Indian authorities freeze $8.1M in WazirX funds as part of AML investigation

Indian authorities freeze $8.1M in WazirX funds as part of AML investigation

Https://cb.run/BSnP Indian authorities freeze $8.1M in WazirX funds as part of AML investigationThe Directorate of Enforcement of India alleged that WazirX "actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route." 574 Total views 33 Total shares India’s Directorate of Enforcement, or ED, has announced it froze roughly $8.1 million in funds and conducted a search connected to cryptocurrency exchange WazirX as part of an investigation into instant personal loan fraud.

In a Friday announcement, the Directorate of Enforcement alleged WazirX facilitated transactions by unnamed fintech firms “to purchase crypto assets and then launder them abroad” as part of a scheme involving Chinese-backed companies circumventing...