New Delhi: The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an ongoing investigation of an alleged transnational cyber-enabled fraud case involving large-scale financial scams, the Central probe agency said.
According to a CBI spokesperson, the agency registered the case under Sections 403, 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, based on a written complaint received from the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs. The complaint alleged that unknown organized cybercriminals and suspected foreign actors were engaged in systematic financial fraud across India.
The probe so far has revealed that fraudsters operating from overseas use digital platforms and websites 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 were quickly transferred through a network of "mule accounts," layered to obscure their origins, the spokesperson informed.
These funds were eventually withdrawn overseas via ATMs or used for wallet top-ups on fintech platforms such as "Pyypl," facilitated by international payment networks often disguised as POS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 These funds were withdrawn primarily in Dubai and other UAE locations, the CBI official said.
Investigations identified 3,295 Indian bank accounts involved in these fraudulent transactions. Funds routed through these accounts were also used to purchase cryptocurrencies. During the searches conducted on December 4, incriminating evidence, including electronic devices and financial records, was seized from the premises of 10 individuals suspected of involvement in the fraud, the CBI claimed.
The investigation is underway to identify additional members of the syndicate and trace the complete flow of illicit funds.
