Cyber Crime
Rs 8 Crore Global Money Laundering Ring Busted In Visakhapatnam
The Visakhapatnam Police, in an extensive crackdown has exposed an elaborate international money laundering and cybercrime network that utilized rented bank accounts to facilitate illegal financial transactions. The sophisticated operation, with roots in China and Taiwan, revealed the exploitation of local Indian residents for processing illicit funds.
The investigation centered around Surya Mohan, a Visakhapatnam-based chauffeur, who unwittingly became embroiled in the criminal enterprise through his Chinese connections. Initially engaging in legitimate financial assistance to locals, Mohan’s activities eventually intersected with the fraudulent scheme.
Law enforcement officials detailed the criminals’ strategy, which involved recruiting account holders by promising substantial daily commissions for the use of their bank accounts. These accounts subsequently served as conduits for large-scale monetary transactions, with funds being rapidly dispersed across multiple accounts before being channeled overseas through unauthorized payment platforms.
The scale of the operation became apparent when investigators discovered that approximately Rs 8 crore had been channeled through merely two accounts within a four-month period. The money trail led to organized crime syndicates operating from Taiwan, China, and several other countries, who orchestrated the infiltration of illegal funds into India through a network of local facilitators.
The case was cracked through a coordinated effort involving the Andhra Pradesh Police, Gujarat Police, and the Indian Cyber Crime Coordination Centre (I4C). The investigation also revealed the involvement of shell companies and various entities in facilitating these money laundering activities.
Law enforcement agencies are continuing their probe into the international connections and their coordination with domestic operatives.
Citizens can report suspicious banking activities through:
• The national cybercrime hotline: 1930
• The cybercrime portal: cybercrime.gov.in
• Their local police station