The Mumbai Crime Branch has busted an alleged cyber fraud network involving transactions worth around ₹500 crore and arrested 12 accused persons. According to the police, the accused allegedly processed suspicious transactions worth approximately ₹500 crore from Goa over the past six to eight months. The investigation has also indicated possible links between the network and an alleged international syndicate operating from Dubai. All 12 arrested accused are aged between 20 and 25 years and have been remanded to police custody until August 11, 2026.
The investigation found that bank accounts were allegedly opened in Mumbai for use by the network. Banking documents and other related material were then transported to Goa by bus. The accounts were allegedly used to deposit and withdraw funds and transfer money between multiple bank accounts. According to investigators, the accused were operating from a rented two-storey villa known as ‘Case De Nikole Villa’ near Calangute beach in Goa.
Most of the arrested accused were allegedly recruited from Ahmedabad and Rajkot in Gujarat. Police said they were given 10 to 15 days of training before being sent to the Goa facility. The accused allegedly received a monthly salary of ₹30,000 along with a 3% commission based on the transactions they handled. Investigators suspect that the recruits were trained in banking procedures and digital transactions before being assigned to manage money-transfer operations.
According to the police, the accused allegedly used online platforms such as ‘100 Panel’ and ‘Rudra’ to process funds linked to online gaming and cybercrime. Investigators suspect that money generated through cyber offences, including digital arrest scams, may also have been routed through the network. The accused allegedly operated bank accounts using laptops and mobile phones and controlled the withdrawal and transfer of funds through these devices.
During the operation at the villa, the Crime Branch recovered 15 laptops, 128 ATM cards, 89 mobile phones, 76 SIM cards, 22 cheque books, 77 passbooks, six routers, three keyboards and two computer mice. Police also found that the accused allegedly maintained a separate ledger recording their transactions. Investigators believe the ledger could provide crucial leads about the movement of funds and help identify additional bank accounts and individuals connected to the network.
According to the police, between ₹15 crore and ₹100 crore held in bank accounts linked to the network has either been frozen or is in the process of being frozen. Some of the seized bank accounts were reportedly linked to 83 cyber fraud complaints registered from different parts of the country through the cybercrime helpline 1930. This has raised suspicion that the network was not restricted to a particular city or State and may have been used to route proceeds of cybercrime across multiple jurisdictions.
The initial case was registered at Pydhonie Police Station. Investigators subsequently began questioning the arrested accused to establish their links with higher-level operators and identify the alleged masterminds behind the network. The police are now examining the source of the bank accounts, the procurement of laptops and other digital devices, and the accused persons’ possible overseas connections. Forensic examination of the seized devices is also expected to provide further details about the network.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said such networks often recruit young people, provide them with limited training and assign them responsibility for handling bank accounts, digital devices and financial transactions, while the actual operators remain behind the scenes. He said the recovery of a large number of bank accounts, ATM cards, SIM cards and digital devices indicates that the case may involve more than simple misuse of bank accounts and warrants a detailed investigation into the organised money-mule network.
The accused were produced before a local court, which remanded them to police custody until August 11, 2026. Investigators are now working to determine how much of the alleged ₹500 crore in transactions originated from cybercrime, which accounts received the funds and the exact nature of the suspected connection with the Dubai-based international syndicate.
