₹2500 Crore Cyber Fraud Case Unfolds in Rajkot, 20 Arrested Including Bank Officials

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Cyber Scammers Uncovered in Rajkot: ₹2,500 Crore Operation Exposes Widespread Network

Law enforcement officials in Gujarat’s Rajkot district have uncovered a massive cyber fraud scheme, resulting in over ₹2,500 crore in suspicious transactions.

Investigation Reveals Complex Web of Financial Dealings

The investigation, codenamed “Operation Mule Hunt,” has led to the arrest of 20 individuals, including three bank officials, for their alleged roles in facilitating the creation and operation of fraudulent bank accounts.

According to authorities, the probe began with an initial estimate of ₹1,500 crore in suspected transactions, but it has since expanded to reveal a complex web of financial dealings.

Bank officials played a crucial role in enabling the scheme by opening and maintaining suspicious bank accounts, which were then used for cyber scams. Despite receiving suspicious transaction alerts, these accounts remained active due to additional documentation and procedural manipulation.

According to police investigations, the network was operated by individuals using fake identities to create bank accounts, which were subsequently used for large-scale cyber scams. These scams included digital arrest frauds, fake loan offers, and investment schemes targeting victims across India.

The network had a complex structure, with agents operating across multiple states and utilizing agricultural or business-related documents to disguise the illicit activities.

Fraudulent Accounts and Hawala Channels Used for Laundering

Police investigations revealed that the network was operated by individuals using fake identities to create bank accounts, which were subsequently used for large-scale cyber scams.

Digital arrest frauds
Fake loan offers
Investment schemes targeting victims across India

To date, investigators have identified 85 bank accounts directly linked to the cyber fraud operation, along with 535 related complaints.

Victims Targeted Through Various Means

Victims reported being targeted through various means, including fake calls, phishing links, and coercive investment schemes.

Law enforcement agencies have arrested 20 individuals, including bank officials, agents, and account operators, with more arrests expected as the investigation continues.

Financial forensic teams and cyber experts are working to analyze fund flows and identify additional members of the network.

Broader Organized Cybercrime Ecosystem Operating Across India

Authorities emphasize that this case is part of a broader, organized cybercrime ecosystem operating across India, highlighting vulnerabilities in banking systems and the misuse of financial infrastructure for illicit activities.