The raids were linked to a sophisticated organised investment fraud scheme targeting unsuspecting individuals through fake mobile apps and WhatsApp groups.
In a major crackdown on cyber-enabled financial crimes, the Central Bureau of Investigation on Friday searched 10 locations across Delhi, Hisar, Lucknow, Mumbai, Pune, and Nashik as part of Operation Chakra-V.
The raids were linked to a sophisticated organised investment fraud scheme targeting unsuspecting individuals through fake mobile apps and WhatsApp groups.
A Kalyan resident was arrested for allegedly supplying pre-activated SIM cards and mule bank accounts -- critical resources for fraudulent operations -- to cybercriminals, according to the CBI statement.
During the searches, the CBI recovered substantial incriminating material, including digital devices and documents, which shed light on the inner workings of the syndicate.
The fraud involved luring investors with promises of discounted shares in reputed listed companies.
Victims were tricked into transferring money through deceptive platforms, only to later discover that their funds had been misappropriated.
According to the CBI, the cyber syndicate operated with a well-coordinated infrastructure, using technology and social engineering to defraud the public on a large scale.
The searches have revealed a complex network that enabled the laundering and siphoning of proceeds.
'Operation Chakra-V underscores the CBI's unwavering commitment to dismantling cybercrime syndicates and the digital infrastructure that sustains them,' the agency said in a statement.
Earlier on June 11, the CBI, under its ongoing anti-cybercrime drive 'Operation Chakra-V', uncovered a transnational cyber fraud network targeting citizens in the United States and Canada.
Acting on specific intelligence, the agency carried out searches at three locations in India and arrested one individual, Rahul Arora, in New Delhi.
He is accused of posing as a government official and tech support representative to deceive foreign nationals.
The operation led to the recovery of critical digital evidence, including international calling devices, caller ID spoofing software, social engineering-based lead generation tools, voice recordings, and other cyber fraud tools.
Additionally, the CBI seized cryptocurrency valued at Rs 2.8 crore (rs 28 million) and Rs 22 lakh (Rs 2.2 million) in unaccounted cash, highlighting the significant scale of the fraudulent activities.
Feature Presentation: Ashish Narsale/Rediff
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