Parimatch faces a new wave of raids in India as investigators probe $317 million in betting flows

India’s Economic Offences Wing carried out raids at 12 addresses across 4 states in a money-laundering case involving Parimatch, with the search covering payment companies, chartered accountants, and corporate secretaries. For high-risk PSPs, the useful part is not the headline arrest-theory drama; it is the mechanics investigators say were used to move betting proceeds.

1. The Economic Offences Wing said the raids were tied to alleged money laundering by Parimatch, which it described as an illegal operator. The actions spanned 12 addresses in 4 states, and investigators specifically searched payment companies, chartered accountants, and corporate secretaries.
2. According to the investigators’ version, payment companies used accountants and secretaries to convert online betting revenue into cash and move it abroad as remittances and fake foreign direct investment. That is the part PSP and banking teams will recognize immediately: layer the flows, change the paperwork, and the transaction stops looking like gambling only on paper.
3. The investigation also found deposits from some players being used to pay winnings to other players directly, without corporate accounts in the middle. In practical terms, that points to commingled player funds and payout routing outside the usual merchant-account structure.
4. Parimatch’s turnover in India exceeded $317 million in a year, according to the report. For banks and processors, that scale matters because once a betting book is large enough, the payment stack is no longer a back-office detail; it becomes the operating system of the business.
5. The case also involved deposits and payouts routed through current accounts of IT, fintech, and software companies that were carrying on real commercial activity at the same time. Gambling transactions, investigators said, were hidden inside those companies as vendor payments, ordinary business transfers, or payment gateway services.

For high-risk payment teams, the key takeaway is simple: investigators are not just looking at the operator. They are looking at the accounting firms, secretaries, and apparently ordinary operating companies that sit in the payment path and give gambling flow a different label.