Friday, Sep 25, 2020 | Last Update : 04:19 AM IST

185th Day Of Lockdown

Maharashtra128396397321434345 Andhra Pradesh6543855794745558 Tamil Nadu5636915082109076 Karnataka5485574446588331 Uttar Pradesh3742773076115366 Delhi2606232243755123 West Bengal2378692080424606 Odisha196888161044805 Telangana1792461481391070 Bihar174266159700878 Assam165582135141608 Kerala15445898720614 Gujarat1289491093113382 Rajasthan1227201023301352 Haryana118554984101177 Madhya Pradesh115361814752007 Punjab105220814752860 Chhatisgarh9562358833680 Jharkhand7643862945626 Jammu and Kashmir68614480791024 Uttarakhand4440432154501 Goa3055224347360 Puducherry2489519311467 Tripura2378616955245 Himachal Pradesh133869232125 Chandigarh109688342123 Manipur9537736959 Arunachal Pradesh8416607113 Nagaland5730459810 Meghalaya4733252838 Sikkim2447190529 Mizoram158510120
  India   All India  15 Sep 2020  At least 30 lakh Indian bank accounts beneficiary of Chinese online gaming fraud

At least 30 lakh Indian bank accounts beneficiary of Chinese online gaming fraud

THE ASIAN AGE. | VIKRAM SHARMA
Published : Sep 15, 2020, 2:20 pm IST
Updated : Sep 15, 2020, 2:20 pm IST

The multi-crore online gaming fraud which was busted last month

Representational image.
 Representational image.

Hyderabad: Sources told Deccan Chronicle that close to thirty lakh bank accounts across India are beneficiaries of the companies involved in the online gaming fraud, headquartered in China, to which payments, ranging from a few thousands to lakhs of rupees were made, after defrauding them of 10 times more than the money they had invested by placing bets on the companies.

Transactions of Rs 1 crore and more have been found in each of the nearly 100 accounts, suspected to have been used for hawala transactions. It is suspected that around 20 lakh people would have actually placed bets while the remaining were receiving payments through hawala.

 

After investigation into the multi-crore online gaming fraud which was busted last month, investigators have now begun to write to all the banks to immediately freeze those 100 accounts while the remaining accounts are being scrutinised. An amount of Rs 9 crore was parked with Razorpay, a payment gateway.

The detectives had stumbled upon a Hyderabad-based merchant dealing in human hair who was receiving payments through hawala and there were many more like him who were using the same route to receive payments.  It was found that another gaming company, "Aoke Club", established by the Chinese company had an account with  Cashfree, through which an amount of Rs 80 lakh was deposited into the bank account of the local merchant.

 

This way, both parties do business, evade taxes and import duty, among other charges in both countries. The merchant had been a regular supplier of human hair to a Kolkata-based exporter, who in turn was exporting tonnes of hair to China over the last many years.

Senior executives of Razorpay were summoned by the CCS who explained in detail the transactions. The money was parked by Aoke Club, which is one of the many companies floated by the Chinese company. Razorpay has shut down the company’s account.

Tags: online fraud, online gaming, hawala transactions