Rs 5,600 crore cyber fraud ring busted; 2 held: UP Police
Police here have busted an alleged inter-state cyber fraud network involving transactions of around Rs 5,600 crore over three years and arrested two alleged members, a senior officer said on Saturday.
Police also seized Rs 65 lakh in cash during a raid at an office in the Jajmau area, Commissioner of Police Raghubir Lal said.
The network allegedly involved online gaming, investment fraud, cricket betting, hawala transactions and bogus firms used to route suspected fraud proceeds.
The arrested accused have been identified as Shawez Waris of Beconganj and Salman of Chamanganj. Waris was arrested in Hyderabad after allegedly attempting to travel to Dubai following registration of a case against him on August 18.
He was brought to Kanpur on transit remand, after which Salman was arrested based on Waris’s alleged disclosures. Analysis of 76 bank accounts and related entities has revealed 82-86 complaints on the National Cyber Crime Reporting Portal and transactions of around Rs 5,600 crore, though the figures are being verified, police said.
Waris was linked to 22 complaints and transactions of around Rs 170 crore through 11 accounts, while two accounts linked to Salman recorded transactions of around Rs 16 crore. Police have identified around 76 suspected firms, some allegedly having fake or unverifiable addresses.
Investigators are examining their bank accounts, registrations and digital transactions. The alleged modus operandi involved promising victims high returns on investments and routing the money through multiple bank and merchant accounts, including those linked to online gaming platforms. Cash was allegedly moved through hawala channels. The network is suspected to have links across several states and abroad.
Police are also tracing absconding suspects, including alleged key member Akhlaq Hussain, whose locations were earlier traced to Lucknow and Nepal. The investigation is continuing to trace the flow of funds and identify other members of the alleged network.
