Inter-state cyber fraud ring busted; two arrested with suspected ₹56 billion scam

Cyber police in Kanpur have arrested two members of an inter-state criminal syndicate accused of orchestrating investment frauds through fake companies and networks of fraudulent bank accounts. The arrests mark a significant breakthrough in tracking an organized scheme that defrauded victims across multiple states.

Police recovered ₹65.26 lakh in cash along with electronic devices during the operation. Investigation records indicate the suspected criminal network amassed approximately ₹5,600 crore through these illicit channels. Authorities identified 72 suspicious bank accounts linked to the operation, with transaction patterns suggesting coordinated fraud activities spanning the entire country.

The investigation has connected the arrested suspects to at least 86 separate cyber fraud complaints filed by victims from various states. Police say the criminals lured investors with promises of high returns on fake investment schemes. The fraudsters reportedly created multiple shell companies to establish credibility and facilitate fund transfers.

Further investigations are underway to identify additional members of the network and trace the flow of illicit funds. Authorities have launched a nationwide coordination effort to consolidate related cases and identify other potential victims. Police are urging citizens to verify company credentials and banking details before making investment decisions.