While tracing the money trail in a ₹2.66-crore investment scam, police uncovered a well-organised cybercrime syndicate that had secured Corporate Internet Banking (CIB) facilities with the bulk payout feature enabled.The gang comprises hackers who send APK files, software coders and banking experts, police said. (FOR REPRESENTATION)Two men allegedly linked to the gang were arrested on Friday, with police indicating that more arrests were likely in the coming days. The syndicate was linked to 38 complaints filed on the National Cyber Crime Reporting Portal from at least 10 states and seven FIRs registered in Delhi, Odisha, Tamil Nadu and Punjab.Police commissioner Raghubir Lal said this was the first time a criminal gang had been found using CIB facilities with the bulk payout feature to transfer money obtained through cyber fraud. The ₹2.66 crore siphoned off in Kanpur was routed to 89 bank accounts held in the names of individuals and firms, he said.Businessman Mohammad Ahmad Lari had lodged an FIR alleging that a company named Finsol Private Limited approached him through WhatsApp with investment offers. The company later turned out to be fake, operating only through a website. Lari began investing through the platform, which displayed substantial returns and showed his investments had grown to ₹9.74 crore.However, when he tried to withdraw the money, he was asked to pay ₹30 lakh under various heads.Lal said the investigation led police to a bank account belonging to a firm into which part of the defrauded money had been deposited. The account was operated by Akhil Chauhan and Satyendra Yadav alias Tony. Further scrutiny revealed several suspicious transactions, leading to the arrest of both men.Interrogation of the accused has revealed a multi-layered cybercrime syndicate operating from Mumbai, with key players based in Kolkata who are proficient in Python programming, Lal said. “We have managed to obtain some names, and the investigation is progressing in the right direction,” he added.The gang comprises hackers who send APK files, software coders and banking experts, police said.In one instance, the gang repeatedly lodged complaints against a private bank manager after the bank sought the firm’s balance sheet before approving CIB facilities with the bulk payout feature. The gang also allegedly procured forged invoices claiming the purchase of mustard oil worth ₹1.50 crore from a company in Uttarakhand.
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