Gujarat Police Nabs Cyber Crime Syndicate In Massive Rs 719 Crore Bust

Gujarat police have dismantled a cyber crime syndicate, arresting 10 individuals, including bank staff, for facilitating inter-state and international scams amounting to Rs 719 crore. These operations funneled stolen funds into mule bank accounts, converting them to cash and cryptocurrency, linked to gangs in Dubai and China.

In a significant move against cyber crime, the Gujarat police have apprehended a major gang and arrested ten individuals, including employees from financial institutions, for orchestrating a massive fraud operation worth Rs 719 crore. This operation spanned both domestic and international territories, authorities revealed on Monday.

According to the Cyber Centre of Excellence in Gandhinagar, the accused laundered money acquired through cyber fraud into mule bank accounts. This illicit cash flow was then transformed into crypto currency, eventually being transferred to syndicate members in Dubai with alleged ties to Chinese gangs.

The widespread fraud, involving 1,594 cases across numerous Indian states and Union territories, saw funds deposited into 110 mule accounts from 130 different payee accounts. The syndicate's activities spanned various forms of fraud, making it a complex case tackled through thorough technical analysis by law enforcement.

(With inputs from agencies.)