Mumbai Crime Branch Busts ₹500 Crore Cyber Fraud Racket

The Mumbai Crime Branch has busted an international cyber fraud racket operating from a luxury villa in Goa, with investigators uncovering a complex web of transactions worth around ₹500 crore over the past six months.

The accused allegedly used the villa, located near Calangute Beach, to carry out various types of cyber fraud, including digital arrest scams, WhatsApp DP-related frauds, and APK file-based frauds.

The police have found that one of the key handlers of the racket is allegedly based in Sri Lanka, raising questions about the island nation's potential emergence as a hub for such operations.

The investigation has revealed that the accused used over 150 mule accounts to route the proceeds of the fraud to Dubai, where they were converted into USDT cryptocurrency.

The accused were allegedly paid a 3% commission on transactions, besides monthly salaries of around ₹25,000 to ₹30,000, and were found to be leading a lavish lifestyle.

Youngsters were allegedly recruited on the pretext of jobs in the garment business and later trained by absconding members to handle cyber fraud transactions.

The members of the network communicated through an application called Rudra, and the police are examining whether similar cyber fraud centres are operating from other rented villas near Goa's beaches.

The villa, which is around 2,000 square feet, had allegedly been rented for around ₹1 lakh a month and may have been used for six to eight months.

The busting of the cyber fraud racket has highlighted the need for increased vigilance and cooperation between law enforcement agencies to combat such crimes.

The Mumbai Crime Branch's investigation has sent a strong message to cyber fraudsters, and the police are working to apprehend the absconding members of the network.

The case has also raised concerns about the potential for other luxury villas in Goa to be used as hubs for cyber fraud operations, and the police are taking steps to prevent such activities.

In the end, the busting of the ₹500 crore cyber fraud racket is a significant achievement for the Mumbai Crime Branch, and it will help to prevent similar crimes in the future.