On Tuesday, the Telangana Cybercrime Security Bureau (TGCSB) arrested four members of an international cybercrime gang involved in a Rs5.4 crore digital fraud. The investigation began on June 29, after a senior citizen filed a complaint stating he had been scammed of Rs5.4 crore.
According to Shikha Goel, director of TGCSB, the gang used a series of complex financial maneuvers, including withdrawing funds from bank accounts and converting them into dollars. After a thorough probe, authorities traced the servers used by the accused and tracked their activities, which led to their arrests.
The accused were identified as Mohammad Ilyas, a food delivery app executive; Mohammad Rizwan, a ride-hailing app driver; and Syed Gulam Askari, a car dealer. They utilized 17 bank accounts belonging to acquaintances, providing account details to their Dubai-based accomplice, Syed Gulam. The funds were transferred to these accounts and withdrawn by co-conspirators, who paid a 10% commission to the account holders.
The money was then passed to local agents who converted the funds into cryptocurrency, sending it to the crypto wallet of Mustafa, the prime suspect based in Dubai. So far, the gang has withdrawn Rs1.34 crore across the 17 bank accounts, with links to 26 cybercrime cases across India.
The investigation is ongoing, with authorities working to identify the account holders and determine the role of bank officials in the scam.