GRI

ED, Mumbai has conducted search operations on 13/06/2025, under the PMLA, 2002 at 7 locations in Mumbai, Delhi, Chennai and Gurgaon in the case of Illegal Online Forex Trading through International Brokers namely OctaFx Trading App and website . During the searches, various incriminating documents and digital devices have been found and seized which revealed that OctaFX is routing investor funds through mule accounts by using services of unauthorised payment aggregator. It is also masking payment links to hide themselves from scrutiny. ED has attached/seized/frozen assets worth Rs.160.8 Crore so far including properties in Spain

News Anti-money laundering Sanctions & Fines
Date: 17th Jun, 2025 Source: Enforcement Directorate (ED) Country: India Original Source

Brief

"On 17/06/2025, the Enforcement Directorate (ED) issued an update regarding ED, Mumbai has conducted search operations on 13/06/2025, under the PMLA, 2002 at 7 locations in Mumbai, Delhi, Chennai and Gurgaon in the case of Illegal Online Forex Trading through International Brokers namely OctaFx Trading App and website. During the searches, various incriminating documents and digital devices have been found and seized which revealed that OctaFX is routing investor funds through mule accounts by using services of unauthorised payment aggregator. It is also masking payment links to hide themselves from scrutiny. ED has attached/seized/frozen assets worth Rs.160.8 Crore so far including properties in Spain."

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Enforcement Directorate (ED)

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