The Cyber Police Station of Delhi’s South-West district has cracked down on a significant network involved in fraudulent loan apps under Operation Cyhawk 4.0. Two more suspects have been apprehended, bringing the total arrested in the case to six. The latest detainees, Karan Kumar (24) and Shami Ahmad (27), both residents of Kapashera, were found with mobile phones containing incriminating WhatsApp conversations.
The case revolves around an online financial scam enticing victims with fake loan offers. After disbursing the loans, the accused coerced money from victims by threatening to circulate doctored images of them. The investigation was initiated after a suspicious mule bank account in Kapashera, connected to fake loan app scams, was identified. This led to the recent arrests and the launch of a thorough probe.
Following leads from prior arrests, authorities traced additional accounts linked to the fraud scheme. Notably, a Bank of India account under Karan Kumar’s name was associated with multiple complaints, prompting further scrutiny and subsequent arrests. During questioning, Karan Kumar confessed to providing his bank account to co-accused Shami Ahmad on a commission basis for cyber fraud activities.
The accused maintained contact with other syndicate members via virtual numbers from Pakistan and Bangladesh. Incriminating WhatsApp chats revealed details about the operation of fake loan apps, management of mule accounts, and the receipt of ill-gotten funds. Investigators are now delving into whether these virtual numbers were managed by foreign handlers or by Indian criminals concealing their identities.
Officials elucidated the fraudsters’ modus operandi, where victims unknowingly granted access to their phone data upon downloading the fake loan apps. Loans were issued with undisclosed terms, and victims were subsequently threatened with manipulated images. The fraudulently obtained funds were channeled through mule accounts using UPI and then converted into cryptocurrencies like USDT to obfuscate the money trail.
Both suspects, reported as Rapido drivers, were allegedly roped into the illicit scheme through local connections promising easy money in exchange for bank account access. Police are actively investigating to uncover other network members and track the flow of funds.
