Hot on Octafx money trail, Enforcement Directorate taps Spain for support

The Directorate of Enforcement (ED) has sought Spain's assistance to investigate Octafx, a forex trading app accused of money laundering using Sebi-regulated funds. Owned by Russian Pavel Prozorov, Octafx operates globally with servers in Barcelona and other links in Cyprus, Singapore, and more. The app reportedly made Rs 800 crore in profits from India within nine months. ED suspects illegal fund transfers and unethical practices by the platform.