The notice relates to the acquisition of two companies, Little Internet Private Limited and Nearbuy India Private Limited, covering the period from 2015 to 2019.
Paytm has stated that the alleged violations occurred before these companies became its subsidiaries. The company maintains that the notice has no impact on its services for consumers and merchants. No further details about the specific allegations have been disclosed.
The notice comes at a time of increased regulatory scrutiny of digital payment firms in India.
Paytm has previously faced challenges related to compliance and operations, making the latest development a significant issue for the company as it continues to navigate the country’s evolving financial regulations.
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The founder of cryptocurrency financial services firm Gotbit has been extradited from Portugal to the United States to face charges of market manipulation and fraud.
Aleksei Andriunin, a 26-year-old Russian national, appeared in a Boston court, where he pleaded not guilty to wire fraud and conspiracy charges. Prosecutors allege his company engaged in sham trading to artificially inflate the value of digital tokens.
Authorities claim that between 2018 and 2024, Gotbit manipulated cryptocurrency trading volumes through a practice known as ‘wash trading’. The FBI’s ‘Operation Token Mirrors‘ played a key role in the investigation, reportedly using its own digital token to detect fraudulent activities.
Gotbit allegedly facilitated wash trades worth millions and profited tens of millions of dollars by boosting the market appeal of cryptocurrencies such as Saitama and Robo Inu.
Andriunin was arrested in Portugal in October when US authorities first announced charges against him and others. His company and two employees in Russia also face legal action, though they have not yet appeared in court.
The case is part of a broader crackdown on fraud in the cryptocurrency sector.
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United States officials are reviewing whether the UK breached a bilateral agreement by reportedly pressuring Apple to create a ‘backdoor’ for government access to encrypted iCloud backups.
Apple recently withdrew an encrypted storage feature for UK users following reports that it had refused to comply with such demands, which could have affected users worldwide. The Washington Post reported that Apple rejected the UK government’s request.
The US director of national intelligence, Tulsi Gabbard, confirmed in a letter to lawmakers that a legal review is underway to determine if the UK violated the CLOUD Act.
Under the agreement, neither the US nor the United Kingdom can demand data access for citizens or residents of the other country. Initial legal assessments suggest the UK’s reported demands may have overstepped its authority under the agreement.
Apple has long defended its encryption policies, arguing that creating a backdoor for government access would weaken security and leave user data vulnerable to hackers. Cybersecurity experts warn that any such backdoor, once created, would inevitably be exploited.
The tech giant has clashed with regulators over encryption before, notably in 2016 when it resisted US government efforts to unlock a terrorism suspect’s iPhone.
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Chinese AI startup Zhipu AI has raised over 1 billion yuan ($137.22 million) in new funding, following a previous 3 billion yuan investment in December. The latest funding round comes amid growing competition in China’s AI sector, particularly with rival DeepSeek’s large language models, which claim to rival Western models at a lower cost.
Investors in the new round include the state-backed Hangzhou City Investment Group Industrial Fund and Shangcheng Capital. Zhipu AI plans to use the funds to enhance its GLM language model and expand its AI ecosystem, with a focus on businesses in Zhejiang province and the Yangtze River Delta region.
Founded in 2019, Zhipu AI has completed 16 funding rounds and is considered one of China’s leading AI startups. The company aims to release a range of new AI models, including foundation and multimodal models, as part of its open-source strategy. The funding comes as competitors like DeepSeek continue to disrupt the AI landscape with open-source models that challenge established platforms.
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Vodafone UK has teamed up with IBM to explore quantum-safe cryptography as part of a new Proof of Concept (PoC) test for its mobile and broadband services, particularly for users of its ‘Secure Net’ anti-malware service. While quantum computers are still in the early stages of development, they could eventually break current internet encryption methods. In anticipation of this, Vodafone and IBM are testing how to integrate new post-quantum cryptographic standards into Vodafone’s existing Secure Net service, which already protects millions of users from threats like phishing and malware.
IBM’s cryptography experts have co-developed two algorithms now recognised in the US National Institute of Standards and Technology’s first post-quantum cryptography standards. This collaboration, supported by Akamai Technologies, aims to make Vodafone’s services more resilient against future quantum computing risks. Vodafone’s Head of R&D, Luke Ibbetson, stressed the importance of future-proofing digital security to ensure customers can continue enjoying safe internet experiences.
Although the PoC is still in its feasibility phase, Vodafone hopes to implement quantum-safe cryptography across its networks and products soon, ensuring stronger protection for both business and consumer users.
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British startup Wayve has announced plans to open a new testing and development hub in Germany, deploying a fleet of test vehicles in the Stuttgart region. The self-driving technology firm aims to enhance features like lane change assistance at the new facility, which will focus on improving its “Embodied AI” system that learns from human behaviour.
Wayve, which operates in the UK and the US, is expanding into Germany as part of its strategy to enter the European market, particularly Germany, the continent’s largest automotive hub. The company received a boost earlier this year, with Uber investing in August and SoftBank leading a $1 billion funding round in May, supported by Nvidia.
Despite the significant investments in autonomous vehicle technology, self-driving systems still face challenges in predicting and assessing risks as accurately as human drivers. Wayve’s technology is already integrated into six vehicle platforms, including electric models like the Jaguar I-PACE and Ford Mustang Mach-E, as part of advanced driver assistance systems (ADAS).
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Singapore‘s government is investigating a fraud case involving servers supplied by US companies, potentially containing Nvidia’s advanced chips. Three men, including a Chinese national, were charged last week in connection with the alleged illegal transfer of these AI chips from Singapore to Chinese firm DeepSeek. Singapore’s Home Affairs and Law Minister K Shanmugam confirmed that the servers were provided by Dell Technologies and Super Micro Computer to local firms before being sent to Malaysia.
Authorities are still unsure whether Malaysia was the final destination, but they are working with US officials to determine if the servers contained restricted US export-controlled items. The US is already investigating whether DeepSeek has used banned Nvidia chips, which could lead to violations of export laws. The case forms part of a broader probe into suspected smuggling activities linked to AI chips being moved from countries like Singapore to China.
Singapore, a key market for Nvidia, is also examining allegations that DeepSeek may have acquired thousands of advanced Nvidia chips illegally. However, DeepSeek has denied these claims, stating that it only used legally purchased chips, including the Nvidia H800 model. The investigation is ongoing, with Singapore continuing to cooperate with US authorities.
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Chinese smartphone maker Honor plans to invest $10 billion over the next five years to develop AI for its devices as it prepares for a public listing. CEO James Li revealed at the Mobile World Congress in Barcelona that the company aims to expand beyond smartphones into AI-powered PCs, tablets, and wearables.
Honor’s push into AI comes after completing a shareholder restructuring in December, bringing it closer to an initial public offering, though no timeline has been set. The announcement also aligns with a surge in AI investment in China, driven by the popularity of DeepSeek’s affordable language models.
While Honor’s market share in China slipped from second to fourth place last year, it has gained significant support from the Shenzhen government, including R&D funding and tax breaks. The company is also focusing on expanding internationally as it strengthens its AI capabilities.
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Britain’s privacy regulator, the Information Commissioner’s Office (ICO), has launched an investigation into the child privacy practices of TikTok, Reddit, and Imgur. The ICO is scrutinising how these platforms manage personal data and age verification for users, particularly teenagers, to ensure they comply with UK data protection laws.
The investigation focuses on TikTok’s use of data from 13-17-year-olds to recommend content via its algorithm. The ICO is also examining how Reddit and Imgur assess and protect the privacy of child users. If evidence of legal breaches is found, the ICO will take action, as it did in 2023 when TikTok was fined £12.7 million for mishandling data from children under 13.
Both Reddit and Imgur have expressed a commitment to adhering to UK regulations. Reddit, for example, stated that it plans to roll out updates to meet new age-assurance requirements. Meanwhile, TikTok and Imgur have not yet responded to requests for comment.
The investigation comes amid stricter UK legislation aimed at safeguarding children online, including measures requiring social media platforms to limit harmful content and enforce age checks to prevent underage access to inappropriate material.
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Senator Elizabeth Warren has called for tougher restrictions on Chinese technology, urging President Donald Trump’s nominee for a key trade role to reinforce AI chip controls.
In a letter to Jeffrey Kessler, the nominee for the Commerce Department’s Bureau of Industry and Security, Warren cited concerns over Chinese startup DeepSeek and its AI advancements. She argued for tighter enforcement of export restrictions and measures to curb chip smuggling.
Chinese firms like Huawei and SMIC, already on the US Entity List, continue to acquire American technology through front companies, Warren warned.
She pressed Kessler to address this issue and determine whether these companies violated US laws by producing advanced chips using American technology. Strengthened controls on ChangXin Memory Technology and high-powered inference chips, such as Nvidia’s H20, were also among her recommendations.
Kessler, who previously served as the Commerce Department’s top trade enforcement official, acknowledged China‘s progress in cutting-edge technology. His confirmation hearing before the Senate Banking Committee is set to examine how the US can maintain its technological edge while enforcing export restrictions effectively.
The debate comes amid ongoing tensions over AI and semiconductor technology between Washington and Beijing.
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