Vivo Accused of Money Laundering

More than 40 offices of Vivo in India were raided by Indian law enforcement. It was noted that the reason for the raid was suspicion of money laundering.

China-based technology giant, which continues its rapid rise all over the world in vivowas shaken by a great event today. The company’s more than 40 offices in India Issued by anti-money laundering forces. The raid, which came in days of escalating tensions between India and China, was driven by money laundering charges against Vivo.

Vivo has been under surveillance in India for a while. Forces of India’s Enforcement Directorate, Vivo’s whether he or she has made irregularities in property and financial reporting. had been looking for months. The institution seized $ 725 million from another Chinese giant Xiaomi in April.

Here is the statement from Vivo:

Vivo made a statement after the pressure was reflected in the media. Speaking to TechCrunch, Vivo India officials said the company is working with authorities to provide all necessary information. have cooperated stated. Moreover “As a responsible company, we are committed to full compliance with the laws in India.” he stated.

While Chinese technology companies continue to dominate the smartphone market in India, India has signed some controversial restrictions on China. Due to ‘security concerns’ in the country TikTok and PUBG Mobile apps were banned. This decision came as a result of the tension on the border of the two countries.

On the other hand, the Cellular and Electronics Association of India, a lobby representing many tech giants such as Apple, Google and Amazon, called on the Indian government to intervene in the Enforcement Directorate in May. not understanding how royalty payments work in the tech industry had accused.


An Investigation Has Been Opened Against Obilet by the Competition Authority: Faced with Serious Fines

Source :

source site-33