The Cyber Crime Branch on Wednesday arrested a key accused, Nizam, involved in an online share trading scam worth ₹9.35 lakh, while he was attempting to flee to Dubai from Calicut International Airport.
Police said Nizam, a resident of Kasargod district in Kerala, allegedly procured fake or mule bank accounts in India and sold them to cybercriminals operating from the UAE, earning commissions in UAE currency.
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Additional DCP (Crime) Shailendra Singh Chauhan stated that Mohd Zainul, a resident of Koh-e-Fiza, had filed a complaint alleging share trading investment fraud through the PMHDFC app, involving Karan Birla. Investigations revealed that the defrauded money was transferred across multiple bank accounts and withdrawn via ATMs in Dubai.
Using technical analysis of WhatsApp numbers, mobile apps, and banking trails, the cyber crime team tracked the real users behind the accounts. Acting on this intelligence, Nizam was arrested at Calicut Airport, and authorities seized one passport, one mobile phone, and one SIM card from his possession.
Chauhan added that 12 other accused had already been arrested from Kerala and Maharashtra in connection with the same racket. Efforts are ongoing to trace and apprehend other interstate and international members of the cyber fraud gang.
Modus Operandi
Police said the gang lured victims with fake messages promising high returns on stock market investments. Fraudsters impersonated representatives of reputed companies via WhatsApp and promoted look-alike mobile applications to build credibility.
Initially, small investments were returned with profits to gain trust. Once victims invested larger sums, their app accounts were blocked, and the money was siphoned off.
Authorities have urged the public to remain vigilant about any suspicious online investments or messages and report incidents promptly to the Cyber Crime Branch or the National Cyber Crime Reporting Portal.
About the author – Rehan Khan is a law student and legal journalist with a keen interest in cybercrime, digital fraud, and emerging technology laws. He writes on the intersection of law, cybersecurity, and online safety, focusing on developments that impact individuals and institutions in India.
