Phone : +91 95 8290 7788 | Email : sales@itmonteur.net

Register & Request Quote | Submit Support Ticket

Home » Cyber Security News » Proceeds of crime of over Rs 1000 cr of cyber and crypto assets frauds seized

Proceeds of crime of over Rs 1000 cr of cyber and crypto assets frauds seized

Proceeds of crime of over Rs 1000 cr of cyber and crypto assets frauds seized

Enforcement Directorate
Enforcement Directorate

New Delhi: Proceeds of crime of more than Rs 1000 crore related to cyber and crypto assets frauds have been attached or seized under the provisions of Prevention of Money Laundering Act, 2002 (PMLA), the Government informed the Lok Sabha on Monday.

Besides, estimated GST evasion by such companies was nearly Rs 22,936 crore between April 2019 and November 2022, it added.

Ministry of Finance, in a written reply, said that the Enforcement Directorate is investigating several cases related to cyber and crypto assets frauds wherein online gaming etc. have been used for committing fraud and siphoning of the proceeds generated thereof.

“In these cases, as on December 6, 2022, proceeds of crime of more than Rs.1000 crore have been attached/seized/frozen under the provisions of Prevention of Money Laundering Act, 2002 (PMLA). Also, 10 Prosecution Complaints (PCs) including 02 supplementary PCs have been filed before the Special Court, PMLA,” it said.

Furthermore, it said that in so far as evasion of Goods and Services Tax (GST) is concerned, CBIC formations have initiated investigations against some gaming companies (including Online gaming companies) located in India as well as abroad. The estimated evasion of GST by these companies works out to Rs 22,936 crore, relating to period April 2019 to November 2022.

Minister of state, Ministry of Finance, Pankaj Chaudhary said, “Assets amounting to Rs 289.28 crore have been seized under section 37A of Foreign Exchange Management Act, 1999.”

On a question whether the Government proposes to ban such gaming companies, the reply said, “Necessary action as per provisions of law is taken against such companies, as mentioned above.”

On a question whether online gaming companies are not paying income tax and the Income Tax Department has issued notices to many gaming companies, the reply said, “The information regarding online Gaming companies, which are not paying income tax and where the Income tax Department has issued notices to such gaming companies, is not available, since no specific identification code for online gaming entities is available in Income Tax Return. The disclosure of information about specific taxpayers is prohibited except as provided under section 138 of the Income Tax Act, 1961.”

 

Information Security - InfoSec - Cyber Security - Firewall Support Providers Company in India

Juniper Firewall
Cisco Firewall
Checkpoint Firewall
paloalto Firewall
Fortinet Firewall
Forcepoint Firewall

 

Sophos Firewall
WatchGuard Firewall
Barracuda Firewall
Sonicwall Firewall
GajShield Firewall
Seqrite Firewall

What is Firewall? A Firewall is a network security device that monitors and filters incoming and outgoing network traffic based on an organization's previously established security policies. At its most basic, a firewall is essentially the barrier that sits between a private internal network and the public Internet.

 

Secure your network at the gateway against threats such as intrusions, Viruses, Spyware, Worms, Trojans, Adware, Keyloggers, Malicious Mobile Code (MMC), and other dangerous applications for total protection in a convenient, affordable subscription-based service. Modern threats like web-based malware attacks, targeted attacks, application-layer attacks, and more have had a significantly negative effect on the threat landscape. In fact, more than 80% of all new malware and intrusion attempts are exploiting weaknesses in applications, as opposed to weaknesses in networking components and services. Stateful firewalls with simple packet filtering capabilities were efficient blocking unwanted applications as most applications met the port-protocol expectations. Administrators could promptly prevent an unsafe application from being accessed by users by blocking the associated ports and protocols.

 

Firewall Firm is an IT Monteur Firewall Company provides Managed Firewall Support, Firewall providers , Firewall Security Service Provider, Network Security Services, Firewall Solutions India , New Delhi - India's capital territory , Mumbai - Bombay , Kolkata - Calcutta , Chennai - Madras , Bangaluru - Bangalore , Bhubaneswar, Ahmedabad, Hyderabad, Pune, Surat, Jaipur, Firewall Service Providers in India, Welcome to IT Monteur's Firewall Firm, India's No1 Managed Enterprise Network Security Firewall Support Provider Company in India, Firewall Firm Provider Complete range of Juniper Firewall Support , Cisco Firewall Support , Check Point Firewall Support , Palo Alto Firewall Support , FortiGate Firewall Support , Forcepoint Firewall Support , Sophos Firewall Support , WatchGuard Firewall Support , Baracuda Firewall Support , SonicWall Firewall Support , Gajshield Firewall Support , Seqrite Firewall Support , Firewall , Hardware Firewall , Software Firewall , Firewall India , Firewall , Network Firewall , Firewall Support , Firewall Monitoring , Firewall VPN , WAF Website Firewall , Firewall Security , Firewall India , Firewalls Support Provider in India , Firewall Support Services Provider Company in India

Sales Number : +91 95 8290 7788 | Support Number : +91 94 8585 7788
Sales Email : sales@itmonteur.net | Support Email : support@itmonteur.net

Register & Request Quote | Submit Support Ticket

Firewall Firm is a Managed Firewall Security Support Provider Company in India | Digital Marketing by SEO Company India | Powered by IT Monteur