NEW DELHI: Delhi Police has arrested seven people and busted a cyber fraud network involving Rs 3.93 crore, un-earthed foreign money-exchange app and a hawala channel allegedly used to convert cheated money into USDT.
The arrest of the accused has revealed an alleged network involved in arranging mule bank accounts, withdrawing cash and transferring suspected proceeds of crime through multiple layers, an official said.
A 28-year-old man dealing in NBFC and loan-related transactions reported that 149 unauthorised transactions took place in his bank account around 11 am on October 5. Around Rs 3.93 crore was debited from the account.
The NCRP portal marked a lien/hold of Rs 1.78 crore, DCP(IFSO) Gaurav Tyagi said. Police conducted seven days of outstation investigation, travelling to Bikaner, Jodhpur and other locations in Rajasthan. They got a breakthrough after apprehending Brij Lal, who was also wanted in another cyber fraud case. His arrest helped investigators uncover further links in the suspected network.
The investigation revealed that the victim’s bank account was allegedly accessed or taken over without authorisation. The suspected proceeds were routed through multiple bank accounts allegedly arranged or operated by different people to complicate tracing, the DCP said.
Some accused allegedly withdrew substantial amounts from mule accounts and handed the cash to others. Investigators also found alleged links between Brij Lal, a money-exchange application and a hawala channel reportedly used to move funds and convert them into USDT.
Police recovered 45 cheque books, 25 passbooks, 45 ATM cards and 13 mobile phones.