Rajasthan’s Ajmer Cybercrime Police have arrested a man in Delhi in connection with an alleged ₹6.50 lakh cyber fraud carried out in the name of insurance policy renewal. The accused has been identified as Vikas Kumar. Police allege that he worked with other associates to deceive an Ajmer resident on the pretext of renewing an insurance policy and routed the fraud proceeds through a bank account linked to a purportedly fake firm.
According to police, the investigation began after a complaint was received regarding the alleged fraud. Investigators traced the bank transactions involving the money transferred by the victim and identified the account holders who received the funds. Based on banking records and other technical evidence, a police team travelled to Delhi and arrested Vikas Kumar.
Bank Account Opened in the Name of a Fake Firm
During preliminary questioning, police allegedly found that Vikas Kumar had arranged for a bank account to be opened in the name of IGMS Corporation, purportedly a clothing business registered in the name of Suryansh. Police suspect that the account was used to receive money obtained through cyber fraud and subsequently transfer it to other bank accounts.
According to the investigation, Suryansh was allegedly paid ₹500 per day for providing the bank account. Police are now examining how long the account had been used and the total volume of transactions conducted through it.
Investigators are also examining the actual purpose for which the firm and its bank account were created and whether other bank accounts and financial channels were connected to the alleged operation.
Accused Allegedly Kept 10% of Fraud Proceeds
Preliminary investigation has allegedly revealed that Vikas Kumar retained around 10% of the money received through the alleged policy renewal scam. The remaining amount was reportedly transferred to the bank accounts of Amrit, Asif and other alleged associates.
The financial trail has raised suspicion of an organised cyber fraud network. Investigators are now trying to establish who directed the movement of funds between different accounts and how many people were involved in the alleged operation.
Suspects Brought to Ajmer for Questioning
According to police, Vikas Kumar, along with Suryansh, Amrit and Asif, has been brought to Ajmer for questioning. Investigators are questioning the suspects about the alleged fraud network, the use of bank accounts and the movement of the money.
Police are also trying to determine whether the group had previously targeted other people by promising insurance policy renewals or offering assistance related to insurance and other financial services. Bank transactions and digital evidence are being examined to identify possible links with earlier cyber fraud complaints.
Money Trail May Reveal Wider Network
Third-party or mule bank accounts are often used in cyber fraud cases to receive and move stolen funds through multiple accounts. In this case, investigators are focusing on the alleged money trail to identify the ultimate beneficiaries and determine how the proceeds were distributed.
Police are examining how the suspects allegedly contacted the victim, how they established credibility by using the policy renewal pretext and which accounts were used to move the money after it was received.
Investigators are also looking for other individuals who may have been involved in the alleged network. Further action will be based on questioning of the suspects, bank records and other technical evidence.
Police expect that analysis of the financial transactions and digital evidence could provide further leads about the extent of the alleged cyber fraud network and reveal whether the accused were involved in similar cases elsewhere.
