Karnataka Police Cracks Down on ₹82 Crore Cyber Fraud Ring Across India

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India’s Karnataka State Sees Major Crackdown on Cybercrime Ring

In a significant development, the Karnataka Police have dismantled a large-scale cybercrime operation, arresting three individuals suspected of orchestrating a nationwide scam that resulted in estimated losses of over ₹82 crore. The arrests were made following 352 complaints filed with the authorities.

Mastermind and Accomplices Arrested

The alleged mastermind behind the operation, Jagadish C, a 43-year-old electronics trader from Shivamogga, was taken into custody along with two accomplices, Arshad and Ananth T. According to investigators, Jagadish lured victims with promises of lucrative commissions, persuading them to open bank accounts that he would later take control of. He would then use these accounts to facilitate large-scale fraudulent transactions, often impersonating the account holders.

Modus Operandi and Estimated Losses

The investigation revealed that the suspects used a network of 15 “mule” bank accounts to funnel illicit funds, with over ₹14.71 crore routed through these accounts. The total estimated amount siphoned off in the scam is believed to exceed ₹82 crore, spread across multiple complaints filed across the country.

Seizure of Digital and Financial Instruments

In addition to the arrests, the police seized several digital and financial instruments linked to the alleged fraud, including mobile phones, ATM cards, QR code scanners, and Airtel SIM cards. The accused were booked under relevant sections of the Information Technology Act and the Bharatiya Nyaya Sanhita (BNS) for their involvement in the scam.

The Karnataka Police have warned citizens to exercise caution when dealing with unsolicited offers, particularly those involving commissions or requests to open bank accounts. Such tactics are commonly employed by cybercriminals to divert funds through accounts held in others’ names, thereby concealing illegal transfers.

Call to Action

The authorities have encouraged potential victims or anyone with information relating to the scam to come forward and file complaints on the national cybercrime portal or through the toll-free helpline 1930. Cybercrime experts emphasize that timely reporting is crucial for tracking financial flows and increasing the chances of recovering stolen funds.

Significance of the Crackdown

The crackdown on the cybercrime ring is a significant development in Karnataka, which has reported over 57,000 cybercrime cases in the past three years, with Bengaluru emerging as a major hub for such activities. The incident highlights the need for increased vigilance and cooperation between law enforcement agencies and the public to combat the growing threat of cybercrime.