Delhi Police are increasingly focusing on Chinese handlers believed to be the masterminds behind a growing number of cyber fraud cases in the country. Recent investigations have revealed intricate networks where individuals in India are used to lure victims, transfer funds, and convert them into cryptocurrency, which is then routed to handlers based in China.
Several cases highlight the modus operandi of these cyber fraud networks. In one instance, a Delhi resident was defrauded of ₹64.75 lakh after being lured into investing in fake IPOs and stock trading through a bogus platform. The Intelligence Fusion and Strategic Operations (IFSO) Unit of the Delhi Police's Special Cell uncovered that the accused were receiving commissions in USDT, a stable cryptocurrency, via foreign wallets on Binance, a global crypto exchange. This led to the arrest of two individuals, one of whom was linked to Chinese cyber networks.
Another case involved a retired army officer who was duped of ₹41.45 lakh under the guise of high returns through digital gold trading. The investigation revealed that the fraudsters were in contact with Chinese nationals through a messaging application. They operated a multi-layered fraud, sourcing mule bank accounts and facilitating fund transfers to foreign handlers. The proceeds were then converted into USDT and transferred abroad, effectively evading Indian enforcement agencies.
In a recent operation, Delhi Police dismantled a cyber scam network where individuals were promised money for writing fake hotel reviews. A complainant was defrauded of over ₹15 lakh after being lured with initial small payments. The accused would convert the defrauded money into USDT within 20 minutes of receiving it and transfer it to the crypto wallet of a Chinese national, with whom they were in contact via Telegram. This led to the arrest of three individuals from Jaipur.
These cases reveal a pattern: victims are often contacted through social media or messaging apps like WhatsApp and Telegram. They are enticed with offers of easy money, such as writing online reviews or investing in lucrative schemes. Initially, small payments or profits are shown to gain the victim's trust. Once trust is established, the victims are persuaded to invest larger sums, which are then siphoned off through a network of bank accounts and cryptocurrency transactions.
The investigation into these cyber fraud networks is ongoing, with the Delhi Police working to identify more linked accounts and collaborators both in India and abroad. The use of cryptocurrency and encrypted messaging apps makes it challenging to trace the funds and identify the masterminds behind these scams. However, the Delhi Police's continued efforts are crucial in combating these cybercrimes and protecting citizens from falling victim to these sophisticated fraud networks with Chinese links.
