FIU-India Earns Global Honour for Cyber Fraud Investigation

The case began with intelligence provided by the Indian Cyber Crime Coordination Centre (I4C) concerning a large-scale cyber fraud.

The Financial Intelligence Unit–India (FIU-IND) has received international recognition after securing the Runner-up position at the Best Egmont Case Award (BECA) 2026 during the Egmont Group Plenary held in Baku, Azerbaijan. The honour highlights India's growing role in tackling complex financial crimes through intelligence-led investigations and international cooperation.

The award is regarded as one of the highest distinctions within the Egmont Group, recognising exceptional cases that demonstrate excellence in financial intelligence, cross-border collaboration and efforts to combat money laundering and terrorist financing. FIU-IND's investigation was selected as one of only two finalists from submissions made by 182 member jurisdictions before being named the runner-up. The achievement came under the leadership of FIU-IND Director Amit Mohan Govil and reflects the agency's expanding contribution to global financial crime investigations.

Investigation uncovered ₹868 crore laundering network

The case began with intelligence provided by the Indian Cyber Crime Coordination Centre (I4C) concerning a large-scale cyber fraud. Detailed financial analysis by FIU-IND uncovered an elaborate money laundering network involving cybercrime proceeds estimated at around ₹868 crore. Investigators traced the movement of funds through more than 5,000 mule bank accounts and identified complex cryptocurrency transactions that extended across multiple countries. The investigation highlighted the increasingly sophisticated methods used by cybercriminals to conceal illicit funds and move money through international financial channels.

A key part of the operation involved close cooperation with Financial Intelligence Units in several countries through the Egmont Secure Web, allowing investigators to exchange financial intelligence, track cross-border cryptocurrency transfers and identify the international money laundering trail.

Intelligence led to enforcement action in India

FIU-IND's operational analysis formed the basis for action by the Directorate of Enforcement (ED), which carried out searches at 13 locations during the investigation. Authorities seized ₹47 lakh in cash along with cryptocurrency, including USDT valued at approximately ₹13.6 crore, while assets worth ₹8.67 crore were attached. The Enforcement Directorate also filed two prosecution complaints under the Prevention of Money Laundering Act (PMLA), 2002, as part of the ongoing legal proceedings.

Officials said the international recognition reinforces India's growing leadership in financial intelligence and reflects FIU-IND's commitment to strengthening the country's anti-money laundering and counter-financing of terrorism framework through advanced analytical capabilities, close coordination with domestic agencies and effective cooperation with international partners.