India’s anti money laundering agency, the Enforcement Directorate, is currently investigating 234 cyber fraud cases linked to online gambling platforms, fake investment apps, loan scams, forex trading frauds and illegal call centre operations. Officials have identified suspected proceeds of crime worth ₹34855 crore. The action marks one of the largest crackdowns on organised digital financial crime networks operating across multiple states and international jurisdictions.
Under the provisions of the Prevention of Money Laundering Act, assets worth ₹12230 crore have been attached. The agency has arrested 141 accused persons and filed 93 prosecution complaints before designated special courts. In several cases, convictions have already been secured. Authorities believe these cases point to a coordinated ecosystem involving fraudsters, technical experts, financial operators and overseas facilitators working together.
Investigators have also flagged alleged cryptocurrency based remittances to China. According to officials, money generated through fraudulent schemes was converted into digital assets using informal crypto brokers. The funds were layered through complex transaction chains and then transferred abroad. In some instances, the money was masked as payments for under invoiced imports. In other cases, authorities suspect that funds were routed back into India as foreign investments, adding more layers of financial opacity and making tracing more difficult.
The probe has revealed a structured and technology driven modus operandi. Fraud networks allegedly created hundreds of shell companies and mule bank accounts to move funds quickly. Merchant category codes were manipulated to present illegal gambling platforms and fraudulent trading apps as legitimate businesses. Victims were targeted through social media advertisements, messaging applications and impersonation calls, including “digital arrest” tactics to create fear and urgency. Funds were rapidly fragmented and layered across accounts, complicating recovery efforts. The investigation underlines the growing link between cybercrime and money laundering in India’s expanding digital economy, with enforcement agencies expected to intensify scrutiny of suspicious transactions, crypto exchanges and cross border fund flows.
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