Govt Sounds Alarm on Fraudulent Payment Platforms Linked to Money Laundering

The Indian Cybercrime Coordination Centre (I4C) under the Ministry of Home Affairs (MHA) has issued a strong warning about illegal payment gateways set up by transnational organized cybercriminals.

Among the gateways identified in recent operations are PeacePay, RTX Pay, PoccoPay, and RPPay. These platforms are allegedly operated by foreign nationals and are part of a larger scheme offering money laundering services.

Nationwide raids conducted by the Gujarat and Andhra Pradesh Police uncovered a network of illegal digital payment gateways connected to various cybercrimes, as stated in a press release from the Ministry of Home Affairs.

According to the Ministry, these operations utilized rented bank accounts from shell companies and individuals, primarily sourced through social media platforms like Telegram and Facebook.

Once operational, these gateways allowed criminal syndicates to process deposits for fraudulent activities, including fake investment schemes, offshore betting, and counterfeit stock trading platforms.

The I4C has advised citizens against selling or renting their bank accounts or any company registration certificates, as involvement with illicit funds could result in serious legal consequences.