Mumbai: Crypto trail leads cops to cyber gang

The arrested cybercriminals were responsible for converting stolen money into digital currency. Representation pic/Istock

The Mumbai Cyber Branch has achieved a significant breakthrough in a digital arrest cyber fraud case. Typically, in such cases, the police apprehend the gang member (beneficiary bank account holder) whose account was used to transfer the defrauded money from the victims. However, this time, the Mumbai North Cyber Police has gone a step further, uncovering and arresting additional key members of the gang involved in the operation.

These cybercriminals were responsible for converting stolen money into digital currency, specifically cryptocurrency, and transferring it to their gang leader based abroad. This marks the first instance where the cyber police have targeted the entire fraud network and made progress toward apprehending the operation's kingpin.

The investigation began with a Rs 3.5 crore digital fraud case registered at the North Cyber Police Station in Mumbai. Police officials made a significant breakthrough by arresting not only the beneficiary account holder but also two individuals from Kozhikode, Kerala, who converted R90 lakh of the defrauded amount into cryptocurrency and transferred it to the gang leader's wallet abroad. The arrested accused have been identified as Anwarshad P S, 44; Amarshad K K, 28; and Mohsin C Y, 45.

Modus operandi

According to police sources, the complainant, a 58-year-old resident of Goregaon East, was living with his 85-year-old ailing mother who required regular medication. He had been importing some of these medicines via international courier for years.

In September, the complainant received a call allegedly from an international courier company, claiming that customs officials had flagged his shipment for containing suspicious items, including drugs. The caller further alleged that his Aadhaar card was linked to the package. To add credibility, the complainant was connected via video call to a man dressed as a senior police officer who introduced himself as an IPS officer. The impersonator claimed the matter required verifying the complainant's finances and instructed him to transfer money from his bank accounts, fixed deposits, shares, and other investments to specific accounts.

The complainant complied and ended up transferring approximately Rs 3.48 crore. The fraudster assured him that the money would be returned after the investigation. However, when weeks passed and the funds were not refunded, the complainant grew suspicious and approached the police.

Investigation and arrests

An investigation, launched under the guidance of senior officers, traced the money trail to accounts in Kerala. During the probe, it was discovered that R90 lakh had been transferred to an account in Kozhikode. A police team tracked down and arrested Mohsin, who, during interrogation, revealed the involvement of Anwarshad and Amarshad.

Anwarshad and Amarshad, who operated an international tour and travel business in Kozhikode, used their business as a cover for their fraudulent activities. They converted the defrauded money into cryptocurrency and transferred it to a wallet belonging to a person abroad. Unlike previous cases, where only the beneficiary bank account holders were arrested, this time, the cyber police successfully uncovered and apprehended other key members of the gang. They are now reportedly close to identifying and apprehending the mastermind behind the operation.

Legal action

All three accused were brought to Mumbai and produced before the court on Wednesday. The court has remanded them to police custody until November 30, as the investigation continues, said a senior officer. Under the guidance of DCP Datta Nalawade, the North Cyber team, led by PI Kiran Aher and API Sandeep Pachangne, along with the cyber team including Kiran Vasaikar, Habib Sayyed, and Sachin Sawant, busted this racket. The kingpin of the racket has been identified. Efforts are underway to apprehend him soon, said SI Suvarna Shinde of the North Cyber Police.