Illegal Betting Platform Under Scanner in Major Money Laundering Probe

The Enforcement Directorate has intensified its investigation into alleged illegal online betting activities linked to the Cyprus-based platform Parimatch by conducting coordinated searches across several states in India.

According to the agency, the Mumbai zonal office carried out raids at 17 locations across Maharashtra, Rajasthan, Delhi, Gujarat, Daman, and Uttar Pradesh on May 26 under the provisions of the Prevention of Money Laundering Act, 2002.

During the searches, the ED seized movable assets worth approximately Rs 1.56 crore, including cash amounting to nearly Rs 1.2 crore. The agency also froze funds worth Rs 3.8 crore held in multiple bank accounts linked to the investigation.

Officials stated that the action forms part of an ongoing probe into alleged money laundering and unlawful betting operations conducted through online platforms. Investigators are examining financial transactions, digital payment trails, and possible violations of foreign exchange and anti-money laundering regulations.

The agency suspects that proceeds generated through illegal online betting were routed through various accounts and entities to conceal the source of funds. Electronic devices, financial documents, and transaction records were also reportedly recovered during the searches.

The case highlights growing concerns among enforcement agencies regarding unregulated online betting networks operating through offshore platforms and targeting Indian users through digital channels.

Further investigation is underway to identify additional individuals, financial beneficiaries, and associated entities connected to the alleged illegal operations.