Ahmedabad Cyber Fraud Network Busted: ₹2.9 Crore Scam Cracked, Three Arrested

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Gujarat Police detained three individuals linked to a cybercrime syndicate that facilitated the laundering of over ₹2.9 crore through fraudulent financial mechanisms.

Key Details of the Operation

The operation, conducted by the Gujarat Cyber Centre of Excellence (CCoE), involved the dismantling of a network that allegedly coordinated with organized cybercriminal groups across 18 states.

The accused, identified as Nikunj Patel, Dikshit Patel, and Sumit Soni, were apprehended following raids at locations on Ashram Road and in the CTM area of Ahmedabad.

The Network’s Operations

Investigators revealed that the group established two shell companies to open corporate bank accounts with elevated transaction limits, enabling the rapid movement of illicit funds.

These accounts were used to disperse stolen money across multiple mule accounts before detection, circumventing standard fraud prevention measures.

A total of 72 mule bank accounts were traced, with 22 already active for laundering activities. The remaining 50 accounts were seized during the raids, preventing their deployment.

Connections to Cyber Fraud Cases

The network was connected to 54 reported cyber fraud cases nationwide, including incidents in Gujarat, Bihar, Karnataka, and Maharashtra.

Specific cases included a ₹93 lakh online banking scam in Bihar, a ₹70 lakh fake investment scheme in Karnataka, and a ₹38 lakh digital extortion case in Maharashtra where perpetrators impersonated law enforcement to extract payments.

Financial Infrastructure and Tools

Nikunj Patel was reportedly responsible for managing the financial infrastructure, while the syndicate utilized merchant payment gateways to obscure the origins of illicit funds.

Additionally, a suspicious Android application named DOTP.APK was discovered, which allegedly intercepted one-time passwords (OTPs) from compromised devices, enabling unauthorized transactions.

Investigation and Recovery

During the raids, law enforcement recovered a laptop, six mobile phones, eight cheque books, 31 debit and credit cards, and various banking documents.

Forensic analysis of the seized devices aims to identify further network members, trace financial flows, and establish connections between interstate operations.

Cybersecurity experts highlighted the growing trend of organized crime leveraging shell companies and corporate banking systems to launder proceeds, bypassing traditional personal account monitoring.

Recommendations include stricter know-your-customer (KYC) protocols, enhanced surveillance of corporate transactions, and improved detection of irregular financial activity.

Gujarat Police confirmed that two additional suspects remain at large, with ongoing investigations focused on analyzing digital evidence and banking records to identify other participants and trace the ultimate beneficiaries of the laundered funds.