ED probes Chinese-backed fintech firms & NBFCs for laundering assets worth INR 940 Cr
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ED, has mounted a crackdown on Chinese-backed fintech and NBFCs. The probe agency has found these companies have inked partnerships with ‘Chinese and Hong Kong persons’ to enter into the business of providing illegal ‘’instant personal loans’’ to the gullible public of the country. ED has attached INR 86.65 Cr worth of funds lying in a total of 155 bank and payment gateway accounts