Indian cyber ring exposed for funnelling millions to Dubai and China

AHMEDABAD - A sprawling cybercrime network in Gujarat that quietly channelled more than Rs 719 crore (RM331 million) overseas has been dismantled, following a detailed investigation by authorities into a maze of mule accounts and digital fraud.

A cybercrime group operating out of Bhavnagar, Gujarat has been uncovered for allegedly moving the funds in fraudulent gains to Dubai and China.

The operation, revealed through a probe by the Cyber Crime Expertise Centre (Cyber CoE) in Gandhinagar, led to the arrest of 10 suspects, including two bank employees.

Authorities discovered that the syndicate relied on 110 mule accounts to handle money linked to 1,594 fraud cases spanning 26 states and six union territories.

Police said the illicit funds were passed through 130 additional receiving accounts before being routed overseas by handlers based in Dubai and China.

Among those detained were Alpesh Makwana, Mahendra Makwana, Pratik Waghani, Vipul Dangar, Jayrajsinh Raijada, Guruprabsingh Tank, Tejas Pandya and Divyarajsinh Zala, as well as two IndusInd Bank staff members, Abubakarbin Shaikh and Parth Upadhyay.

Investigators believed the bank personnel were instrumental in opening large batches of accounts, enabling the syndicate to slip past financial regulators.

Police also suspected that Divyarajsinh Zala acted as the main link to international operators and managed major cryptocurrency transactions.

Officials said much of the money was converted into cash and USDT cryptocurrency before being transferred using the angadia courier network and digital wallets.

Reports indicated the funds originated from a wide range of online scams, including investment fraud, vishing, payment system deception, fake deposits and job scams.

The case came to light after the Financial Intelligence Unit (FIU) noticed unusual activity in several accounts frequently used within short timeframes.

Cyber CoE investigators later matched the accounts to a coordinated mule network controlled from Bhavnagar.

Police confirmed that transactions traced so far total Rs 719.79 crore (RM331.5 million), though they expect the real amount to be higher. They are now tracking additional individuals believed to have helped create accounts, run transactions and move funds abroad.

Authorities said more arrests were likely as digital evidence suggested the network operated more broadly than initially detected.