ED probes betting apps using AI firms to move Rs 2,000 crore abroad

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The Enforcement Directorate suspects that illegal betting syndicates moved over Rs 2,000 crore from India. These funds were disguised as legitimate investments in technology companies, specifically in artificial intelligence. Many companies involved have minimal business operations and disappear after receiving payments. The agency is investigating the role of various companies and secretaries in these transactions. Evidence has been traced linking over Rs 200 crore in remittances with a foreign entity.