The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations across the national capital and surrounding areas in connection with an ongoing probe of a transnational cyber-enabled fraud case involving large-scale financial scams.
During the searches conducted today, incriminating evidence, including electronic devices and financial records, was seized from the premises of 10 individuals suspected of involvement in the fraud.
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The probe is underway to identify additional members of the syndicate and trace the complete flow of illicit funds.
The CBI had registered the said case under relevant sections of the law, stemming from a written complaint by the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs.
The complaint alleged that unknown organised cybercriminals and suspected foreign actors were engaged in systematic financial fraud across India.
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 have so far siphoned off approximately Rs 117 crore.
According to the probe agency officials, the investigation so far has revealed that fraudsters operating from overseas use digital platforms such as websites, social media communication platforms to target victims in India.
They lure individuals on the pretext of giving part-time jobs, task-based frauds, and promises of high returns on initial investments.
In such cases of cheating, the funds deposited by the victims are allegedly transferred through a network of “mule accounts,” layered to obscure their origins, and are later withdrawn from ATMs located in foreign countries, or used for wallet top-ups on fintech platforms.
The CBI has urged citizens to exercise caution while engaging with offers on digital platforms, particularly those promising quick earnings or lucrative investments, and has advised the public to report any suspicious activities to law enforcement agencies.
