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Fraud

India Busts Cybercrime Racket Targeting US Citizens, Seizes Rs.11.2 Lakh and Bitcoin Worth Rs.6.94 Lakh

Strategic Insights

— 1 min read

The Central Bureau of Investigation (CBI) in Mumbai busted a cybercrime racket that targeted unsuspecting US citizens by claiming their online accounts had been compromised and used for illegal activities. The fraudsters, operating from a call centre in Pune, extracted money from their victims by impersonating customer care executives of e-commerce and consumer electronics platforms. The victims were asked to withdraw money, buy gift vouchers, and transfer them to the scammers' Bitcoin wallets. The syndicate allegedly generated Rs.3-4 crore per month, laundering the proceeds through mule accounts, cryptocurrency, and hawala routes. The CBI also found evidence of tax and immigration scams, as well as the illegal acquisition of contact leads through encrypted messaging platforms.

Key Takeaways:

  • The cybercrime racket targeted unsuspecting US citizens, claiming their online accounts had been compromised and used for illegal activities.
  • The fraudsters impersonated customer care executives of e-commerce and consumer electronics platforms to extract money from their victims.
  • The victims were asked to withdraw money, buy gift vouchers, and transfer them to the scammers' Bitcoin wallets.
  • The syndicate allegedly generated Rs.3-4 crore per month, laundering the proceeds through mule accounts, cryptocurrency, and hawala routes.
  • The CBI seized unaccounted cash worth around Rs.11.2 lakh, 150 grams of narcotic substances, and cryptocurrency worth Rs.6.94 lakh.
  • The agency booked unidentified bank officials who allegedly facilitated the opening and operation of fake bank accounts using forged KYC documents.
  • The operation involved the alleged illegal acquisition of contact leads through vendors who operated on encrypted instant messaging platforms.

Statistics:

  • The cybercrime racket generated Rs.3-4 crore per month.
  • The CBI seized unaccounted cash worth around Rs.11.2 lakh and cryptocurrency worth Rs.6.94 lakh.
  • 150 grams of narcotic substances were recovered from the premises of the accused.
  • The syndicate allegedly operated from seven premises in Mumbai and Pune.

Sources:

  • Hindustan Times
  • Central Bureau of Investigation (CBI)

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