Mumbai Police Uncover Cyber Fraud Ring, Arrest 12 for ₹60.82 Crore Scam

Mumbai Police Bust Major Cyber Fraud Operation

The Mumbai Police have dismantled a cyber fraud syndicate that allegedly swindled ₹60.82 crore from individuals across the country, leading to the arrest of 12 suspects, including a couple. This information was disclosed by a police official on Friday.

According to the officer, five of the arrested individuals had sold their bank accounts and SIM cards specifically for use in cyber fraud activities.

Deputy Commissioner of Police (Investigation) Raj Tilak Roshan stated that these arrests occurred following a raid by the Mumbai Crime Branch on an office in Kandivali, a western suburb, on August 12, where officials seized SIM cards and bank passbooks.

The gang reportedly purchased 943 bank accounts, out of which 180 were utilized for fraudulent activities. The suspects have been operating this scheme since last year.

The officer further revealed that the five suspects were apprehended on August 12, while the others were caught during the ongoing investigation.

The gang acquired SIM cards and bank accounts for ₹7,000-8,000 each, using them for scams related to digital arrests, online shopping, and stock market transactions.

The fraudulent activities involving these bank accounts and SIM cards resulted in a total loss of ₹60.82 crore to victims nationwide, including ₹1.67 crore in Mumbai and ₹10.57 crore in other parts of Maharashtra.