​The Enforcement Directorate (ED) is intensifying its investigation into the FairPlay betting app, which is accused of illegally streaming IPL matches and laundering over ₹13,000 crore through a complex network of firms and payment gateways.​

Money Laundering Scheme: According to the ED’s chargesheet, four firms, including one listed on the stock exchange, facilitated the illegal transfer of approximately ₹13,000 crore abroad by disguising these transactions as import payments.

Role of Payment Gateway: Betty Finserve, a payment gateway, processed transactions worth ₹3,000 crore for FairPlay, earning a commission of ₹30 crore, which has since been seized by the ED.

Celebrity Endorsements: Several Indian celebrities promoted the FairPlay app, which allegedly used these endorsements to gain credibility and attract users.

Offshore Operations: The promoter of FairPlay reportedly shifted operations offshore to circumvent Indian regulations, further complicating the investigation.

Legal Actions: The ED has filed charges against 11 individuals, including key figures associated with the FairPlay group. ​

This case highlights the increasing scrutiny of payment gateways and their potential involvement in facilitating illegal financial activities.​

Sources