Cyber Fraud Case: The Central Bureau of Investigation (CBI) conducted searches at 10 locations in Delhi and surrounding areas today (December 4) in connection with an ongoing investigation of transnational cyber-enabled financial frauds involving Rs 117 crore, said officials.
According to the CBI, the searches were conducted in an ongoing investigation into a case registered under Sections 403, 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000 on a complaint from the Union Home Ministry’s Cyber Crime Coordination Centre (I4C).
It was alleged in the FIR that unknown organised cybercriminals and suspected foreign actors were engaged in systematic financial fraud across India.
What was revealed in investigation?
"The investigation so far has revealed that fraudsters operating from overseas use digital platforms such as websites, WhatsApp, and Telegram to target victims in India. They lure individuals through part-time job scams, task-based frauds, and promises of high returns on initial investments. Funds deposited by the victims are quickly transferred through a network of 'mule accounts' layered to obscure their origins," the CBI Spokesperson said in a statement.
"These funds are eventually withdrawn overseas via ATMs or used for wallet top-ups on fintech platforms such as 'Pyypl' facilitated by international payment networks often disguised as POS transactions. Analysis of 3,903 complaints registered on the National Cybercrime Reporting Portal (NCRP) between January 1, 2023, and October 17, 2023, revealed that the fraudsters siphoned off approximately Rs 117 crores. These funds were withdrawn primarily in Dubai and other UAE locations. Investigations identified 3,295 Indian bank accounts involved in these fraudulent transactions. Funds routed through these accounts were also used to purchase cryptocurrencies," it added.
Incriminating evidence seized in raids today
During the searches conducted today at two locations in Gurugram and eight in the national capital, "incriminating" evidence, including electronic devices and financial records, was seized from the premises of 10 individuals suspected of involvement in the fraud, he said.
The investigation is ongoing to identify additional members of the syndicate and trace the complete flow of illicit funds.
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