The Enforcement Directorate (ED) and the Criminal Investigation Departments (CID) of various state police departments have begun investigating at least two dozen fake and predatory digital lending apps, many of whom are backed by Chinese actors, the Economic Times reported. The federal investigative agency and state police departments are also investigating money laundering charges against these apps and have issued notices to payment gateway providers, the report said. Cyber-crime police officials in Hyderabad told MediaNama that several state police departments that had begun investigations into these fake lending apps, beginning in December, are now coordinating with each other. They said that while they have frozen bank accounts with over ₹100 crore, the ED had reached out to them last week to provide information based on their investigations. So far, over 30 arrests have been made in Chennai, Mumbai, Bengaluru, Gurugram…
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