A well-organized cyber fraud racket that lured people with promises of bank loans and benefits from government schemes has been busted, with seven accused arrested so far. Three more suspects from Lucknow, Varanasi, and Bhadohi remain on the run.
Gang Targets Vulnerable Victims
Investigations reveal that the gang operated in a systematic manner, primarily targeting unemployed and financially vulnerable individuals. The accused would promise to facilitate loans or secure benefits under government schemes, and in the process, collect Aadhaar cards and other essential documents from victims. Using these, they either opened new bank accounts or gained access to existing ones.
Once the accounts were secured, the accused retained control over passbooks, ATM cards, cheque books, and SIM cards. These accounts were then used to route and withdraw funds obtained through cyber fraud. In several cases, account holders were offered commissions in exchange for allowing the use of their bank accounts.
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Teacher’s Account Misuse Exposed Racket
The case came to light after a school teacher filed a complaint regarding misuse of his bank account. During the probe, it was found that the accused had taken possession of his account credentials, ATM card, cheque book, and SIM card, and carried out suspicious transactions worth lakhs of rupees. The fraud was discovered only after the account was frozen.
Further investigation led authorities to identify at least 10 such bank accounts through which large-scale transactions had taken place. Officials suspect that the number of victims could be significantly higher, and efforts are underway to trace them.
During raids and interrogation, authorities recovered 10 mobile phones, one tablet, two laptops, eight forged seals, 28 signed cheques, four passbooks, three ATM cards, and two cheque books from the accused. The recovery indicates that the gang was fully equipped to create forged documents and execute financial fraud operations.
Fake Loans via Forged Documents
The probe also uncovered that the accused facilitated loans using fake documentation. Forged stamps related to revenue and other departments were seized, which were used to prepare land records and other papers required for loan approvals. Authorities are now examining how many such fraudulent loans were processed by the gang.
Those arrested have been identified as Dhruv Sahani, Suraj Singh, Ajay Upadhyay, Akhand Pratap Singh, Brijendra Kumar Singh, Abhishek Kumar Yadav, and Amar Kumar Nishad. Investigators believe the network extends across multiple districts and possibly other states, with efforts ongoing to track down the remaining accused.
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said, “In such cases, cyber criminals rely on social engineering tactics. They lure individuals with financial benefits, gain access to their banking credentials, and then use those accounts for money laundering and fraudulent transactions.”
He advised the public to never share bank account details, ATM cards, or personal documents with unknown individuals under any circumstances.
With the bust of this racket, authorities have exposed a significant cyber fraud network. Further investigation is underway to identify the full extent of the operation and bring all those involved to justice.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
