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ED Uncovers ₹303 Crore Laundered via UAE Platform PYYPL

Summary by MediaNama
The Directorate of Enforcement (ED) has filed a Supplementary Prosecution Complaint (SPC) in a 2024 cyber fraud case linked to PYYPL (pronounced as “people”), a UAE-based payment platform, the ED said in a press release dated April 3, 2025. According to the government agency, cybercriminals used the platform and cash in Dubai to launder approximately Rs 303 crore to crypto wallets. Modus Operandi: The ED has conducted this investigation in colla…
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ED Uncovers ₹303 Crore Laundered via UAE Platform PYYPL

The Directorate of Enforcement (ED) has filed a Supplementary Prosecution Complaint (SPC) in a 2024 cyber fraud case linked to PYYPL (pronounced as “people”), a UAE-based payment platform, the ED said in a press release dated April 3, 2025. According to the government agency, cybercriminals used the platform and cash in Dubai to launder approximately Rs 303 crore to crypto wallets. Modus Operandi: The ED has conducted this investigation in colla…

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indiaweekly.bizindiaweekly.biz

Cyber Fraud: UAE Based Payment Platform PYYPL Under ED Lens

THE ENFORCEMENT DIRECTORATE (ED) on Thursday (3) said it has filed a fresh chargesheet in a case of cyber fraud through which a UAE-based payment platform and its operators duped people in India of funds worth ₹3 billion (£26.72 million). The supplementary prosecution complaint (chargesheet) was filed against five accused in the case against PYYPL before a special Prevention of Money Laundering Act (PMLA) court in Chennai on March 28. The court …

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indiaweekly.biz broke the news in on Thursday, April 3, 2025.
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