New Delhi, October 20
The Central Bureau of Investigation today said it had unearthed under “Operation Chakra 2” an international online investment fraud worth hundreds of crores targeting Indian citizens, and a cyber-enabled impersonation fraud targeting Singaporean citizens.
In the case pertaining to Indian citizens, the CBI registered a case of sophisticated, organised cybercrime being perpetuated in the name of investment, loan and job opportunities. After carrying out a detailed analysis of the money trail, the CBI conducted raids at locations linked to the suspects. The fraudsters allegedly exploited various social media platforms and their advertisement portals to entice victims with promises of lucrative part-time jobs through multi-level marketing initiatives.
To evade detection, these criminals utilised a multi-layered approach involving UPI accounts, cryptocurrencies and international money transfers. The fraudsters were using the advertisement tool of a well-known search engine, and were sending bulk SMS to create a web of deception. Victims were lured to deposit funds for higher returns through UPI accounts. The ill-gotten money was laundered through a complex network of UPI accounts, ultimately converging into cryptocurrency or gold purchases using fabricated credentials.
The CBI identified 137 shell companies engaged in fraudulent activities. A significant number of these entities were registered with the Registrar of Companies in Bengaluru.
Some of these directors were also associated with a Bengaluru-based digital payment-enabling merchant. This merchant, central to the fraudulent operation, controlled around 16 distinct bank accounts, where Rs 357 crore was funnelled. Searches conducted in Bengaluru, Kochi and Gurgaon yielded substantial evidence, the CBI said. The association of the accused with a foreign national has also been detected. The role of two chartered accountants from Bengaluru was also detected. The second case pertains to Singapore citizens. Inputs in the matter were received from Singapore via Interpol relating to over 300 cyber-enabled frauds against Singapore citizens involving more than 100 Indian bank accounts spread across 10 states.
These criminals employed a variety of cyber techniques to target over 400 Singapore citizens. The CBI said the cyber fraud network targeting Singapore nationals utilised a variety of techniques to transfer funds from Singapore bank accounts to various accounts in India.
Some 150 bank accounts were analysed and leads on the money trail were identified. The premises of the accused in 35 locations, including Patna, Kolkata, Lucknow, Varanasi, Chandigarh, Jalandhar, Bhopal, Chennai, Kochi and Madurai, led to incriminating documents related to identity proofs, fraudulent banking transactions and other crucial evidence getting recovered.
#Central Bureau of Investigation CBI
#cyber crime
