Gujarat Police Bust Rs 77 Cr Cyber Fraud Ring with International Ties

Gujarat Police have cracked a massive cyber fraud operation, netting Rs 77 crore and linking it to 375 cases nationwide. The investigation has led to the arrest of 16 individuals across various locations, including Goa, Vadodara, and Palanpur. According to the CID Crime Cyber Centre of Excellence, the busted network utilized a sophisticated scheme involving mule bank accounts and international communication channels.

The modus operandi involved procuring bank accounts and SIM cards under the names of unwitting individuals. These accounts were then leveraged to launder funds generated from cyber fraud and gaming-related scams. Cyber Threat Intelligence notes that the network maintained active communication with operators based in Dubai via WhatsApp and Telegram groups, facilitating coordination and the sharing of these compromised accounts.

Authorities recovered over 260 bank account details from the accused’s mobile devices. The operation also uncovered three fictitious shell firms established specifically to support the mule account network. These firms played a crucial role in providing the bank account details to cybercriminals engaged in fraud and money laundering.