ED raids 25 locations against foreign-registered online gaming portals

The Enforcement Directorate (ED) on Wednesday said it detected illegal foreign remittances of about Rs 4,000 crore after it carried out multi-state raids against foreign-registered online gaming websites and companies operating in the country in alleged violation of the foreign exchange law.

In a statement, it said that Rs 19.55 lakh and more than $ 22,600 in cash were seized apart from freezing 55 bank accounts during this operation carried out under the provisions of the Foreign Exchange Management Act (FEMA).

The searches were carried out on May 22-23 at 25 premises in Delhi, Gujarat, Maharashtra, Madhya Pradesh and Andhra Pradesh.