Vivo Money Laundering An Act Of Financial Terrorism

The ED submitted an affidavit calling Vivo money laundering an act of financial terrorism, citing an Orissa High Court ruling from 2020.

The Vivo India bank accounts are "clearly involved in money laundering," according to the Enforcement Directorate, and this "has been carried out as an attempt to destabilize the financial system of the country and to threaten the integrity and sovereignty of the nation."

The federal agency informed the Delhi High Court in an affidavit submitted late last week that 22 companies connected to the Chinese company's India unit are being looked into for "suspicious" transfers to China. The 22 companies, according to the agency, are owned by foreign nationals or foreign organizations with Hong Kong headquarters. The majority of the funds, on the other hand, appeared to have been transferred overseas to China, which is suspicious and is under investigation, according to the affidavit. Vivo has previously declared that it obeys all local regul...