New Delhi, 14 October (Read News). The Central Bureau of Investigation (CBI) today conducted coordinated raids in a case to large-scale cyber fraud in Karnataka, Tamil Nadu and Kerala. During this period three people were arrested.

CBI had registered this case on the input of I4C of the Home Ministry. Investigation revealed that thousands of citizens across the country were defrauded of crores of rupees on the pretext of online part-time jobs and investments. This fraud network included Indian and foreign nationals, who defrauded people using social media, mobile apps and encrypted messaging services.

The agency said, investigation also revealed that the accused and their associates created a network of several shell companies in Bengaluru and routed the proceeds of crime from there. Many people were defrauded by making them directors in e-commerce or fintech companies on the pretext of part-time jobs.

The fraudsters used digital advertising, mass SMS campaigns and SIM box systems to promote their fraudulent schemes. They recruited people through Telegram, WhatsApp and other platforms, took their KYC documents and created fake profiles and companies. Through these fake documents and digital signatures, many shell companies were formed and money was collected from the victims by opening bank accounts.

The investigation revealed that the money collected was divided into several layers and sent abroad through payment gateways, UPI platforms and cryptocurrency. Some money was hidden by converting it into gold or cryptocurrency. It was also revealed that some Indian nationals were involved in illegal online gambling and investment fraud under the direction of foreign controlled entities.

The CBI is still investigating to identify other accused, who also include foreign nationals, and freeze the proceeds of crime. This action is part of Operation Chakra, which aims to break international cyber fraud networks.

—————

(Read) / Prashant Shekhar