Chinese Loan Apps: ED Freezes Over Rs 46-Cr Worth Funds Kept In Payment Gateway

The Enforcement Directorate on Friday said it has frozen Rs 46.67 crore worth funds kept in payment gateways Easebuzz, Razorpay, Cashfree and Paytm after it carried out raids this week against Chinese-controlled loan apps and investment tokens. The funds have been frozen under the anti-money laundering law. The searches were launched on September 14 at multiple, MSME.