The Enforcement Directorate has filed a money laundering case to look into the role of more than two dozen celebrities, including actors like Vijay Deverakonda, Rana Daggubati and Prakash Raj, apart from some social media influencers and YouTubers in Telangana as part of a money laundering probe against certain online betting platforms, official sources said on Thursday.
The Enforcement Directorate has filed a money laundering case to investigate the role of celebrities, including actors Vijay Deverakonda and Rana Daggubati, in promoting online betting platforms.
The Raj Bhavan has returned a bill banning online rummy to the Tamil Nadu assembly for its reconsideration, official sources said in Chennai on Wednesday.
The industry came under scrutiny after the proliferation of games like cards, casinos, and fantasy sports among young people led to addiction and financial losses, with some reported cases of suicide.
'There is responsibility to make great games that are played by audiences, that fill the gap from an entertainment perspective.'
Financial Intelligence Unit-India (FIU-IND) has imposed a Rs 5.49 crore penalty on Paytm Payments Bank for violating anti-money laundering rules, the Finance Ministry said on Friday. FIU-IND initiated a review of Paytm Payments Bank on receipt of specific information from law enforcement agencies in respect of few entities and their network of businesses engaged in a number of illegal acts, including organising and facilitating online gambling.
Dream11, Baazi Games, Zupee and WinZO among others are invited for the discussion with the anti-money laundering watchdog.
Despite the overcast conditions seemingly favouring the bowlers, the decision proved to be a gamble that didn't pay off immediately.
A trends study conducted by India's Financial Intelligence Unit (FIU) has expressed suspicion that cryptocurrency is being used across the country in serious criminal acts like terrorist financing, fuelling secessionist activities, cybercrime, narcotics trafficking, illegal betting and gambling. The report, which was based on suspicious transaction reports and operational analysis, shared these trends and credible intelligence with law enforcement agencies.
More than 4,000 people have been arrested worldwide and more than $13 million seized across Asia in operations targeting illegal gambling during the Euro 2016 football tournament, Interpol said on Monday.
Here's a look at the biggest disappointments of IPL 2025 -- the players who've cost crores but delivered crumbs.
Illegal gambling on the cup is prevalent in countries like Thailand and Malaysia, where football is hugely popular, but which don't have legal betting alternatives, gambling industry experts say.
The Indian Embassy in Thailand, in coordination with its counterpart in Yangon, Myanmar, has repatriated 549 Indians after rescuing them from scam centers operating near the Myanmar-Thailand border. The nationals were lured with fake job offers and forced to work in scam centers. The Indian Embassy has advised citizens to verify credentials of foreign employers and check the antecedents of recruiting agents before accepting job offers.
The ministry said the advisory has been issued in larger public interest and comes in the light of instances of a number of advertisements of online betting websites/platforms appearing in print, electronic, social and online media.
The Union Cabinet on Wednesday approved changes to GST laws to levy a 28 per cent tax on the full face value of bets in online gaming, casinos and horse race clubs, sources said. The amendments to the Central GST (CGST) and Integrated GST (IGST) acts, which were approved by the GST Council last week, are likely to be introduced in the ongoing monsoon session of Parliament, which will end on August 11. The GST Council in its 51st meeting on August 2 recommended amendments to the Schedule III of the CGST Act, 2017, to provide clarity on the taxation of supplies in casinos, horse racing and online gaming.
Gaming platforms will also be required to display a warning after a certain time of usage to reduce the risk of addiction.
The panel, headed by the Union finance minister and comprising of representatives of all states and UTs, decided on tax rate based on recommendation of a group of ministers that looked at taxing casinos, horse racing and online gaming.
Online gaming companies will not be allowed to engage in betting on the outcome of games under the principle laid in draft rules, Minister of State for Electronics and IT Rajeev Chandrasekhar said on Monday. The minister said that as of now, all permissible online gaming will need to be registered with a self-regulatory organisation that will be accountable to the online gaming rules.
Online skill-based gaming industry has made a case for retaining the service under 18 per cent GST slab instead of putting it into the highest 28 per cent tax rate category, saying the move will badly hit the $2.2-billion sector. The increase in taxation would not only have catastrophic impact on the industry but also encourage offshore operators who would circumvent Indian tax jurisdiction by hosting games in some other country, Games24x7 Co-CEO Trivikraman Thampy said. "It would be a triple whammy -- the industry loses out, the government loses out on tax revenue and players loses out as they would be exposed to unscrupulous operators," he said.
From stunning animal portraits to captivating glimpses of behaviour in their natural habitat, the World Nature Photography Awards contest showcases the intricate relationship between animals, plants, fungi, and humans.
More than 6,000 URLs, accounts or websites were blocked in 2021, Parliament was informed on Wednesday.
'More investors now view the stock market as a valuable opportunity, though many still seek quick gains, leading to a rise in futures and options trading.'
Share prices of Nestle India, Asian Paints, Bandhan Bank, Tata Technologies, AU Small Finance Bank and Avenue Supermarts, all a part of the BSE 500 index, have hit their respective 52-week lows on the BSE in Thursday's intra-day trade after a sharp correction in the equity markets.
Gambling is a multi-billion dollar industry spread across the world.
rediffGURU Patrick Dsouza, founder of Patrick100 offers advice on how to optimise your preparation for CAT 2025.
Two Indian founders of the world's largest online casino 'PartyGaming' have lost a fortune estimated at over $1 billion in a matter of days, after the company's shares plunged in response to a US government crackdown on Internet gambling.
The freedom of press can not be used to violate a person's 'inherent' right to reputation and investigative journalism does not enjoy any special protection, the Bombay high court has said while asking a journalist to remove online articles and videos targeting a businessman.
The present legislative framework on betting and gambling in India is sketchy, at best.
Amid the debate over the release of Bilkis Bano case convicts, the Madhya Pradesh government's proposed new policy provides for a life sentence till death for those held guilty for offences like gangrape and terrorist acts.
'The governor was a senior IPS officer who should know the Constitution.'
'If a gaming regulator is able to save even a single player's life or is able to just enforce the existing laws of the land, it works,' says cyber policy expert Prashant Mali.
People in full-time jobs should especially avoid intraday trading as it results in loss of focus and affects performance.
A huge controversy erupted after the Pakistan Super League (PSL) franchises flouted strict Islamic laws by promoting surrogate advertisements of off-shore online betting platforms.
After a nationwide crackdown on telephone sex lines and online gambling sites, China has now banned fortune-telling advertisements.
Online lotteries mushroomed in India in the mid-90s
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
Even as the gaming industry battles multiple regulations in different Indian states, it has received more than double the amount of investment this year compared to 2020. Industry watchers attribute this to the growing popularity of gaming, spurred by the pandemic, and the innovative business models gaming firms have built. According to data from industry tracker Venture Intelligence, investment in India's gaming sector in 2021 has more than doubled to $794 million, as against a total investment of $339 million last year. In 2019, this number was $176 million. Marquee investors such as Tiger Global (Dream11), Sequoia Capital India (Mobile Premier League), WinZO (Griffin Capital Partners), Tencent (Dream11) and Matrix Partners (Zupee) have pumped money into the sector.
'This year's detection of frauds and probable recovery will be mainly driven by several compliance measures put in place, and amendments made to the GST regime to plug revenue leakages particularly in new-edge sectors.'
England head coach Brendon McCullum's appearance in online betting advertisements has landed him in a fix with ECB probing if it is in breach of the governing body's anti-corruption rules.
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