The Enforcement Directorate (ED) has launched a probe into forex trading platform OctaFX (now operating as Octa), conducting searches at seven locations across four cities—Mumbai, Delhi, Kolkata, and Bengaluru. The searches were carried out under the provisions of the Foreign Exchange Management Act (FEMA), focusing on alleged violations linked to illegal forex trading and fund transfers. According to officials, OctaFX was reportedly operating without proper regulatory approval from the Reserve Bank of India (RBI), and had been misleading investors by promising high returns. The ED suspects the platform facilitated unauthorized trading and used complex networks to transfer funds abroad, bypassing Indian financial laws.