Mumbai Police Trace ₹24 Crore in Cyber Fraud Probe Through 10 Accounts

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Summary: Mumbai Police’s Crime Branch disrupted a cyber fraud operation involving thousands of SIM cards and multiple bank accounts, resulting in the arrest of three individuals and the tracing of ₹24 crore across 10 accounts.

Suspects and Arrests

The Crime Branch Unit 5 arrested three individuals: Islamuddin Salimuddin Sheikh, 44, Abdul Razzaq Rauf, 42, and Yasir Nasiruddin Sheikh, 26. They were detained following an investigation into a suspected cyber fraud network.

Investigation Details

Authorities are analyzing the financial and technical aspects of the case to identify beneficiaries and determine if the accused were part of a larger scheme. The investigation revealed transactions totaling approximately ₹24 crore across 10 accounts.

Operational Methods

The alleged operation involved creating bank accounts under the names of the accused, their associates, and third parties. These accounts were linked to multiple SIM cards, which were used to control banking instruments such as passbooks, ATM cards, and cheque books.

Seized Items

Police seized 88 bank passbooks, 143 cheque books, 100 ATM cards, 24 mobile phones, 167 SIM cards, two laptops, and additional documentation. Technical evidence suggests the suspects used 2,898 SIM cards for fraudulent purposes.

Case Registration and Custody

A case has been registered against the three suspects, who are currently in police custody until September 19. Ongoing analysis of digital and financial evidence aims to uncover the full scope of the network and identify potential accomplices.

Role of SIM Cards and Bank Accounts

Cyber fraud operations often rely on multiple accounts and communication devices to obscure financial trails. In this case, accounts were opened under the names of the accused, their associates, and third parties, linked to numerous SIM cards.

Public Awareness and Reporting

Mumbai Police’s 1930 cybercrime helpline, operational since May 2022, has received 32 complaints linked to the accounts under scrutiny. Victims are advised to report suspicious activity promptly to enable authorities to freeze illicit funds.

Preventive Measures

Individuals are urged to safeguard their SIM cards, bank accounts, ATM cards, passbooks, and cheque books from unauthorized access. Any suspicious transactions should be reported immediately via the 1930 helpline to prevent fund transfers.

According to Mumbai Police, the concentration of ₹24 crore through a limited number of accounts highlights the complexity of the financial trail. The investigation underscores the importance of coordinated efforts between law enforcement and financial institutions.

Conclusion

The case demonstrates the growing sophistication of cyber fraud schemes, emphasizing the need for vigilance, reporting, and advanced investigative techniques. Mumbai Police continue to strengthen their efforts to combat financial crimes and protect public interests.

FAQs

What is the role of SIM cards in cyber fraud?

SIM cards are used to create multiple online identities, enabling fraudsters to control banking instruments and obscure financial trails.

How can individuals report cyber fraud?

Victims can report suspicious activity via Mumbai Police’s 1930 cybercrime helpline, which facilitates coordination with banks to freeze illicit funds.