In a massive crackdown, the Mumbai Crime Branch has arrested 12 members of an international cyber fraud syndicate. According to officials, the gang forged documents, opened hundreds of bogus bank accounts, and routed scams through call centres in China, Hong Kong, Dubai, and multiple Indian states.

The gang is accused of duping victims through fake loan apps, fraudulent investment schemes, and bogus stock trading platforms across the country, siphoning off nearly Rs 60.62 crore. The modus operandi of this syndicate was to dupe people through online loan apps, investment schemes and stock trading scams by approaching them with multiple disguises like finance experts, bank officials, etc.

The arrests followed coordinated raids on June 18 in Andheri, Kandivli, Thane, Dombivli, Kalyan, Ambernath, Badlapur, and Pune. Acting on a tip-off, cyber police detained three men in Kandivli East, whose questioning revealed a larger operation involving fake accounts and SIM card activations for foreign handlers. This led to a wider action that resulted in a total of 12 arrests.