Overview
- Crime Branch officers arrested five suspects, including a private bank relationship manager, and linked the ring to 52 fraud complaints spanning 12 states.
- Investigators said the syndicate used fake firms and multiple current accounts to launder victim funds, with Hindustan Times reporting losses nearing ₹500 crore and at least 34 accounts opened with insider help.
- Seizures included 18 mobile phones, 36 SIM cards, a laptop with cryptocurrency wallet data, bank statements, and documents tied to front companies.
- Kerala’s Operation Cy‑Hunt reported 284 arrests, 439 FIRs in a two‑day phase, and data on 2,683 suspected facilitators, with police warning that students are selling bank accounts used as mules.
- In parallel cases, Kanpur police arrested two men linked to 35 complaints totaling about ₹60 lakh, while Delhi’s South‑East Cyber Police busted a fake hotel‑booking network, arresting four and flagging 100‑plus counterfeit sites tied to 132 complaints and over ₹1 crore in losses.