CBI Unmasks Multinational Cyber Fraud; 17 Indicted in Rs 1,000 Crore Scam

The CBI has charged 17 individuals and 58 companies in a colossal transnational cyber fraud, orchestrated by a syndicate that exploited layered digital and financial systems to siphon off Rs 1,000 crore. The fraudsters utilized shell companies, fake documents, and tech-driven schemes to conceal their identities and evade detection.

The Central Bureau of Investigation (CBI) has filed a chargesheet implicating 17 people, including four Chinese nationals, and 58 companies in a massive cyber fraud network siphoning over Rs 1,000 crore. This intricate scheme was reportedly coordinated through shell entities and digital scams.

The operation, unmasked in October, revealed a tightly managed network that employed advanced digital infrastructure to perpetrate various frauds, from misleading loan applications to deceptive investment schemes. This network funneled illicit funds through 111 shell companies, with one account accumulating over Rs 152 crore.

The origin of the scam traces back to 2020, involving Chinese operatives directing Indian associates to launder money via shell companies. These actions were part of a carefully structured scheme using SIM-box messaging, fintech platforms, and more to hide the criminal masterminds and global operations.

(With inputs from agencies.)