Paytm denies ED probe in crypto scam, calls reports 'factually incorrect'
2 months ago

Paytm denies ED probe in crypto scam, calls reports 'factually incorrect'

India Today  

Digital payments firm Paytm has denied media reports that indicated it is being investigated by the Enforcement Directorate in connection with a Rs 2,200 crore cryptocurrency scam. In a stock exchange filing, the company said it had not received any new notice or communication from the ED and termed the reports as “factually incorrect and misleading.” A few media reports have claimed that the ED is investigating eight payment gateways, including Paytm, Razorpay, and PayU, in a scam involving 10 Chinese nationals across 20 states. In response, Paytm said, “We confirm that we have not received any such new notice, communication, or query from the Enforcement Directorate regarding the matter mentioned in the media articles.” “The information published is factually incorrect and misleading and we had not received any query from the media prior to the publishing of this news article,” it added. PAYTM SHARES IN RED Paytm shares fell up to 9% during Friday’s session, hitting a low of Rs 773.90, before recovering slightly to trade 3.36% lower at Rs 820.40 around 12:55 pm.

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History of this topic

Paytm under ED lens for FEMA violations, gets Rs 611 crore notice
3 weeks, 1 day ago

Paytm under ED lens for FEMA violations, gets Rs 611 crore notice

India Today  

The Enforcement Directorate has issued a notice to Paytm and its units, accusing them of violating the country’s foreign exchange laws, amounting to Rs 611 crore. The investigation agency said that Paytm failed to follow the rules under the Foreign Exchange Management Act while making an investment in Singapore, reported news agency Reuters. According to the ED, Paytm received foreign …

ED issues FEMA notice to Paytm, 2 arms for transactions before acquisition
3 weeks, 3 days ago

ED issues FEMA notice to Paytm, 2 arms for transactions before acquisition

Live Mint  

Paytm announced on Saturday, March 1, 2025, that it has received a show-cause notice from the crime-fighting agency Enforcement Directorate for allegedly violating certain Foreign Exchange Management Act rules. The notice relates to violations related to the acquisition of two subsidiaries - Little Internet Pvt Ltd and Nearbuy India Pvt Ltd for the years 2015 to 2019, with respect to …

ED raids multiple cities in Rs 600 crore crypto scam case
1 month ago

ED raids multiple cities in Rs 600 crore crypto scam case

New Indian Express  

NEW DELHI: The Enforcement Directorate has conducted raids in several cities, including Delhi, Jaipur, and Mumbai, under the Foreign Exchange Management Act in connection with a Rs 600 crore cryptocurrency conversion case. "When users entered the login credentials, the spoofed website would show it wrong and thus the users would contact the number given on the spoofed website which would …

ED Seizes Rs 1,646 Crore in Cryptocurrency in BitConnect Fraud Case
1 month, 1 week ago

ED Seizes Rs 1,646 Crore in Cryptocurrency in BitConnect Fraud Case

Deccan Chronicle  

The Enforcement Directorate has seized cryptocurrency worth Rs 1,646 crore during its ongoing investigation into the BitConnect cryptocurrency fraud. The seizure, which also includes Rs 13,50,500, an SUV, and several digital devices, follows searches conducted in Gujarat on February 11 and 15. The ED traced a complex network of crypto wallets involved in the transactions, many of which were linked …

ED seizes ₹1,646 crore under PMLA case in ‘biggest-ever’ cryptocurrency fraud
1 month, 1 week ago

ED seizes ₹1,646 crore under PMLA case in ‘biggest-ever’ cryptocurrency fraud

Live Mint  

The Enforcement Directorate has seized its biggest-ever cryptocurrency worth ₹1,646 crore as part of a "mega" money laundering investigation into a fraud investment scheme where several depositors were duped in the name of securities investment. As per PTI, crypto worth ₹1,646 crore was seized and transferred into the agency's special crypto wallet, making it the biggest-ever seizure of virtual digital …

Gujarat: ED seizes Rs 1,646 crore from US-wanted scammer in biggest crypto fraud
1 month, 1 week ago

Gujarat: ED seizes Rs 1,646 crore from US-wanted scammer in biggest crypto fraud

India Today  

The Enforcement Directorate has seized cryptocurrencies worth approximately Rs 1,646 crore in Ahmedabad, Gujarat, as part of its investigation into the massive BitConnect scam. The case revolves around Satish Kumbhani, the founder of the now-defunct crypto investment platform BitConnect, who has been under the scrutiny of the US Department of Justice for orchestrating one of the world's largest cryptocurrency frauds. …

‘No query from ED’: Paytm denies reports of facing probe in ₹2,200 crore crypto scam
2 months ago

‘No query from ED’: Paytm denies reports of facing probe in ₹2,200 crore crypto scam

Live Mint  

Paytm clarified on Friday, January 24, that it had not received any fresh notice, communication, or query from the Enforcement Directorate after reports suggested that the leading fintech major was among companies facing a probe over ongoing cryptocurrency scams. "We confirm that we have not received any such new notice, communication, or query from the ED regarding the matter mentioned …

Paytm Denies Reports Of ED Freezing Funds Worth Rs 500 Cr In Crypto Scam Investigation
2 months ago

Paytm Denies Reports Of ED Freezing Funds Worth Rs 500 Cr In Crypto Scam Investigation

ABP News  

Paytm has dismissed recent media reports claiming that the Enforcement Directorate froze nearly Rs 500 crore in virtual accounts linked to several payment gateways, including PayU and Paytm. Paytm reportedly clarified that it has not received any formal notice from the ED and described the ongoing reports as relating to previous investigations concerning third-party merchants. #JustIN | #Paytm clarifies, have …

Payment gateways under ED probe in crypto scam? Paytm, Razorpay reject reports – ‘Factually inaccurate’
2 months ago

Payment gateways under ED probe in crypto scam? Paytm, Razorpay reject reports – ‘Factually inaccurate’

Live Mint  

Eight payment gateways, including Paytm, RazorPay, PayU, and Easebuzz, have come under the Enforcement Directorate scanner in connection with a ₹2,200 crore raised across 20 states and linked to 10 Chinese nationals in a cryptocurrency scam. “The recent media news or reports suggesting Razorpay is under scrutiny by the Enforcement Directorate are factually inaccurate and misleading. “The investigations referenced in …

Crypto currency scam: ED freezes ₹12.5cr in Thane, Navi Mum, other cities
3 months, 2 weeks ago

Crypto currency scam: ED freezes ₹12.5cr in Thane, Navi Mum, other cities

Hindustan Times  

MUMBAI: The Enforcement Directorate froze Proceeds of Crime worth ₹12.5 crore, in the form of bank balances, fixed deposits and mutual funds, as part of its money-laundering probe into an alleged multi-crore fraud against multiple investors on the pretext of doubling their investment through the app, HPZ Token, and online gaming and betting websites. Crypto currency scam: ED freezes ₹ …

HPZ Token scam: ED attaches assets worth ₹106.2 crore
3 months, 3 weeks ago

HPZ Token scam: ED attaches assets worth ₹106.2 crore

Hindustan Times  

MUMBAI: The Enforcement Directorate has provisionally attached the proceeds of crime in the form of movable and immovable assets belonging to several suspects, including Chinese-linked shell entities, accused of conning investors of hundreds of crores on the promise that their investments would get doubled through a mobile application, HPZ Token, online gaming and betting websites. HPZ Token scam: ED attaches …

ED Attaches Rs 32 Crore in Part Time job Fraud Case
11 months, 3 weeks ago

ED Attaches Rs 32 Crore in Part Time job Fraud Case

Deccan Chronicle  

Hyderabad: Officials from Hyderabad Enforcement Directorate attached Rs 32.34 crore that was lying unused in around 580 bank accounts, under the provisions of Prevention of Money Laundering Act, 2002, in a case pertaining to a part-time job scam in the name of review and ratings of websites, hotels and resorts. The cyber criminals would approach gullible persons on WhatsApp and …

Paytm crisis: No forex violations found by probe agency yet, says report
1 year, 1 month ago

Paytm crisis: No forex violations found by probe agency yet, says report

India Today  

An investigation into potential foreign exchange breaches at Paytm Payments bank by the Enforcement Directorate of India hasn't uncovered any violations yet, according to a government source familiar with the situation, news agency Reuters reported. Since the Reserve Bank of India's announcement on January 31st that Paytm Payments Bank couldn't take in new funds, Paytm's shares have plummeted by over …

ED finds no FEMA violation in Paytm Payments Bank case
1 year, 1 month ago

ED finds no FEMA violation in Paytm Payments Bank case

The Hindu  

February 17, 2024 03:00 am | Updated 11:44 am IST - NEW DELHI The Enforcement Directorate has not found any violation under the Foreign Exchange Management Act during the inquiry of Paytm Payments Bank Limited transactions. On January 31, the RBI had issued a circular barring PPBL from taking further deposits, top-ups or undertaking credit transactions into its customer accounts, …

Paytm share price hits all-time low amid ED probe against fintech firm
1 year, 1 month ago

Paytm share price hits all-time low amid ED probe against fintech firm

Hindustan Times  

Paytm shares hit all-time low on Thursday amid the Enforcement Directorate probe against the fintech firm following the Reserve Bank of India action against Paytm Payments Bank. The declining share prices have added more salt to the wounds of Paytm, which is now under Enforcement Directorate investigation after the RBI barred its subsidiary Paytm Payments Bank from accepting new deposits …

ED questions Paytm officials, gets documents on RBI action: Report
1 year, 1 month ago

ED questions Paytm officials, gets documents on RBI action: Report

Hindustan Times  

The Enforcement Directorate questioned senior Paytm officials and had got documents from them following the Reserve Bank of India action against Paytm Payments Bank, officials told PTI. In a regulatory filing, Paytm had said,"One 97 Communications Limited, its subsidiaries and its associate, Paytm Payments Bank Limited, have over time been receiving notices and requisition for information, documents and explanations from …

ED questions Paytm executives, collects documents on RBI restrictions
1 year, 1 month ago

ED questions Paytm executives, collects documents on RBI restrictions

India TV News  

The Enforcement Directorate has questioned senior executives at Paytm and collected documents from them in response to the recent Reserve Bank of India action, which barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account. One97 Communications, the parent company of Paytm, and its banking arm, Paytm Payments Bank, have been receiving notices and requests for …

Paytm Under ED Lens, Agency Seeks Documents From RBI For Enquiry
1 year, 1 month ago

Paytm Under ED Lens, Agency Seeks Documents From RBI For Enquiry

News 18  

The Enforcement Directorate has begun an enquiry against Paytm. In the latest development, CNN-News18 learned that ED has sought documents on Paytm from RBI and a decision on whether an ECIR can be registered will be taken after the scrutiny. Since then, the agency has asked RBI at least twice for papers related to Paytm Payments Bank. Earlier, One97 Communications, …

Paytm shares crash after case against payments bank. More trouble ahead?
1 year, 1 month ago

Paytm shares crash after case against payments bank. More trouble ahead?

India Today  

Shares of One97 Communications Limited, the parent firm of digital payments firm Paytm, nosedived 10 per cent to hit a lower circuit for the second consecutive day. While Paytm shares had rebounded slightly to settle above the day’s low earlier, the reports of the fresh ED probe against its associate payments bank seems to have rattled investors. The biggest dip …

ED initiates probe into charges against Paytm Payments Bank, says report
1 year, 1 month ago

ED initiates probe into charges against Paytm Payments Bank, says report

India TV News  

ED initiates probe into charges against Paytm Payments Bank, says report The RBI had restricted Paytm Payments Bank from taking deposits, credits, or processing top-up transactions in customer accounts due to persistent non-compliances. The Enforcement Directorate has initiated a preliminary inquiry into the operations of Paytm, the fintech major's banking unit, Paytm Payments Bank. Paytm has affirmed its commitment to …

No ED Investigation On Paytm, Confirms Revenue Secretary
1 year, 1 month ago

No ED Investigation On Paytm, Confirms Revenue Secretary

ABP News  

Following Paytm's denial of an Enforcement Directorate investigation against it, Revenue Secretary Sanjay Malhotra, in an interview with Moneycontrol, emphasised that no law enforcement agencies have taken action against the prominent fintech company. This clarification comes amid speculations and misleading media reports suggesting Paytm's involvement in money laundering. The filing clarified that neither the company nor its founder and CEO …

ED probing Paytm and bank unit over currency transactions: sources
1 year, 1 month ago

ED probing Paytm and bank unit over currency transactions: sources

The Hindu  

India's financial crime-fighting agency is investigating if platforms run by One 97 Communications, also known as Paytm, were involved in violations of foreign exchange rules, two senior Government sources said. The Reserve Bank of India ordered Paytm Payments Bank to wind down most of its businesses, including deposits, credit products and its popular digital wallets, by Feb. 29. The Paytm …

Paytm crisis: No ED investigation either against company or CEO, company asserts
1 year, 1 month ago

Paytm crisis: No ED investigation either against company or CEO, company asserts

Hindustan Times  

The Enforcement Directorate is neither investigating owner of Paytm brand- One97 Communications- nor its founder and CEO Vijay Shekhar Sharma for money laundering, the company said. We have and continue to abide by Indian laws and take regulatory orders with utmost seriousness.” This comes following a recent RBI order that barred Paytm Payments Bank Ltd from taking any further deposits, …

Paytm terms reports of ED probe, foreign exchange rule violation as ‘misleading and baseless’ | DETAILS
1 year, 1 month ago

Paytm terms reports of ED probe, foreign exchange rule violation as ‘misleading and baseless’ | DETAILS

India TV News  

Paytm terms reports of ED probe, foreign exchange rule violation as ‘misleading and baseless’ | DETAILS The development comes amid speculations over the company’s operations following Reserve Bank of India’s action against its associate Paytm Payments Bank. Business news: Paytm on Monday issued a statement denying reports of an Enforcement Directorate investigation or violation of Foreign Exchange rules by the …

ED attaches ₹6.47cr assets of Chinese company in job fraud case
1 year, 6 months ago

ED attaches ₹6.47cr assets of Chinese company in job fraud case

The Hindu  

Officials of the Directorate of Enforcement have attached the movable assets worth ₹6.47 crore, including ₹71.3 lakh in the form of cryptocurrency in the China-linked part time job fraud case under the Prevention of Money Laundering Act. A release said the investigation revealed that gullible youth were cheated by certain Chinese persons through a mobile app, “Keepsharer,” through which they …

ED conducting searches on some Paytm, PayU premises: Report
2 years, 6 months ago

ED conducting searches on some Paytm, PayU premises: Report

Live Mint  

The Enforcement Directorate was conducting searches on certain premises of One 97 Communications Ltd's Paytm and payment solutions provider PayU, according to a Reuters report. Commenting on the matter, a Paytm spokesperson said, “As we have mentioned before, ED continues to seek information about certain merchants from various payment service providers, we have shared the required information.” Recently, the ED …

Karnataka: ED intensifies probe against accused hacker in 'cryptocurrency scam' amid political blame game
3 years, 4 months ago

Karnataka: ED intensifies probe against accused hacker in 'cryptocurrency scam' amid political blame game

India Today  

Amid political blame games in Karnataka over an alleged "cryptocurrency scam" worth over Rs 9 crore, the Enforcement Directorate has intensified its probe against the main accused, named Srikrishna Ramesh. Last week, former Karnataka chief minister and Congress leader Siddaramaiah alleged that politicians and officials were involved in a "cryptocurrency scam" in the state and the investigation agencies were trying …

Will come out of it soon: PC Financial on its ED probe for Chinese links
3 years, 5 months ago

Will come out of it soon: PC Financial on its ED probe for Chinese links

India Today  

PC Financial Services Pvt Ltd, a non-banking financial organisation which is being investigated by the Enforcement Directorate for their alleged link with a Chinese national, on Wednesday said that they would be out of this situation very soon. The ED recently initiated a probe under the Foreign Exchange Management Act against PC Financial Services Pvt Ltd, which provides instant personal …

ED issues show-cause notice to Mumbai firm over illegal cryptocurrency trade, finds involvement of Chinese nationals
3 years, 9 months ago

ED issues show-cause notice to Mumbai firm over illegal cryptocurrency trade, finds involvement of Chinese nationals

India Today  

The Enforcement Directorate on Friday issued a show-cause notice to a Mumbai-based firm involved in cryptocurrency exchange and its directors Nischal Shetty and Sameer Hanuman Mhatre under Foreign Exchange Management Act. During the course of the investigation, it was found that the accused Chinese nationals had allegedly laundered proceeds of crime worth Rs 57 crore by converting the INR deposits …

ED charge sheet against Himachal company in R407-cr money-laundering case
4 years ago

ED charge sheet against Himachal company in R407-cr money-laundering case

India Today  

The Enforcement Directorate Thursday filed a charge sheet before the Special Court in Shimla against 15 directors and promoters of a Himachal-based company in connection with a bank fraud case under the Prevention of Money Laundering Act. The financial probe agency has named Indian Technomac Company Limited, its Managing Director Rakesh Kumar Sharma, its Director Vinay Kumar Sharma and 12 …

ED quizzes Raj Kundra in ₹2,000 crore bitcoin scam
6 years, 9 months ago

ED quizzes Raj Kundra in ₹2,000 crore bitcoin scam

Live Mint  

Mumbai: Businessman Raj Kundra was summoned on Tuesday by the Enforcement Directorate for questioning on his alleged role in a bitcoin scam. It is however unclear at the moment whether Kundra, the husband of actress Shilpa Shetty, played a role or was a victim in the ₹ 2,000 crore scam, said an ED official. “Raj Kundra was called for questioning …

ED probe into Saradha money trail in final stages: official
10 years, 6 months ago

ED probe into Saradha money trail in final stages: official

India TV News  

Kolkata: The Enforcement Directorate which initiated the money laundering probe into the multi-crore Saradha scam in April 2013 was in the process of finalising its investigation, ED officials said. "The ED probe is in the final stages and we have been able to trace a substantial part of the proceeds of the crime," Special Director, Enforcement Directorate said. "Once the …

NSEL scam: ED seeks details from Mumbai police
11 years, 5 months ago

NSEL scam: ED seeks details from Mumbai police

The Hindu  

Suspecting large-scale money laundering in NSEL’s Rs 5,600 crore payout scam, Enforcement Directorate has sought details of the case from Mumbai Police, indicating that the central agency would also initiate a probe into it soon, a police official said on Wednesday. The reason is obvious that the central agency also wants to probe the allegations of money laundering on a …

2G probe: ED seeking info from tax havens on telcos’ funding
14 years, 3 months ago

2G probe: ED seeking info from tax havens on telcos’ funding

The Hindu  

Widening its ambit of probe in the multi-crore 2G scam, the Enforcement Directorate has begun the process of issuing Letters Rogatory to at least 10 countries — including tax havens like Isle of Man, Cyprus and Mauritius — to know the source of funding to telecom companies, which were allotted spectrum. The ED, which is jointly probing the scam with …

Money Trail In 2g Spectrum Scam Covers 10 Countries: ED
14 years, 3 months ago

Money Trail In 2g Spectrum Scam Covers 10 Countries: ED

India TV News  

New Delhi, Dec 8 :The Enforcement Directorate, in its report on 2G Spectrum allocation scam submitted to the Supreme Court, is understood to have said that the case has international ramifications as the money trail covers ten countries, including Mauritius. Pointing out that enlisting the cooperation of governments of the ten countries was necessary to trace the money trail, the …

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