Indore: Two Arrested in Cyber Fraud Money Trail Investigation. Police in Indore, Madhya Pradesh, have arrested two people for allegedly helping route proceeds generated through cyber fraud across multiple bank accounts.
The accused have been identified as Deepak Rao and Gaurav Rathore. Preliminary investigation has reportedly found that more than ₹10 crore linked to suspected cyber fraud reached 10 bank accounts associated with the accused.
Police have also identified suspicious transactions worth more than ₹5 crore while examining the accounts. Investigators are now tracing the wider financial network and trying to identify other individuals allegedly involved in moving the money.
How the Alleged Money Network Operated
According to police, Gaurav Rathore allegedly arranged for money obtained through cyber fraud to be transferred into different bank accounts. Fraud proceeds were also allegedly routed through accounts belonging to Deepak Rao.
Investigators suspect that the accounts were used to receive and subsequently move money to other destinations. Gaurav allegedly received a commission for facilitating the transactions.
Deepak, who reportedly operates an egg cart, allegedly allowed his bank accounts to be used for the financial transactions under investigation.
Police are now examining whether the two accused acted only as intermediaries for moving money or had a wider role in the underlying cyber fraud operations.
Proposal for Conducting Cyber Crisis Drill, Tabletop Exercise (TTEx) & CCMP Readiness Exercise
11 ATM Cards and 8 SIM Cards Seized
During the investigation, police recovered four mobile phones, eight active SIM cards, documents relating to 10 bank accounts and 11 ATM cards from the accused.
The seized devices and financial documents are being examined to identify additional people connected to the alleged network.
Investigators are analysing mobile-phone data, including available contact and communication records, to determine who communicated with the accused and how the bank accounts and SIM cards were allegedly arranged and operated.
Cyber Fraud Links Across 13 States
The investigation has reportedly uncovered financial or case-related links extending beyond Madhya Pradesh.
According to police, connections have emerged with cyber fraud cases reported in Tamil Nadu, West Bengal, Gujarat, Uttarakhand, Delhi, Maharashtra, Rajasthan, Haryana, Jharkhand, Goa, Odisha, Uttar Pradesh and Bihar.
The involvement of 13 states has prompted investigators to examine whether the accused were operating as part of a larger interstate network.
Police are comparing the financial transactions associated with the accused with records of cybercrime cases registered in different states. Investigators are also trying to determine whether the accused merely provided bank accounts for receiving funds or participated in other stages of the alleged fraud.
Bank Accounts Under Financial Forensics
The complete transaction history of the 10 bank accounts is being examined.
Investigators are focusing on the movement of suspected fraud proceeds, including when money entered the accounts, how long it remained there and where it was transferred subsequently.
The presence of multiple ATM cards and active SIM cards has also raised questions about how the alleged financial network operated.
Police are attempting to establish who controlled the accounts, who had access to the ATM cards and whether different individuals were involved in withdrawing or transferring the funds.
₹5 Crore in Suspicious Transactions Under Scanner
The identification of suspicious transactions worth more than ₹5 crore has become a key part of the investigation.
Police are examining whether these transactions are directly connected to cyber fraud cases and whether they represent only part of the financial activity associated with the network.
Mobile-phone data and financial records could help investigators establish communication links between the accused and other suspected intermediaries.
The information obtained during questioning may also lead police to additional suspects involved in arranging bank accounts, SIM cards or other channels used to move the alleged proceeds.
Investigation Focuses on Complete Money Trail
The next phase of the investigation will focus on reconstructing the complete flow of money and identifying all individuals who allegedly facilitated the transactions.
Police are examining the wider network of bank accounts, mobile numbers and ATM cards and are comparing the financial trail with cyber fraud complaints from multiple states.
If the links are established, the investigation could reveal how cyber-fraud proceeds were allegedly collected, layered through different accounts and transferred to other destinations.
For now, the police investigation remains focused on establishing the individual roles of Deepak Rao and Gaurav Rathore, tracing the suspected ₹10 crore-plus money trail and identifying other members of the alleged interstate network.
Follow the Centre for Police Technology on LinkedIn to stay updated on the latest developments in policing, cybersecurity, digital forensics, investigations, fraud risk management, and technology-driven public safety.
Centre for Police Technology on LinkedIn
About the author — Ananya Aradhya writes on cybercrime, fraud, scams, cybersecurity, digital safety, and emerging threats. Her work also covers major criminal cases, financial frauds, consumer scams, and stories that highlight risks affecting people in the real and digital world.
