrested-for-alleged-illegal-gambling-scam\" rel=\"noreferrer noopener\">India: 3 arrested for alleged illegal gambling scam<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Authorities raided ten locations in three cities.<\/p>\n","protected":false},"author":176,"featured_media":16308,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"The Enforcement Directorate (ED) in India has executed a significant regulatory intervention, freezing approximately US$15 million in bank deposits and seizing assets linked to alleged money laundering activities by Chinese-controlled illegal betting and loan applications. This action underscores the escalating focus on illicit financial flows, particularly those leveraging shell companies, cryptocurrency, and forex for cross-border remittances, posing substantial governance and compliance challenges within the iGaming and financial sectors.","focusai_entities":"Enforcement Directorate (ED), NIUM India, Kerala Police, Haryana Police","focusai_location":"India, Mumbai, Chennai, Kochi","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (1.0), operator_casino (0.8), payments_fraud_aml (1.0), investor_analyst (0.85), supplier_vendor (0.7), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Impact on Legitimate Operators?","query":"What are the anticipated long-term implications of this intensified regulatory enforcement on the operational frameworks, B2C licensing requirements, and market entry strategies for legitimate iGaming operators and financial service providers in India?"},{"label":"AML Framework Efficacy?","query":"How will this specific case influence the evolution of India's anti-money laundering (AML) and counter-terrorist financing (CTF) governance frameworks, particularly concerning cross-border cryptocurrency and forex transactions and the identification of beneficial ownership in shell companies?"}],"footnotes":""},"categories":[439,16334],"tags":[20326],"class_list":["post-777013610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legal-news","category-south-asia-news","tag-illegal-gambling"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777013610"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013610\/revisions"}],"predecessor-version":[{"id":777013638,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013610\/revisions\/777013638"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16308"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}