The Enforcement Directorate has arrested an RTGS agent in connection with an alleged ₹417 crore money laundering network linked to digital arrest cyber fraud across the country. Mukesh Kumar Pukhraj Jain, also known as Mukesh Bhai, was taken into custody on October 16 by officials from the agency’s Panaji Zonal Office under the Prevention of Money Laundering Act. Investigators suspect that Jain played a central operational role in transferring illicit funds generated through cyber extortion across multiple corporate bank accounts and intermediaries. The probe, which originated from a single complaint in Goa, has quickly expanded into a nationwide financial investigation covering hundreds of related offenses.
Probe Traces Pan-India Web Across Twenty States
The inquiry began after an FIR was registered at the Cyber Crime Police Station in North Goa, where a local woman was reportedly defrauded of approximately ₹2.60 crore. Fraudsters contacted the victim via video call, impersonated officials from investigative agencies, and threatened her with imminent arrest in a fictitious criminal case. Under intense psychological pressure, she was persuaded to transfer the sum into designated accounts falsely described as supervision and security facilities. The agency noted that legitimate investigative agencies never demand fund transfers during official inquiries.
Subsequent financial tracking by federal investigators revealed that the bank accounts receiving these funds formed part of a sprawling syndication network. Investigators discovered that accounts connected to the operation were cited in more than 300 victim complaints and over 160 FIRs spread across more than 20 states and Union Territories. Transaction records tied to these specific accounts indicated that approximately ₹417 crore in fraudulent proceeds had been processed through the system, pointing to an organized financial operation far exceeding the initial North Goa case.
Layering Channels Used Shell Firms and Foreign Currency
According to the Enforcement Directorate, proceeds from digital arrest scams were systematically routed through multiple commercial entities and specialized bank accounts to obscure their criminal origin. These corporate accounts received funds from cyber victims and quickly diverted them through different domestic financial channels. Once deposited, substantial amounts were withdrawn as physical cash and subsequently converted into foreign currency. This multi-layered mechanism was designed to sever the audit trail and make it exceedingly difficult for law enforcement agencies to identify the ultimate beneficiaries.
Financial analysts within the agency are currently examining bank books, company registration details, and transactional ledgers of several affiliated entities. Investigators suspect that multiple corporate fronts were established solely to handle the high volume of incoming cybercrime transfers before the capital could be converted and transferred outside standard banking oversight.
Agent Admitted Knowledge of Cyber Fraud Proceeds
The agency stated that Jain operated as an RTGS transfer agent, relying on intermediaries to funnel illicit money directly into designated accounts tied to the network. In exchange for routing the transactions, Jain allegedly collected physical cash from the operators and deducted a commission for facilitating the fund movements. During statements recorded under the Prevention of Money Laundering Act, Jain reportedly admitted to knowing that the capital he handled stemmed from cyber fraud and digital arrest operations.
The Enforcement Directorate is continuing its scrutiny of additional individuals, shell firms, and financial intermediaries connected to the syndicate. Officials are working to map the full hierarchy of handlers who facilitated the conversion of deposits into foreign currency, as well as the principal coordinators directing the calls. The evidence assembled remains subject to ongoing judicial proceedings as prosecutors move to establish formal liability for the participants.
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