CBI unearths cyber fraud scam of Rs 117 crore

New Delhi: Central Bureau of Investigation (CBI) has cracked down on a massive cyber fraud scheme, uncovering a staggering Rs 117 crore scam. The investigation, which involved searches at 10 locations in Delhi and surrounding areas, has shed light on a complex web of financial scams orchestrated by organised cybercriminals and suspected foreign actors.CBI has registered the case under various sections of Indian Penal Code and the Information Technology Act, 2000, following a complaint from the Indian Cyber Crime Coordination Centre (I4C), ministry of home affairs. The complaint alleged that these cybercriminals were engaged in systematic financial fraud across India, targeting victims through digital platforms such as websites, WhatsApp and Telegram.The scammers employed various tactics to lure people, including part-time job scams, task-based frauds, and promises of high returns on initial investments.Once the victims deposited funds, they were quickly transferred through a network of "mule accounts" designed to obscure their origins. The funds were eventually withdrawn overseas via ATMs or used for wallet top-ups on fintech platforms.An analysis of 3,903 complaints registered on the National Cybercrime Reporting Portal (NCRP) revealed that the fraudsters siphoned off approximately Rs 117 crore, primarily withdrawn in Dubai and other UAE locations. Investigations identified 3,295 Indian bank accounts involved in these fraudulent transactions.During the searches, the CBI seized incriminating evidence, including electronic devices and financial records, from the premises of 10 people suspected of involvement in the fraud. The investigation is ongoing to identify additional members of the syndicate and trace the complete flow of illicit funds.In light of this development, the CBI has urged citizens to exercise caution while engaging with offers on digital platforms, particularly those promising quick earnings or lucrative investments. Any suspicious activity should be reported immediately to law enforcement agencies.
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