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In Short

  • CBI seizes evidence, warns public against online scam offers
  • Fraudsters lure victims with job offers, quick returns, and rewards
  • Funds misused via international networks, withdrawn in UAE

The Central Bureau of Investigation (CBI) on Wednesday conducted raids at 10 locations in New Delhi and adjoining areas in connection with its ongoing investigation into transnational cyber-enabled financial frauds involving Rs 117 crore, officials said.

The central agency's probe centres on large-scale financial scams orchestrated through digital platforms, targeting several people across the country.

The case, registered under sections 403 and 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, is based on a complaint received from the Union Home Ministry’s Cyber Crime Coordination Centre (I4C).

The complaint alleged that organised cybercriminals, including suspected foreign entities, were systematically defrauding people through online schemes.

The investigation revealed that fraudsters, operating from abroad, used digital platforms such as websites, WhatsApp, and Telegram to execute scams. These schemes involved luring victims with promises of part-time jobs, task-based rewards, or high returns on initial investments.

“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," the CBI spokesperson said in an official statement.

 

"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 spokesperson added.

As per the probe agency, the siphoned funds were withdrawn overseas via ATMs or used for wallet top-ups on fintech platforms like 'Pyypl', using international payment networks disguised as Point of Sale (PoS) transactions.

 
 

Analysis of 3,903 complaints filed on the National Cybercrime Reporting Portal (NCRP) between January 1, 2023, and October 17, 2023, revealed that fraudsters had misappropriated approximately Rs 117 crore. These funds were predominantly withdrawn in Dubai and other parts of the UAE.

Additionally, investigations linked 3,295 Indian bank accounts to these fraudulent activities. The money channelled through these accounts was reportedly used to purchase cryptocurrencies, further complicating the traceability of funds.

During the searches conducted at 10 locations in Delhi and 2 in Gurugram, the CBI seized electronic devices, financial records, and other incriminating evidence from the premises of 10 suspects allegedly involved in the syndicate. The agency said it will continue its efforts to identify additional members of the network and trace the entire flow of illicit funds.

Meanwhile, the CBI has issued a caution to the public, urging vigilance when dealing with online offers, especially those promising quick earnings or lucrative returns.

 

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