In a significant operation against financial frauds, the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI) have uncovered a massive Rs 640-crore cyber scam targeting individuals through fake job offers, phishing, and illegal betting activities. The case, which has sent shockwaves through the financial world, is being described as one of the largest of its kind in recent times.
The CBI initiated the investigation following a formal complaint from the Ministry of Home Affairs. This led to the registration of a case, which was further bolstered by the ED's involvement after the CBI's FIR. The ED registered a Prevention of Money Laundering Act (PMLA) case to pursue the money trail and investigate the financial operations behind the scam.
The CBI carried out searches at 10 locations in Delhi and surrounding areas, while the ED raided 13 premises across multiple cities, including Delhi, Gurugram, Jodhpur, Jhunjhunu, Hyderabad, Pune, and Kolkata. These searches have led to the recovery of incriminating documents, including chequebooks, ATM cards, PAN cards, and digital signatures. A cash seizure of Rs 47 lakh was also reported, along with the discovery of cryptocurrency assets worth Rs 1.36 crore. In addition, several bank accounts have been frozen as part of the ongoing investigation.
The ED's probe revealed that fraudsters operating from abroad utilized digital platforms such as websites, WhatsApp, and Telegram to scam victims across India. These criminals enticed individuals with part-time job offers, task-based frauds, and promises of high returns on initial investments. Victims, once lured, deposited funds that were quickly funneled through a complex web of "mule accounts" designed to obscure the origins of the money.
Further investigation found that the Rs 640 crore generated from phishing, betting, and part-time job scams was transferred overseas through various methods, including ATM withdrawals and fintech wallet top-ups on platforms like UAE-based Pyypl. It is estimated that around Rs 117 crore of the total amount siphoned off was withdrawn via these means.
In connection with the scam, the ED has arrested two chartered accountants, Ajay and Vipin Yadav, and a crypto trader, Jitendra Kasw, under PMLA provisions. The main accused, CA Ashok Kumar Sharma, is under investigation, though his residence was attacked by a group attempting to block ED access during the raid.
The ED and CBI continue their efforts to identify further members of the syndicate and trace the complete flow of illicit funds. The investigation highlights the growing threat of cyber crimes and underscores the need for vigilance in protecting financial assets against such fraudulent schemes.
Authorities urge citizens to remain cautious and report any suspicious online activity to prevent falling victim to such scams.
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