In a significant victory against cyber-enabled financial crimes, the Central Bureau of Investigation (CBI) recently concluded Operation Chakra-II, which revealed two extensive cases of fraud. These operations exposed an intricate web of cyber criminals exploiting Indian and Singaporean citizens. This blog post delves into the details of these cases and the CBI's relentless efforts to bring the culprits to justice.
The Indian Citizens' Investment Fraud:
In the first case, the CBI initiated action against an organized cybercrime syndicate that targeted Indian citizens through enticing investment, loan, and job opportunities. The criminals used various tactics, including social media platforms, encrypted chat applications, and bulk SMS to lure victims into fraudulent schemes. They promised high returns and manipulated UPI accounts, cryptocurrencies, and international money transfers to conceal their illicit activities.
CBI's extensive investigation revealed a complex network of 137 shell companies, with many registered in Bangalore. The directors of these entities were primarily based in Bangalore and linked to a payout merchant. This merchant controlled multiple bank accounts, through which approximately Rs. 357 crore was funneled, making it challenging to trace the money trail. Additionally, two chartered accountants from Bangalore played a role in altering directorships and contact information associated with these fraudulent entities, aiding a foreign national's involvement in the operation.
The Cyber Fraud Targeting Singapore Citizens:
In the second case, CBI registered a case based on information from the Singapore Police Force via INTERPOL channels. This case involved over 300 cyber-enabled frauds against Singaporean citizens, with more than 100 Indian bank accounts spread across ten states and union territories. The criminals employed a range of cyber techniques, including phishing, vishing, smishing, and fraudulent tech support, to defraud over 400 Singaporean citizens.
CBI's investigation uncovered a vast cyber fraud network that exploited these techniques to make victims transfer funds from Singaporean accounts to India. The defrauded funds were then distributed among various accounts or withdrawn by the cybercriminals.
The extensive operation involved analyzing approximately 150 bank accounts and identifying leads on the money trail. Searches conducted across 35 locations, including Patna, Kolkata, Lucknow, and more, led to the recovery of incriminating documents and crucial evidence. Multiple gangs targeting Singaporean nationals were identified during the investigation, shedding light on their identities.
CBI's Operation Chakra-II has exposed the intricate and multifaceted world of cyber-enabled financial crimes targeting both Indian and Singaporean citizens. The relentless efforts of the CBI have led to the discovery of complex fraud networks, recovery of evidence, and the identification of key individuals involved in these criminal operations. These cases serve as a stark reminder of the importance of cybersecurity and law enforcement's commitment to combating cybercrime on an international scale.
