How are online gaming companies being investigated by the Enforcement Directorate
ED zeroes in on online gaming companies, websites set up in Curacao, Malta and Cyprus.
- The Enforcement Directorate (ED) is investigating online gaming companies based in jurisdictions like Curacao, Malta, and Cyprus for potential money laundering activities.
- These websites are under scrutiny due to suspicions of illegal fund transfers and unregulated transactions.
- ED is focusing on tracking the flow of funds through these online gaming platforms to determine if they are being used for illicit purposes.
- Companies operating in offshore locations like Curacao, Malta, and Cyprus are being targeted as they may exploit the lenient regulatory framework in these jurisdictions.
- The investigation aims to uncover any violations of the Prevention of Money Laundering Act (PMLA) and other financial regulations.
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a year ago