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.

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.

New Delhi: The Directorate of Enforcement (ED) has carried out searches at 19 locations across Tamil Nadu, Kerala and Srinagar as part of a money laundering investigation linked to alleged online investment fraud and fake work-from-home schemes.

The searches were conducted on July 10 and 11 under the provisions of the Prevention of Money Laundering Act (PMLA). According to the agency, the operation covered 16 locations in Tamil Nadu, two in Kerala and one in Srinagar. The case originated from two cybercrime complaints registered by the Tamil Nadu and Telangana Police.

Victims Allegedly Duped Through Fake Investment Platforms

According to ED officials, the accused allegedly attracted victims through fraudulent online investment platforms and work-from-home opportunities by promising unusually high returns and attractive earning opportunities.

Investigators claim that victims transferred nearly ₹14.95 crore into bank accounts allegedly linked to the accused. The agency is examining the flow of these funds and the methods allegedly used to conceal their origin.

Funds Allegedly Routed Through Mule Accounts and Crypto Channels

The ED has alleged that the suspected proceeds of crime were moved through multiple bank accounts, shell entities and cryptocurrency channels to disguise the financial trail.

Investigators have identified Roshan Fiaz as one of the individuals allegedly involved in the suspected laundering network. The allegations against him and others are part of an ongoing investigation and remain subject to judicial review.

The agency claims that several bank accounts were opened shortly before receiving fraudulent funds and later closed after transactions were completed. Officials are examining whether these accounts were allegedly used as part of a wider money laundering arrangement.

Digital Evidence and Financial Records Seized

During the searches, ED teams recovered documents, electronic devices, laptops, mobile phones, banking records, company-related documents and information connected with suspected shell companies.

Investigators also collected details related to cryptocurrency wallets and virtual digital assets to trace the movement of funds allegedly generated through cyber fraud.

According to the ED, assets worth around ₹3.35 crore in cryptocurrency and cash amounting to ₹14.50 lakh were seized during the operation. The agency also froze bank accounts containing more than ₹40 lakh.

Probe Focuses on Complete Money Trail

Officials said forensic analysis of digital devices, banking transactions and cryptocurrency records is underway to identify additional beneficiaries and determine the full extent of the alleged financial network.

Cybercrime experts have highlighted that online investment scams and fake employment frauds are increasingly using sophisticated laundering methods involving mule accounts, shell companies and digital currencies.

Former IPS officer and cybercrime expert Prof. Triveni Singh said that effective investigation of such cases requires advanced digital forensics, blockchain analysis, financial intelligence and coordination between multiple enforcement agencies.

He added that tracking the movement of illegal funds quickly is crucial for improving recovery efforts and strengthening legal action against organised cyber fraud networks.

The ED has stated that the investigation is continuing and further action will be taken based on evidence collected during the probe. The accused will be subject to due legal process, and final determination of guilt will be made by the competent court.