CBI arrests three members of gang defrauding people using social media

New Delhi, Oct 14 (PTI) The CBI arrested three people on Tuesday during its coordinated searches in Karnataka, Tamil Nadu, and Kerala against a group of cyber criminals deceiving people on social media by luring them with online investment plans and part time jobs, officials said.

The CBI acted on a complaint from Union Home Ministry's anti-cyber crime unit I4C, alleging thousands of Indians were duped of crores of rupees through deceptive online schemes.

The group exploited social media platforms, mobile applications, and encrypted messaging services to lure victims with false promises of high returns from online investment and part-time job opportunities.

The gang, which also comprised foreign nationals, created a complex network of shell companies across India, primarily in Bengaluru, to channel and launder the proceeds of crime, the CBI has alleged.

"Several unsuspecting individuals were deceitfully appointed as directors in these companies under the guise of part-time employment in e-commerce or fintech operations," the agency said in a statement.

The CBI, in its investigation so far, found that the operatives devised a sophisticated modus operandi involving the use of digital advertisements, bulk SMS campaigns, and SIM Box communication systems to promote fraudulent schemes.

"They recruited individuals through Telegram, WhatsApp, and social media platforms, collecting KYC documents to create fake profiles and companies.

"Using forged credentials and fraudulently obtained digital signatures, they incorporated multiple shell companies and opened numerous bank accounts in their names to collect funds from victims," the spokesperson said.

These funds generated through various scams were funnelled through various payment gateways, UPI platforms, and crypto currency exchanges to obscure the money trail, she said.

"Large portions of the proceeds were converted into crypto currency, gold, or remitted abroad through clandestine channels. It has also been established that several Indian nationals were operating under the direction of foreign-controlled entities involved in illegal online gambling and investment fraud operations," the agency said.

The CBI traced the money trail to accounts associated with these entities, indicating an extensive transnational cyber fraud network.

The agency is on a trail to identify and apprehend other accused, including foreign nationals, and to trace and freeze the proceeds of crime routed through domestic and international financial systems.

"This case forms part of the ongoing "Operation Chakra V," aimed at dismantling transnational cyber-enabled fraud networks operating across multiple jurisdictions," the spokesperson said. PTI ABS NSD NSD