Two individuals have been arrested in Gurugram for allegedly providing bank accounts to cyber fraudsters involved in an investment scam that defrauded victims of approximately Rs 1.09 crore.
Delhi Police have busted a cyber fraud syndicate involved in duping people through fake stock investments, leading to the arrest of a 24-year-old student.
The Maharashtra government has taken steps to combat the rise in investment-related cybercrimes, including arrests, enhanced cybersecurity measures, and public awareness campaigns.
Mumbai police have registered a case against a man accused of cheating actress Varsha Usgaonkar and four others of Rs 47 lakh with promises of high investment returns.
Police in Kochi have arrested three directors of an agri-tourism firm accused of defrauding hundreds of investors of over Rs 100 crore through a fake investment scheme.
Odisha Police have arrested a man from West Bengal for his alleged involvement in an online investment fraud case involving Rs 12.33 crore.
A 42-year-old insurance consultant from Mumbra, Thane, was allegedly defrauded of over 71 lakh by cyber criminals through a cryptocurrency investment scheme.
Delhi Police have arrested two individuals from Rajasthan for allegedly defrauding a Delhi resident of over 21 lakh through a high-return online investment scam. The accused lured the victim with promises of lucrative returns and prepaid tasks.
Delhi Police have arrested six individuals linked to interstate cybercrime syndicates involved in digital arrest, fake IPO, and trading scams, recovering millions of rupees.
A 36-year-old man was arrested for allegedly cheating a businessman of around Rs 1.37 crore on the pretext of investing in a meat export business.
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The CBI has conducted searches across multiple states in connection with a large-scale online financial fraud involving the overseas fintech platform 'Pyypl'.
Patna Police arrested three individuals in two separate cyber fraud cases, involving share market investment scams and mule account operations.
Police in Navi Mumbai have dismantled a fraudulent call centre accused of swindling individuals out of over Rs 1 crore by falsely promising high returns on share market investments. Two individuals have been arrested, and investigations are ongoing.
Hyderabad police have dismantled a multi-crore illegal money circulation racket allegedly promoted by QNet, arresting 32 individuals across Telangana, Andhra Pradesh, and Karnataka.
A 36-year-old man from Thane, Maharashtra, was allegedly defrauded of Rs 62 lakh (62,000) by an acquaintance who enticed him to invest in the stock market with promises of high returns.
Delhi Police have arrested 11 individuals involved in a cyber fraud racket operating from Delhi and Mumbai, which allegedly defrauded a senior citizen of over Rs 22 lakh with promises of high investment returns. The network is linked to international operators in Cambodia.
Sebi Chairman Tuhin Kanta Pandey announced intensified surveillance and technology-driven enforcement to combat pre-investment scams targeting retail investors, who are increasingly being lured by fake trading apps and promises of high returns.
Delhi Police arrested a 22-year-old woman for allegedly providing mule bank accounts to an interstate cybercrime network, recovering numerous ATM cards, cheque books, and electronic devices.
Delhi Police have arrested three men and bound down a woman in connection with a cyber fraud operation that allegedly cheated a grocery shop owner of Rs 17 lakh through fake stock market investments.
A retired school teacher in Kanpur was allegedly defrauded of Rs 1.57 crore (approximately 150,000) in a sophisticated cyber scam involving impersonations of Mark Zuckerberg and associates of Elon Musk.
Delhi Police arrested 27 individuals across 11 states for involvement in cyber fraud cases exceeding Rs 1.5 crore, uncovering a network engaged in various scams including investment fraud and social media impersonation.
Gurugram Police have dismantled a nationwide cyber fraud network, arresting 10 individuals involved in scams that defrauded victims of Rs 40 crore.
The Enforcement Directorate (ED) conducted searches at 19 locations in Haryana and Chandigarh concerning the alleged embezzlement of Rs 590 crore from Haryana government accounts held with IDFC First Bank. The investigation focuses on identifying business entities involved in concealing the money trail and proceeds of the crime.
The Enforcement Directorate has launched a money laundering investigation into the alleged embezzlement of 590 crore from Haryana government accounts held with IDFC First Bank, conducting searches across multiple locations.
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The Bombay High Court has denied bail to a man accused of trafficking educated youth on the pretext of providing them jobs abroad, only to coerce them to carry out cyber fraud activities.
The Anti-Corruption Bureau/Economic Offence Wing (ACB/EOW) has claimed in its chargesheet that Chaitanya, son of former Chhattisgarh Chief Minister Bhupesh Baghel, received Rs 200 crore to Rs 250 crore as his share from an alleged liquor scam in the state.
The Supreme Court has directed the CBI to conduct a pan-India investigation into digital arrest scams and questioned the RBI about its lack of AI usage in detecting and freezing accounts used by cybercriminals.
Two chartered accountants have been arrested by the Enforcement Directorate in connection with a money laundering case linked to a cyber fraud involving Rs 641 crore.
'Just like oral hygiene, cyber hygiene must become a daily habit,' says Beena Vaheed, executive director, Bank of Baroda. 'It is not enough to rely only on banks, companies, or the government. Each of us must play our part.'
Cyber fraudsters have duped Delhi residents of nearly Rs 1,000 crore so far this year, with investment scams, digital arrests and boss scams emerging as the most common cybercrimes.
Sebi cautions investors against fake notices demanding Securities Transaction Tax (STT) payments and warns about fraudsters posing as account handlers promising risk-free profits.
Delhi Police have dismantled three multi-state cyber fraud networks involved in online investment scams, fake trading applications, and KYC fraud, leading to the arrest of three key individuals.
'Large firms and their interests can dominate the narrative, even as smaller stakeholders and retail investors struggle to be heard.' 'Regulators therefore require deep subject-matter expertise to assess representations, recognise underlying incentives, incorporate the perspectives of less-visible stakeholders, and guard against bias or capture,' notes Ananth Narayan.
India is no stranger to investment scams. From schemes which promise exceptionally high returns to fake share trading companies which are not registered, gullible investors are lured almost every other day.
The CBI has filed a chargesheet against 17 people, including four Chinese nationals, and 58 companies for their alleged roles in a transnational cyber fraud network that siphoned off over Rs 1,000 crore.
'Digital arrests are the cutting edge of the problem and the most challenging part of the ecosystem right now.'
In a pump and dump operation, fraudsters artificially inflate the price of a stock by spreading misleading or false information, creating a frenzy among unsuspecting retail investors.
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