NEW DELHI: The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations across Delhi and its adjoining areas in connection with its probe into a case linked to cyber fraud involving embezzlement of Rs 117 crore, officials said.
The officials said that the raids were conducted following a case in this regard was registered on a complaint from the Indian Cyber Crime Coordination Centre (I4C) under the Union Ministry of Home Affairs (MHA).
In the FIR registered by the CBI, it has been alleged that unidentified organised cybercriminals and suspected foreign actors were engaged in systematic financial fraud across India, they said.
A senior CBI official said, “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.”
He further said, “The cybercriminals 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” and layered to obscure their origins.”
These funds are eventually withdrawn overseas via ATMs or used for wallet top-ups on fintech platforms such as “Pyypl”, facilitated by international payment networks often disguised as POS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, the official said.
“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 These funds were withdrawn primarily in Dubai and other UAE locations. Investigations identified 3,295 Indian bank accounts involved in these fraudulent transactions. Funds routed through these accounts were also used to purchase cryptocurrencies,” the official said.
During the searches conducted on Wednesday at two locations in Gurugram and eight in the national capital, “incriminating” evidence, including electronic devices and financial records, was seized from the premises of 10 individuals suspected of involvement in the fraud, the official said, adding that he probe is ongoing to identify additional members of the syndicate and trace the complete flow of illicit funds.