In a major breakthrough against rising cybercrime, two separate fraud cases involving nearly ₹3 crore have been uncovered in Dhanbad, leading to the arrest of two accused allegedly linked to online financial scams and illegal banking transactions through fake companies.
Investigations revealed that in one case the victim was duped through social engineering on a messaging platform, while the other involved opening current accounts in the names of fake companies to route large volumes of suspicious transactions. Authorities suspect the involvement of a wider cyber fraud network, and efforts are underway to trace other members of the gang.
Impersonation as ‘Company Director’ Used to Cheat Victim of ₹50 Lakh
The first case surfaced in January this year when Abhay Kumar Agarwal, a resident of the Bhuiphod Mandir area in Dhanbad, filed a complaint stating that an unknown individual contacted him posing as a company director.
According to investigators, the fraudster initiated communication through an instant messaging platform and gradually gained the victim’s trust. Using persuasive tactics, the accused convinced Agarwal to urgently transfer money for what appeared to be a legitimate transaction.
Believing the request to be genuine, the victim transferred ₹50 lakh to a bank account. Later, when suspicions arose, he approached authorities and filed a complaint.
FutureCrime Summit 2026: Registrations to Open Soon for India’s Biggest Cybercrime Conference
Further investigation revealed that the money had been transferred to a bank account linked to a cooperative society. After analysing digital trails and banking records, investigators tracked the account holder and arrested Mohammad Afser (41) from Hosanagara in Shivamogga district of Karnataka.
Afser is believed to be one of the joint holders of the bank account into which the fraudulent funds were deposited. Officials said two other associates linked to the account are still absconding, and efforts are underway to trace them.
Fake Companies Used to Route ₹2.5 Crore Transactions
The second case is linked to the Saraidhela area of Dhanbad, where investigators uncovered a money mule network facilitating illegal banking transactions.
During the probe, it emerged that Manish Singh (50) had allegedly opened multiple current accounts in the names of fictitious companies at a nationalised bank. These accounts were reportedly used to route funds obtained through cyber fraud.
According to investigators, nearly ₹2.5 crore was transferred through these accounts within just one week, raising suspicion about the legitimacy of the transactions.
After receiving a tip-off and verifying financial records, authorities detained the accused. He was later produced before a court and remanded to judicial custody.
Preliminary interrogation indicates that the network may not be limited to one region and could involve individuals operating from multiple states.
Growing Role of ‘Money Mule’ Networks in Cybercrime
Cybercrime experts say the use of money mule networks has increased significantly in recent years. Fraudsters often open or rent bank accounts in the names of other individuals to move stolen money, making it difficult to trace the actual masterminds behind the fraud.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said such cases frequently involve social engineering, fake identities, and misuse of banking channels.
He explained that cybercriminals typically build trust with victims first and then create urgency to push them into transferring money quickly. The funds are then routed through multiple accounts to make tracking more complex.
Probe Expands as Authorities Track Larger Network
Investigators are now examining whether the two fraud cases are linked and if they form part of a larger organised cybercrime network.
Digital evidence, banking trails and mobile data are being analysed to identify other suspects connected to the fraud operations. Officials believe further investigation could reveal more members of the gang and additional financial transactions linked to the network.
Cyber experts have advised citizens to remain cautious and avoid transferring money to unknown individuals or accounts without proper verification, especially when requests are made through messaging apps or phone calls.
