side-banner

ED raids Vivo as part of money laundering probe

Shortpedia

Content Team
Image Credit: economic times

The Enforcement Directorate (ED) on Tuesday conducted raids against Chinese phone manufacturer Vivo and other associated firms in a money laundering case. The searches were carried out at 44 locations related to the firm across the country under sections of the Prevention of Money Laundering Act (PMLA). The development comes amid the Centre's increased scrutiny of businesses that originate in China.