A major cyber fraud and suspicious financial transaction network has been uncovered in Siwan, where police have arrested a 21-year-old youth, Shahid Ali, following a raid at a shop in Hafiji Chowk under Nagar police station limits. Authorities said that transactions worth more than ₹2 crore have surfaced over the past one year through multiple bank accounts linked to the accused and his family members, raising serious concerns over a possible organized financial crime network.
According to police sources, several bank accounts operated in the names of Shahid Ali and his relatives were found to be involved in continuous high-value transactions. These accounts were opened across multiple banks, including Axis Bank, Punjab National Bank, HDFC Bank, State Bank of India, Central Bank of India, and ICICI Bank. Investigators believe these accounts were being used to route and layer suspicious funds to conceal their origin.
During the raid, police recovered key documents including bank passbooks, cheque books, Aadhaar cards, PAN cards, along with three Android mobile phones and SIM cards. Officials said all seized digital devices have been sent for forensic examination to retrieve call records, chat histories, and transaction data to reconstruct the full financial trail of the network.
Preliminary investigation indicates that Shahid Ali was acting under the instructions of his maternal uncle, Irfan Ahmed alias Monu. Police suspect that cash was being collected from different parts of the country through Cash Deposit Machines (CDMs) and then transferred into multiple bank accounts. Authorities estimate that nearly ₹30–40 lakh in cash was being routed through the network every month.
Investigators further revealed that Shahid Ali was allegedly receiving a commission of ₹600 per ₹1 lakh transferred, suggesting a structured and organized financial arrangement. Officials believe the system was designed to obscure the origin of money through multiple layers of transactions across different accounts.
Police also noted that despite handling large sums of money, no Income Tax Returns (ITR) were filed by the accused, further deepening suspicion about the legitimacy of the financial activities.
Based on the findings, an FIR has been registered against Shahid Ali, his mother Nishha Fatma, father Mohammad Zakir, and maternal uncle Irfan Ahmed alias Monu. Authorities are now investigating whether the funds are linked to cyber fraud, hawala operations, or other forms of illegal financial activities.
Officials said the primary focus of the ongoing probe is to trace the source and destination of the funds and identify other individuals connected to the network. Bank records, mobile data, and digital evidence are being thoroughly analyzed to establish the full extent of the operation.
Police believe the case may be part of a larger organized cyber and financial crime syndicate. Further arrests are expected as the investigation progresses and the forensic analysis of seized digital devices continues.
