INDIA. Mumbai: In a major operation named Chakra-II, the Central Bureau of Investigation (CBI) executed searches at 76 locations, uncovering two extensive international cyber fraud schemes worth crores of rupees. These elaborate scams were designed to exploit Indian and Singaporean citizens.
A total of five cases have been registered, leading to the seizure of 35 mobile phones, 48 laptops, 35 SIM cards, and the freezing of over 150 bank accounts, as stated in an official release.
These search operations spanned across various cities, including Patna, Kolkata, Lucknow, Varanasi, Chandigarh, Jalandhar, Bhopal, Chennai, Kochi, and Madurai. During these operations, significant evidence, such as identity documents, fraudulent banking records, and other incriminating documents, was discovered.
Additionally, multiple gangs were identified, and their involvement in defrauding Singaporean nationals was established during the course of the investigation.
In the first case, the CBI acted upon various inputs, including information provided by the Indian Cyber Crime Coordination Centre (I4C) under the Union Ministry of Home Affairs (MHA).
This case pertained to an intricate and organized cybercrime targeting Indian citizens, perpetrated by foreign fraudsters under the guise of investment, loans, and job opportunities.
The modus operandi of the fraudsters involved exploiting social media platforms, advertising portals, encrypted chat applications, and SMS to entice victims with alluring part-time job opportunities through Ponzi schemes and multi-level marketing ventures.
The victims were coaxed into depositing funds through UPI accounts, believing in the promise of substantial returns.
The illicitly acquired funds were subsequently funneled through a complex network of UPI accounts, eventually converging into cryptocurrency or gold acquisitions using falsified credentials.
CBI’s investigation also unveiled 137 shell companies, a significant number of which were registered with the Registrar of Companies in Bangalore.
Many of these companies had directors based in Bangalore, some of whom were linked to a Bangalore-based payout merchant.
This merchant played a central role in the fraudulent operation, overseeing approximately 16 distinct bank accounts through which a substantial sum of Rs. 357 crore was funneled.
These funds were then dispersed across multiple accounts in a deliberate effort to obscure the money trail.
The association of the accused with a foreign national was identified, and the role of two chartered accountants based in Bangalore in altering directorships and contact information linked to these fraudulent entities was discovered.
Searches at their premises yielded documents, email communications, and WhatsApp chats, offering crucial insights into their alleged facilitation of the foreign national’s involvement in these operations.
In another case, individuals remain unidentified, and allegations surround cyber-enabled financial crimes targeting Singaporean citizens.
Inputs regarding this matter were received via INTERPOL channels from the Singapore Police Force, relating to more than 300 cyber-enabled frauds against Singaporean citizens.
These scams involved over 100 Indian bank accounts spread across 10 States/Union Territories and employed a variety of cyber techniques, including phishing, vishing, smishing, and fraudulent tech support, to target over 400 Singaporean citizens.
The CBI’s comprehensive operation reflects the commitment to combat cyber fraud and financial crimes, emphasizing the need for international cooperation in addressing such sophisticated transnational schemes.
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