Bengaluru, Oct 14 (IANS) The Central Bureau of Investigation (CBI) has conducted coordinated searches at multiple locations across Karnataka, Tamil Nadu and Kerala in connection with a case related to a large-scale organised cyber-enabled part-time job and investment fraud, officials said on Tuesday.

During the operation, three persons have been arrested, the official statement said.

The CBI had registered this case on the inputs given by Indian Cybercrime Coordination Centre (I4C) established under the Ministry of Home Affairs (MHA).

It has also been established that several Indian nationals were operating under the direction of foreign-controlled entities involved in illegal online gambling and investment fraud operations.

Substantial financial flows were traced to accounts associated with these entities, indicating an extensive transnational cyber fraud network.

In this case, thousands of innocent citizens across India were allegedly cheated of crores of rupees through deceptive online schemes.

The fraudulent network, comprising both Indian and foreign nationals, exploited social media platforms, mobile applications, and encrypted messaging services to lure victims with false promises of high returns from online investment and part-time job opportunities.

The investigation has revealed that the accused persons and their aides created a complex network of shell companies across India, primarily in Bengaluru, to channel and launder the proceeds of crime.

Several unsuspecting individuals were deceitfully appointed as directors in these companies under the guise of part-time employment in e-commerce or fintech operations.

The fraudsters, including foreign operatives, devised a sophisticated modus operandi involving the use of digital advertisements, bulk SMS campaigns, and SIM Box communication systems to promote fraudulent schemes.

They recruited individuals through Telegram, WhatsApp, and other social media platforms, collecting KYC documents to create fake profiles and companies.

Using forged credentials and fraudulently obtained digital signatures, they incorporated multiple shell companies and opened numerous bank accounts in their names to collect funds from victims.

The investigation has also revealed that the collected funds were layered and diverted through various payment gateways, UPI platforms, and crypto currency exchanges to obscure the trail of money.

Large portions of the proceeds of crime were converted into crypto currency, gold, or remitted abroad through clandestine channels.

The CBI continues to pursue further leads to identify and apprehend other accused persons, including foreign nationals, and to trace and freeze the proceeds of crime routed through domestic and international financial systems.

This case forms part of the ongoing “Operation Chakra V,” aimed at dismantling transnational cyber-enabled fraud networks operating across multiple jurisdictions, the CBI statement said.

–IANS

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