Operation Chakra V: Unmasking the Cyber Fraud Syndicate

The CBI arrested three individuals involved in a transnational cyber fraud operation across Karnataka, Tamil Nadu, and Kerala. The syndicate, including foreign nationals, deceived thousands using counterfeit online investment plans and part-time jobs. The operation involves shell companies for money laundering and has a complex international network.

In a significant crackdown, the Central Bureau of Investigation (CBI) apprehended three individuals as part of its sweeping raids in Karnataka, Tamil Nadu, and Kerala. The arrests come amid an investigation into a widespread cyber fraud scheme that has duped thousands of Indians out of crores of rupees by leveraging social media and mobile apps with bogus job offers and investment plans.

The CBI's action follows a complaint from the Home Ministry's cyber crime division, pointing to the elaborate tactics employed by the gang, which included foreign nationals. They created elaborate networks of shell companies, misleadingly appointing individuals as directors to channel and launder illicit funds. These scammers tapped digital advertising, bulk SMS, and SIM Box systems to ensnare unsuspecting victims.

The investigation reveals that the syndicate converted scam proceeds into cryptocurrencies and gold, often transferring them overseas. As part of the ongoing 'Operation Chakra V', the CBI continues its efforts to dismantle this transnational fraud network and bring all perpetrators, including foreign nationals, to justice.

(With inputs from agencies.)