The Delhi Police’s Intelligence Fusion and Strategic Operations unit has arrested five individuals, including a private bank relationship manager, in connection with an interstate cyber fraud of Rs 12.84 crore siphoned from the corporate account of non-banking financial firm Hero FinCorp. The fraudulent operation involved 317 unauthorised digital transactions routed into 34 distinct accounts, following which Rs 1.70 crore was traced and frozen across various bank facilities. The crime was detected after Hero FinCorp received an automated security alert from its lender regarding suspicious corporate account activity, prompting an FIR and an immediate probe by specialised cyber investigators.
The financial trail revealed that money received in domestic accounts was promptly converted into cryptocurrency, primarily USDT, and moved to international handlers coordinated via Telegram. A total of Rs 12,84,09,997 was siphoned through layered transfers managed by designated account suppliers and operators functioning on commissions.
Remote Device Takeover via Malicious Application
A key element of the operation involved deploying a rogue APK file onto the mobile device of an accused individual, granting external operators complete remote access over his linked banking facilities. Investigators stated that the individual was lodged in a Delhi hotel while his accounts served as initial transit channels for the diverted corporate funds.
The arrested private bank relationship manager allegedly facilitated accounts under false identities and established direct linkages between account providers and overseas syndicate handlers. Substantial transaction volumes were routed through these avenues, with two accounts registered under one accused receiving over Rs 1.10 crore in fraudulent proceeds. One of these specific accounts was linked to 43 cybercrime complaints logged across India. In other instances, approximately Rs 80 lakh was credited to another account, while Rs 60,000 sent to a third account was withdrawn immediately via an ATM.
Interstate Coordinated Raids Lead to Key Arrests
Coordinated police raids across Rajasthan, Haryana, and Uttar Pradesh culminated in five arrests, encompassing banking personnel and ground facilitators who sourced and operated fraudulent bank channels. Investigative teams recovered five mobile phones, bank cheque books, and a business rubber stamp from the possession of the accused. The seized items are undergoing digital analysis to map out additional accounts, transaction pathways, and associated operatives.
Commenting on the breach mechanisms, cybercrime expert and former IPS officer Prof. Triveni Singh stated that once an unauthorised APK gains control of a mobile handset, sensitive banking applications, incoming text messages, and authentication processes become entirely exposed. He noted that regular security measures such as withholding one-time passwords prove ineffective once a malicious application establishes backend device control.
Focus Shifts to Uncovering Overseas Crypto Trails
Specialised units are currently investigating how the network secured initial access to Hero FinCorp’s primary corporate banking framework. Police are examining operational links connecting regional money handlers to key cyber syndicates managing crypto transfers from foreign jurisdictions.
Further forensic assessments of recovered electronic hardware and sustained custodial interrogation of the arrested suspects are expected to reveal the complete scale of the network, additional beneficiary accounts, and other commercial targets compromised by the ring.
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