https://www.taxtmi.com/news?id=31621 The Enforcement Directorate's probe into a digital arrest cyberfraud revealed arrests and extensive multi state searches, uncovering alleged misuse of mule accounts and cash deposit machines to route tainted cash into fintech accounts. Several fintech firms allegedly failed to comply with Know Your Customer requirements, accepted deposits from bogus entities, and enabled conversion of funds into cryptocurrency for transfer abroad. Investigators seized electronic devices and crypto assets while examining the roles of fintechs, distributors, retailers, and associated bank accounts in the laundering chain. en-us Mon, 27 Jan 2025 19:31:03 +0530 Mon, 27 Jan 2025 19:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=31621 The Enforcement Directorate's probe into a digital arrest cyberfraud revealed arrests and extensive multi state searches, uncovering alleged misuse of mule accounts and cash deposit machines to route tainted cash into fintech accounts. Several fintech firms allegedly failed to comply with Know Your Customer requirements, accepted deposits from bogus entities, and enabled conversion of funds into cryptocurrency for transfer abroad. Investigators seized electronic devices and crypto assets while examining the roles of fintechs, distributors, retailers, and associated bank accounts in the laundering chain. News - Mon, 27 Jan 2025 19:31:03 +0530 https://www.taxtmi.com/news?id=31621