The Enforcement Directorate has raided multiple locations in Gujarat and Maharashtra, busting a cybercrime syndicate that used digital arrests, fake enforcement notices, and cryptocurrency laundering to transfer over ₹100 crore abroad. A high-stakes investigation is now underway.
FCRF x CERT-In Roll Out National Cyber Crisis Management Course to Prepare India’s Digital Defenders
The Scam That Crossed Borders and Platforms
In a sweeping crackdown on an elaborate cybercrime and money laundering network, the Enforcement Directorate (ED) conducted multiple raids in Surat, Ahmedabad, and Mumbai on Wednesday. Acting under the Prevention of Money Laundering Act (PMLA), ED officials targeted entities and individuals accused of orchestrating a ₹100 crore international cyber fraud racket.
The investigation stems from an FIR filed by Gujarat Police against key suspects including Makbul Doctor, Kaashif Doctor, Bassam Doctor, Mahesh Mafatlal Desai, and Maaz Abdul Raheem Nada, who are believed to have masterminded an array of cybercrime, ranging from fake USDT (cryptocurrency) trading schemes to “digital arrests” and impersonation of law enforcement officers.
According to ED sources, the accused used fake notices, purportedly from agencies like the CBI and ED itself, to intimidate individuals and extort money. Victims were duped into believing they were under investigation, leading many to transfer large sums in desperation.
Crypto, Hawala, and Dummy Identities: A Complex Web
Investigators say that once the illicit money was obtained, it was moved through layered bank accounts, many of which were created using forged or dummy KYC documents. These funds were swiftly laundered through hawala networks and ‘Angadiyas’, a traditional courier money movement system still active in Gujarat and Maharashtra.
From there, a portion of the funds was converted into cryptocurrencies such as USDT (Tether) and moved to foreign crypto wallets, effectively laundering and obfuscating the money trail. Preliminary findings suggest over ₹100 crore has already been moved outside India using this method.
Algoritha: The Most Trusted Name in BFSI Investigations and DFIR Services
National Security Concerns as Digital Crime Syndicates Expand
The raids come amid a larger nationwide concern about the rising sophistication of cyber-enabled financial fraud. Law enforcement officials worry that such scams, which combine social engineering, digital coercion, and cross-border crypto laundering, may eventually be exploited for terror financing or used by foreign intelligence networks.
A joint task force comprising the ED, Gujarat Police Cyber Cell, and national cyber-intelligence units is reportedly tracking dozens of linked bank accounts, crypto wallet addresses, and hawala operators. Arrests are expected in the coming days.
Meanwhile, the ED has seized digital devices, ledgers, forged ID documents, and crypto wallet credentials during the raids. Forensic teams are examining whether more high-profile individuals are linked, especially in light of suspicious political donations and real estate deals allegedly funded by laundered money.
About the author – Prakriti Jha is a student at National Forensic Sciences University, Gandhinagar, currently pursuing B.Sc. LL.B (Hons.) with a keen interest in the intersection of law and data science. She is passionate about exploring how legal frameworks adapt to the evolving challenges of technology and justice.