CBI Uncovers Massive ₹117 Crore Cyber Fraud; Raids 10 Locations in Delhi and Surrounding Areas

(Judicial Quest News Network)

The Central Bureau of Investigation (CBI) today carried out searches at 10 locations across Delhi and nearby areas as part of an ongoing investigation into a massive cyber fraud involving financial scams worth ₹117 crore. This action is part of a transnational operation targeting a complex network of cybercriminals who have defrauded individuals across India.

The case, registered under Sections 403, 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, stemmed from a written complaint from the Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs. The complaint revealed that organized cybercriminals, including suspected foreign actors, were engaged in widespread financial fraud across the country.

Initial findings indicate that fraudsters, operating from overseas, have been using digital platforms like websites, WhatsApp, and Telegram to deceive victims with part-time job scams, task-based frauds, and promises of high investment returns. The victims’ funds were quickly routed through a network of “mule accounts,” obscuring their origins before being transferred abroad, primarily for ATM withdrawals in Dubai or used for wallet top-ups via international payment platforms like “Pyypl.”

An analysis of 3,903 complaints received between January and October 2023 on the National Cybercrime Reporting Portal (NCRP) has revealed that the fraudsters siphoned off ₹117 crore. Investigations identified 3,295 Indian bank accounts involved in the fraudulent transactions, with funds also being used to purchase cryptocurrencies.

During today’s raids, the CBI seized incriminating evidence, including electronic devices and financial records, from 10 individuals suspected of being involved in the fraud. The investigation is ongoing, with authorities working to trace the complete flow of illicit funds and identify other members of the syndicate.

The CBI has advised citizens to remain vigilant and cautious when engaging with offers on digital platforms, especially those promising quick profits or high returns. Any suspicious activities should be promptly reported to law enforcement agencies.

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