ED searches Coda India offices as part of an investigation into the Garena Free Fire game

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The Enforcement Directorate (ED) announced that it had conducted searches at three locations associated with gaming top-up platform Coda Payments India in connection with a money laundering investigation.

As part of the crackdown, the agency has frozen INR 68.53 Cr in fixed deposits, wallets hosted by multiple payment gateways, and bank accounts held by the Singapore-based firm. The searches were conducted as part of an ongoing investigation into Coda Payments and the ‘Garena Free Fire’ mobile game under the Prevention of Money Laundering Act (PMLA), 2002, and there were multiple FIRs filed against the two companies. The enforcement agency stated in a statement that further investigation into the matter is currently underway.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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ED searches Coda India offices as part of an investigation into the Garena Free Fire game

The Enforcement Directorate (ED) announced that it had conducted searches at three locations associated with gaming top-up platform Coda Payments India in connection with a money laundering investigation.

As part of the crackdown, the agency has frozen INR 68.53 Cr in fixed deposits, wallets hosted by multiple payment gateways, and bank accounts held by the Singapore-based firm. The searches were conducted as part of an ongoing investigation into Coda Payments and the ‘Garena Free Fire’ mobile game under the Prevention of Money Laundering Act (PMLA), 2002, and there were multiple FIRs filed against the two companies. The enforcement agency stated in a statement that further investigation into the matter is currently underway.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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