In a major breakthrough, the Ahmedabad Cyber Crime Unit has uncovered a massive online fraud, where a criminal gang exploited a company owner’s lost SIM card to siphon off Rs2.29 crore through net banking. The fraudsters targeted the Neva Export Company’s account at Kalupur Co-operative Bank in Ahmedabad, executing multiple transactions after gaining unauthorized access to the company’s banking details.
The gang is believed to have operated under the influence of the notorious Munna Ansari gang from Uttar Pradesh, with connections spanning several states. The police’s swift investigation led to the arrest of one key suspect, Saurabh Yadav, who initially opened a bank account used by the fraudsters. He revealed that he had been in contact with Karthik Singh Durgapratap Singh, who, after being imprisoned in Azamgarh in 2021, had reached out to him for help in opening a bank account. The money was then funneled through this account to facilitate fraudulent transactions, amounting to over ₹2.29 crore.
The fraudsters used a multi-step process to execute the scam. First, they hacked the company’s email accounts using malware to obtain net banking passwords. Once they had the login credentials, they falsely claimed that the company’s registered SIM card was lost and had it deactivated. This allowed the gang to bypass One-Time Passwords (OTPs), which are typically sent to the SIM, blocking any alerts from reaching the company’s directors.
The fraudsters were able to manipulate the bank account undetected, often executing transactions on weekends to exploit the time when the company’s key personnel were unavailable to react. Over a series of transactions, the gang transferred the stolen funds to multiple accounts, making it difficult for authorities to trace them quickly.
The investigation revealed that the fraud was part of a larger scheme involving the Munna Ansari gang, which is known for its involvement in various criminal activities, including online financial fraud. In the course of the probe, Yadav and Sonu, another associate of the gang, were arrested. Police discovered that the gang’s modus operandi was well-planned and had been executed through a network of associates who helped launder the stolen money.
The Ahmedabad Cyber Crime Unit has seized evidence linking the fraud to more criminal activities, with further arrests expected as the investigation continues. Authorities are also working to identify the exact number of victims affected by the scam, as the gang had been operating across different regions, including Dimapur and parts of Uttar Pradesh.
