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<ul class="news-points"> 
 <li>India’s Enforcement Directorate is currently investigating crypto-related fraud.</li> 
 <li>Companies’ money laundering technique involves investing in Dubai’s real estate market using crypto.</li> 
 <li>The illegal money is sent back to India through remittances.</li> 
</ul> 
A major crypto-related fraud is currently being investigated by the Enforcement Directorate of India. As <a href="https://www.news18.com/india/crypto-scam-fraudsters-laundering-money-by-investing-cryptocurrency-in-dubai-real-estate-exclusive-8556631.html" target="_blank" rel="noopener noreferrer nofollow">reported </a>in local news, the ED has found five companies that are involved in money laundering between Dubai and India. 
The aforementioned companies have used crypto to invest in Dubai’s real estate market; the investment is then transferred to the Indian market via remittances. 
According to ED sources, one of the companies involved is Zanmi Labs LTD, also known as WazirX. In India, the company operates a trading platform that allows people to buy, sell, and trade crypto. 
Those companies used to launder money by investing in properties in India in exchange for gold, but now they are turning to crypto as a means to hide their illegal funds and using crypto to invest in properties in Dubai. 
ED has shared that it has seized more than 14,450 million rupees (India’s currency) in crypto-related fraud. A seni… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/crypto-linked-money-laundering-schemes-invest-in-dubais-real-estate/">Crypto-Linked Money Laundering Schemes Invest in Dubai’s Real Estate</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

Crypto-Linked Money Laundering Schemes Invest in Dubai’s Real Estate

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