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Enforcement Directorate (ED) raids on Bengaluru-based online payment gateways Paytm, Razorpay, and Cashfree continued for the second consecutive day, leading to the seizure of Rs 17 crores in funds in an ongoing probe against “illegal” Chinese loan apps. The searches were launched Friday at six premises in Karnataka’s capital city, and the search operations were still in progress. The federal agency conducted the raids under the provisions of the Prevention of Money Laundering Act (PMLA), 2002.
