ED raids at 25 locations for alleged forex violations by gaming apps

The Enforcement Directorate (ED) on Wednesday conducted fresh searches at 25 locations for alleged forex violations by gaming apps.

“Remittance of Rs 4000 crore send in the guise of payments for import of good and services,” stated ED.

The searches were carried out under the provisions of FEMA, 1999 in Delhi (11), Gujarat (7), Maharashtra (4), Madhya Pradesh (2) and Andhra Pradesh (1) in relation to investigation being done against foreign registered.

Online Gaming companies/websites operating in India. These online gaming companies/websites are registered in small island countries like Curacao, Malta and Cyprus.