Gujarat Police Busts Major Cyber Fraud Syndicate

Police in Gujarat's Junagadh have dismantled a network facilitating cyber fraud money laundering, arresting eight suspects. This group funneled Rs 50 crore from cyber crimes into over 200 bank accounts. The funds were quickly withdrawn and distributed via Hawala channels. Investigations continue to identify all perpetrators.

Authorities in Junagadh, Gujarat have uncovered a sophisticated operation allegedly helping cyber criminals launder money through multiple bank accounts, leading to the arrest of eight individuals, officials reported Monday.

An investigation by local police into 42 out of roughly 200 suspicious bank accounts revealed that cyber criminals had illicitly deposited a staggering Rs 50 crore acquired from various schemes targeted across states.

The network, predominantly serving inter-state cyber criminals, facilitated the concealment of illicit funds by acquiring bank accounts through fraudulent methods and incentivizing account holders, according to Range IGP Nilesh Jajadia.