Delhi Police Bust ₹70-Crore Cyber Fraud Syndicate; 10 Arrested Across 19 States

New Delhi: A major cybercrime investigation by Delhi Police has exposed an alleged nationwide fraud network accused of handling more than ₹70 crore through hundreds of fake corporate bank accounts. Ten people, including banking sector employees, have been arrested as part of the crackdown, which has uncovered links to cyber fraud cases across 19 states and Union Territories.

The investigation began after a Delhi resident reported losing ₹10,000 in a fake work-from-home freelancing scheme promoted through social media. While tracing the stolen money trail, investigators discovered that the funds had moved through an account registered under a suspected shell company, leading authorities to uncover a much larger financial network.

Fake Companies Used to Move Fraudulent Funds

According to investigators, the accused allegedly created fake business entities and opened corporate bank accounts using those companies. These accounts were then reportedly provided to cybercriminal groups as ready-made channels for transferring and hiding money obtained through online scams.

Police believe the syndicate operated a structured network of mule accounts, allowing fraud proceeds to be transferred through multiple layers of transactions. This method made it difficult for investigators to immediately identify the source and destination of illegal funds.

Banking Connections Under Investigation

Delhi Police have identified several accused persons, including alleged key operators Dishant Khanna, Kundan Kumar, Mohit Soni, Yogesh Kumar, Ranjeet Damion Ekka, and Mridul.

Authorities said five arrested individuals were connected to the banking sector, including three women associated with a partner bank. Investigators allege that these individuals helped the network by facilitating the opening of fraudulent corporate accounts and bypassing required verification procedures.

During searches conducted as part of the investigation, police recovered 248 corporate bank account kits, 38 SIM cards, 22 mobile phones, 28 fake company stamps, 55 debit and credit cards, cash, and a vehicle allegedly used by the group.

Digital evidence collected from seized devices, including financial records and online communications, is being examined to establish the full scale of the operation.

International Links and Wider Cyber Fraud Connections

Investigators have also found suspected links between the network and overseas-based operators in the United Arab Emirates and the United Kingdom. Authorities have initiated further action, including issuing Look Out Circulars against individuals believed to be connected with the alleged operation.

A review of records from the National Cyber Crime Reporting Portal (NCCRP) showed that the recovered corporate accounts were allegedly connected to 156 cybercrime complaints filed across 19 states and Union Territories. Reported losses in these cases exceed ₹20 crore, while authorities have frozen around ₹56 lakh from suspicious accounts during the ongoing investigation.

Experts Highlight Need for Stronger Financial Monitoring

Cybercrime specialists have warned that organised fraud groups are increasingly using shell companies, fake identities, and banking loopholes to move stolen funds quickly.

Experts stressed that stronger Know Your Customer (KYC) compliance, regular monitoring of suspicious accounts, and faster reporting of unusual financial activity by banks are critical to preventing large-scale cyber fraud networks.

The Delhi Police investigation remains ongoing, with authorities continuing to analyse financial transactions and digital evidence to identify additional suspects and recover more funds.