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

Delhi Police have dismantled a large cyber fraud network allegedly responsible for routing more than ₹70 crore through hundreds of fake corporate bank accounts, following an investigation that began with a small online job scam.

Ten people, including three women and several individuals with alleged links to the banking sector, have been arrested in connection with the operation. Investigators say the syndicate created shell companies, opened fraudulent bank accounts, and provided complete banking access packages to cybercriminal groups involved in financial scams.

The investigation has uncovered links to cyber fraud complaints across 19 states and Union Territories, with authorities also examining possible international connections in the UAE and the United Kingdom.

Investigation Started With ₹10,000 Work-From-Home Scam

The case began after a resident of Baljeet Nagar in Delhi reported losing ₹10,000 in an online freelancing job scam advertised through social media.

While tracing the transaction, financial investigators discovered that part of the stolen money had moved into a bank account registered under a suspected shell company. A deeper analysis of account activity revealed a wider network designed to hide the movement of cybercrime proceeds.

According to investigators, the syndicate created fake business entities and used them to open corporate bank accounts. These accounts were allegedly handed over to other fraud groups, allowing criminals to transfer and disguise money obtained through online scams.

Banking Sector Links Under Investigation

Police have identified Dishant Khanna as an alleged key figure in the operation, along with other accused individuals including Kundan Kumar, Mohit Soni, Yogesh Kumar, Ranjeet Damion Ekka, and Mridul.

Authorities allege that some arrested individuals connected to banking operations helped the network bypass standard customer verification procedures while opening fraudulent corporate accounts.

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 other suspected evidence

Investigators said digital evidence, including communication records and financial documents, indicated coordination between the accused and other cybercrime operators.

Offshore Links and Money Laundering Trail Examined

The investigation has also revealed possible links to overseas handlers based in the United Arab Emirates and the United Kingdom.

Police have issued Look Out Circulars against additional suspects, including an alleged mastermind believed to be located outside India.

Authorities are continuing to examine financial transactions to identify the full network and recover additional funds connected to the fraud operation.

Hundreds of Accounts Linked to Cybercrime Complaints

A review of national cybercrime records found that the 248 corporate accounts allegedly connected to the syndicate were associated with 156 complaints filed through the National Cyber Crime Reporting Portal.

The complaints span 19 states and Union Territories, with reported losses exceeding ₹20 crore. Police have so far frozen approximately ₹56 lakh in suspected accounts while further audits are underway.

Experts Warn About Growing Use of Shell Companies in Cyber Fraud

Cybersecurity experts said organized fraud groups are increasingly using fake businesses, mule accounts, and compromised financial channels to move stolen money quickly.

Experts stressed that stronger Know Your Customer (KYC) checks, monitoring of suspicious account activity, and faster reporting of unusual transactions by financial institutions are critical to disrupting such networks.

The Delhi Police investigation highlights the growing complexity of cybercrime operations, where fraudsters rely on financial infrastructure and organized networks rather than isolated scams.