Saturday, 11 April, 2026
Money laundering probe blocks 119 Vivo accounts in India
By Basit Ansari
<p>The Enforcement Directorate stated it has banned 119 bank accounts connected to Vivo's India operations that were storing $58.76M. This comes as a part of a probe into alleged money laundering by Vivo. As per ED, 48 locations of Vivo and its 23 affiliated companies were seized. The action was taken on suspicion that sale revenues from Vivo India had been moved outside of the country in order to claim losses and evade taxes.</p>
Read full story at BusinessWorld
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