CBI searches 10 locations in Delhi, NCR in cyber fraud

Tribune News Service

New Delhi, December 4

The Central Bureau of Investigation (CBI) on Wednesday conducted searches at 10 locations in Delhi and surrounding areas in connection with an ongoing investigation of a transnational cyber enabled fraud case involving large-scale financial scams.

The complaint alleged that unknown organised cybercriminals and suspected foreign actors were engaged in systematic financial fraud across India. During the searches conducted on Thursday, incriminating evidence, including electronic devices and financial records, was seized from the premises of 10 persons suspected of involvement in the fraud.

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. They 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,” 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These funds are eventually withdrawn overseas via ATMs or used for wallet top-ups on fintech platforms such as “Pyypl,” facilitated by international payment networks often disguised as POS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.

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 These funds were withdrawn primarily in Dubai and other UAE locations.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.