Key Points
- The Enforcement Directorate (ED) raided Amazon and Flipkart sellers across India.
- The investigation is looking into possible money laundering through these e-commerce platforms.
- Raids were conducted in cities like Delhi, Mumbai, Hyderabad, and Bengaluru.
- The ED is investigating financial irregularities tied to third-party sellers.
- The investigation is part of efforts to ensure compliance with the Prevention of Money Laundering Act (PMLA).
- This action is part of the government’s push for more transparency in the growing e-commerce sector.
- Amazon and Flipkart have not yet commented on the raids.
Looma News
The Enforcement Directorate (ED) launched a nationwide operation on Thursday, raiding locations linked to sellers on major e-commerce platforms, including Amazon and Flipkart. The raids are part of an ongoing probe into suspected money laundering. Sources told CNBC-TV18 that the operation is aimed at uncovering financial irregularities among third-party vendors who might be misusing these platforms to move illegal money.
The investigation is focused on sellers operating on Amazon and Flipkart, with raids taking place in cities such as Delhi, Mumbai, Hyderabad, and Bengaluru. The ED is looking into whether these vendors are using the platforms to hide illegal financial activities, violating the Prevention of Money Laundering Act (PMLA). This probe is part of the government’s larger effort to ensure transparency and accountability in India’s growing e-commerce industry, which is facing increased regulatory attention.
Although Amazon and Flipkart have not yet responded to the raids, this investigation is a key part of the government’s push to improve financial oversight in the e-commerce sector. This follows a previous investigation by the Competition Commission of India (CCI) in September, which found that Amazon and Flipkart had violated competition laws by giving certain sellers an unfair advantage on their platforms.
