The Economic Offences Wing (EOW) of Delhi Police has registered a case against the foreign-based online gaming companies alleged with money laundering racket. The EOW filed the case after the complaint by the Enforcement Directorate (ED) and initiated a thorough investigation against such companies. According to the sources, these online gaming companies are involved in illegal remittance practices among security agencies.
DCP (EOW) Vikaram Porwal stated to the press that, as per the information of ED, all these online gaming platforms were providing illegal access to Indian residents through VPN (Virtual Private Network) for masking their identity. When ED tracked these companies, they found that these gaming platforms are registered in foreign countries, and all of them are linked with Indian bank accounts, which was shocking. Further investigation found that these gaming companies were basically used on a large scale for money laundering.
As per the report, the alleged person used to collect money from the general public and further sent the collected amount outside India through Foreign Outward Remittance. All the processes were operated against the legality of importing goods or services. Additionally, companies are only available on paper, which means they don’t have any real existence.
According to the sources, the racket is also active in various other countries, including India, China, Singapore, Dubai, Hong Kong, and many more. According to ED’s report, there could be other countries and gang members who might be involved in this International Hawala money transfer. Furthermore, all these firms are registered in the name of multiple employees or hired persons using fabricated or forged documents, which makes them difficult to track.
As per the ED’s complaint, almost 188 bank accounts are linked to 166 domestic online gaming firms. It has also been estimated that out of 188 bank accounts, 110 are associated with 105 foreign companies. Among the foreign companies, 46 are based in China, 30 companies are registered in Singapore, 18 are in Hong Kong, the UAE has 7, 2 in Malaysia, and Thailand and Mauritius contain 1 company each.
Meanwhile, the EOV of Delhi police have filed an FIR against these fake companies. Further investigations are going on as per the information and complaint of ED.
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