<p>Hyderabad: In a significant development linked with online gaming investigation, GST intelligence, wing of Hyderabad unearthed an organized syndicate worth Rs 13,000 crore involved in operating illegal online gaming websites with assistance of associated fintech companies including payment aggregator, payment gateway and third-party technology service providers, and arrested one person.</p><p> The GST intelligence sleuths arrested Pankaj Kumar, founder and director of Adsum Advisory Service Pvt Ltd. This firm provides services for fraud detection and customer verification/ digital KYC verification.</p> .Illegal betting: ED attaches Rs 177 crore worth of assets of Congress MLA KC Veerendra .<p>Evidence gathered during investigation pointed to identification of an organized syndicate worth Rs 13,000 crore involved in operating illegal online gaming websites with assistance of associated fintech companies including payment aggregator, payment gateway and third-party technology service providers, wherein Pankaj Kumar is one of the masterminds responsible for fraudulent KYC verification of merchants and shell entities on behalf of RBI Regulated Entities like Payment Gateways and Banking as Payment Aggregator (BAPA), said GST intelligence office in Hyderabad on Thursday.</p> .<p>Being director of a company responsible for KYC verification process, Pankaj Kumar failed to develop risk profiling of customers based on ownership and control structure and helped in onboarding of shell entities for UPI integration required for flow of money from online gaming. He is one of the beneficiaries who received illegitimate proceeds of crime generated by an online gaming syndicate.</p><p>As per one estimate in the year 2025, gross valuation of online gaming in India is about two Lakh Crores. DGGI, Hyderabad has launched a massive crackdown on Online Gaming syndicates including action against associated Fintech companies, freezing bank accounts to the tune of Rs 100 crores and arresting masterminds.</p>
<p>Hyderabad: In a significant development linked with online gaming investigation, GST intelligence, wing of Hyderabad unearthed an organized syndicate worth Rs 13,000 crore involved in operating illegal online gaming websites with assistance of associated fintech companies including payment aggregator, payment gateway and third-party technology service providers, and arrested one person.</p><p> The GST intelligence sleuths arrested Pankaj Kumar, founder and director of Adsum Advisory Service Pvt Ltd. This firm provides services for fraud detection and customer verification/ digital KYC verification.</p> .Illegal betting: ED attaches Rs 177 crore worth of assets of Congress MLA KC Veerendra .<p>Evidence gathered during investigation pointed to identification of an organized syndicate worth Rs 13,000 crore involved in operating illegal online gaming websites with assistance of associated fintech companies including payment aggregator, payment gateway and third-party technology service providers, wherein Pankaj Kumar is one of the masterminds responsible for fraudulent KYC verification of merchants and shell entities on behalf of RBI Regulated Entities like Payment Gateways and Banking as Payment Aggregator (BAPA), said GST intelligence office in Hyderabad on Thursday.</p> .<p>Being director of a company responsible for KYC verification process, Pankaj Kumar failed to develop risk profiling of customers based on ownership and control structure and helped in onboarding of shell entities for UPI integration required for flow of money from online gaming. He is one of the beneficiaries who received illegitimate proceeds of crime generated by an online gaming syndicate.</p><p>As per one estimate in the year 2025, gross valuation of online gaming in India is about two Lakh Crores. DGGI, Hyderabad has launched a massive crackdown on Online Gaming syndicates including action against associated Fintech companies, freezing bank accounts to the tune of Rs 100 crores and arresting masterminds.</p>