CBI Busts International Cyber Fraud Syndicate in Major Operation

In a significant international crackdown, the Central Bureau of Investigation (CBI), with assistance from the Federal Bureau of Investigation (FBI), has successfully dismantled a major cyber fraud syndicate that had been operational since 2022. This syndicate primarily targeted foreign nationals, defrauding them under the pretense of providing technical support services.

The CBI's operation led to the arrest of the network's key operator, Vishnu Rathi, who was apprehended in Mumbai. Authorities seized gold worth Rs 3.70 crore and Rs 16 lakh in cash from his residence, indicating the scale of the illicit activities. This joint effort highlights the growing cross-border cooperation between international agencies in tackling cybercrime, which has been on the rise globally.

The cyber fraud ring dismantled by the  CBI where they were targeting foreigners by impersonating technical cyber support personnel. One notable case involved an American citizen, who was contacted by the syndicate between June and August 2022. The fraudsters posed as bank officials and deceitfully claimed that the victim's bank account had been compromised and offered assistance in resolving the issue. Using this pretext, the syndicate convinced the victim to transfer a total of USD 4,53,953 (equivalent to Rs 3.70 crore) to cryptocurrency wallets controlled by the fraudsters.

During a raid at Rathi’s residence, CBI agents recovered 57 gold bars, each weighing 100 grams, Rs 16 lakh in cash, a mobile phone, a laptop, and incriminating documents such as locker details. The laptop, which was used for managing cryptocurrency transactions, is currently being analyzed for further evidence.

The CBI, in collaboration with INTERPOL, is actively coordinating with the Federal Bureau of Investigation (FBI) and other international law enforcement agencies to track down more victims and trace the proceeds of the cyber fraud. The illicit funds, which were laundered through virtual assets such as cryptocurrency and gold bullion, are being meticulously followed to dismantle the financial network supporting the syndicate.

The fraudsters employed sophisticated methods to convert their ill-gotten gains from cryptocurrencies into tangible assets, such as gold, making the funds harder to trace. This global investigation aims to uncover the full extent of the cyber fraud ring’s operations, recover stolen assets, and provide justice to victims in multiple countries. By working closely with international authorities, the CBI is taking significant steps to break the syndicate’s network and prevent future occurrences of similar cyber fraud schemes.

The CBI has formally registered a case against Vishnu Rathi and his associates, charging them under several sections of the Indian Penal Code (IPC) and the Information Technology Act.