Navi Mumbai : Amid India’s growing enthusiasm for online trading and investment, the Navi Mumbai Police have uncovered an international cyber fraud racket with links traced to China and Cambodia. In a major breakthrough, the police have arrested seven individuals accused of duping investors by promising high profits through fake stock market trading schemes.
118 Bank Accounts Frozen, Lakhs of Rupees Secured
Following the investigation, the Cyber Crime Branch has frozen 118 bank accounts spread across several Indian states.
Funds amounting to several lakh rupees have been secured from these accounts, believed to be connected to the fraudulent transactions.
According to officials, the recovered amount represents only “the tip of the iceberg” of a much larger fraud network operating across the country.
Victim Defrauded of ₹1.07 Crore; Social Media Used as a Trap
The case came to light when an investor filed a complaint claiming he had lost ₹1.07 crore.
The cybercriminals had launched social media advertisements under the name of “high-profit investment” promising substantial returns on share trading.
They used a fake mobile application that displayed illusory virtual profits to deceive investors.
Encouraged by these apparent gains, victims kept sending more money — but when they tried to withdraw their funds, the fraudsters vanished without a trace.
Cyber Network Linked to China and Cambodia
The investigation revealed that the gang was part of a wider international cyber network.
Three of the accused were found to be in constant contact with cybercriminals in China and Cambodia through the Telegram app.
Their primary role was to forward One-Time Passwords (OTPs) generated from Indian bank transactions to foreign handlers using a special application — a process commonly known as the “OTP forwarding system.”
This system has become a popular tool in large-scale international cyber fraud operations.
Massive Operation: 40 Hotels Raided Across Navi Mumbai
The Cyber Crime Branch conducted extensive searches at 35 to 40 hotels and lodges across Mahape, Vashi, APMC, Koparkhairane, and Sanpada areas of Navi Mumbai.
During the investigation, police first arrested Suresh Talekar (29) and his associate Vikas Awhad (30) from Pune.
The statement of a third suspect (still under investigation) revealed that he had met three unknown Hindi-speaking individuals at a Mahape hotel to hand over SIM cards and documents linked to several bank accounts.
Following this lead, the police raided a hotel in Vashi, where they arrested five more individuals connected to the crime. Their identities remain undisclosed as the investigation continues.
“Fast Profits” — The Biggest Weapon of Cyber Criminals
According to police officials, the most powerful weapon of these cyber fraudsters was the promise of quick and easy profit.
They manipulated victims psychologically with messages such as:
“Your investment has now doubled! Just add another ₹2 lakh to unlock your full profit.”
Through this emotional manipulation, victims were lured into investing even larger sums — until their entire savings disappeared.
Police Advisory: Stay Alert Against Online Investment Scams
The Navi Mumbai Police have urged citizens to stay vigilant against fraudulent investment or trading advertisements on social media and messaging apps.
Officials advised investors to independently verify the authenticity of any app, website, or investment advisor before making financial commitments.
“Be cautious before you click. Check the company’s registration, SEBI number, and credentials,”
warned a senior cybercrime officer.
Editorial Insight: Along with ‘Digital India’, We Need ‘Digital Vigilance’
India is rapidly entering an era of digital investment — but cybercriminals are evolving just as fast, often operating through coordinated networks across China, Cambodia, and Southeast Asia.
Experts warn that this case is a serious reminder of the growing threat of cross-border financial cybercrime targeting Indian investors.
To protect citizens and ensure trust in the digital economy, experts have urged RBI, SEBI, and CERT-In to jointly establish a National Cyber Investment Protection Framework — a unified system to detect and prevent online investment frauds.
