The CBI on Wednesday conducted raids at 10 locations in Delhi and surrounding areas in connection with a transnational cyber-enabled financial fraud of ₹117 crore, agency officials said.
A case had been registered recently on a complaint from the Union home ministry's cyber crime coordination centre.
The complaint alleged that unknown organised cybercriminals and suspected foreign actors were engaged in a systematic financial fraud across India.
"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,” the CBI spokesperson said.
“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,” he said.
These funds are eventually withdrawn overseas via ATMs or used for wallet top-ups on fintech platforms such as Pyypl, facilitated by international payment networks.
The agency said in a statement that an analysis of 3,903 complaints registered on the National Cybercrime Reporting Portal between January 1, 2023, and October 17, 2023, had revealed that the fraudsters had siphoned off approximately ₹117 crore.
“These funds were withdrawn primarily in Dubai and other UAE locations.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 agency said.
