CBI Cracks Down on Cyber-Fraud Nexus in India

The CBI conducted searches at 10 locations in Delhi and surrounding areas in a case of transnational cyber-enabled financial fraud involving Rs 117 crore. The investigation is based on a complaint from the Union Home Ministry's Cyber Crime Coordination Centre. Fraudsters utilized digital platforms to deceive victims, transferring funds through mule accounts.

The Central Bureau of Investigation (CBI) executed searches across 10 locations in Delhi and nearby areas, addressing a case involving a substantial transnational cyber-enabled financial fraud estimated at Rs 117 crore, according to officials.

The investigation stems from a complaint filed by the Union Home Ministry's Cyber Crime Coordination Centre (I4C), highlighting a systematic financial deception orchestrated by unidentified cybercriminals and potential foreign entities across India.

According to the CBI Spokesperson, international fraudsters have exploited digital platforms like websites, WhatsApp, and Telegram in their operations. They attract victims through various scams, including part-time job offers and investment schemes with promises of hefty returns, before siphoning off deposited funds via a complex network of 'mule accounts' designed to mask fund origins. Wednesday's operation led to the confiscation of crucial evidence, such as electronic devices and financial records, from 10 suspects in Gurugram and Delhi.

(With inputs from agencies.)