CBI Nabs Suspect In Transnational Cyber Extortion Syndicate, Recovers Crypto Worth $45,000
The accused was found in possession of a well-organised ecosystem used for committing cyber frauds.
The Central Bureau of Investigation said on Friday it arrested a suspect behind a transnational cyber extortion syndicate from Mumbai and recovered crypto assets worth $45,000.
Under 'Operation Chakra-V', the agency conducted coordinated search operations at multiple locations in Ahmedabad and Mumbai on Wednesday and gathered incriminating evidence.
"The case pertains to a sophisticated international fraud network involved in cheating foreign nationals, particularly citizens of the US and Canada, by impersonating government officials, threatening them with false allegations, and subsequently extorting funds," the CBI said in a press release. "The proceeds of crime were found to be received in the form of cryptocurrencies."
During the operation, the accused was found in possession of a well-organised ecosystem used for committing cyber frauds, which included, telecommunication setup, pre-drafted scam scripts, forged identity badges, and ID cards purporting to be of Canadian law enforcement authorities.
He was also found to be leading a lavish lifestyle, as evidenced by the recovery of luxury vehicles, high-end accessories, frequent foreign visits and substantial unaccounted wealth, the CBI said.
Identified by the US Federal Communications Commission as a significant threat, the "Royal Tiger Gang" was run by the accused. They allegedly used unlawful robocalls to impersonate various entities, including government agencies, banks and utility service providers, to systematically defraud and deceive consumers in the US.
The accused has been produced before the CBI court and taken into four-day remand for interrogation. The investigation is continuing, the agency said.
A day prior, the probe agency launched nationwide searches at 42 locations to crack down on mule bank accounts being used in cyber frauds.
Nine suspects were arrested and around 8.5 lakh mule accounts in more than 700 branches of various banks across India have been identified. Acting on inputs, the central probe agency launched coordinated searches at locations across Rajasthan, Delhi, Haryana, Uttarakhand and Uttar Pradesh, according to an official statement.
The CBI took action under Operation Chakra-V against the menace of mule bank accounts being opened by organised cyber fraudsters involved in digital arrest scams, impersonation, fraudulent advertisements, investment frauds and UPI-based financial frauds to transfer the cyber fraud amounts from the accounts of the victims.
