CBI-FBI bust cybercrime syndicate, one nabbed after raids in Mumbai & Kolkata

Mumbai: In a major operation, the Central Bureau of Investigation (CBI) in collaboration with the U.S. Federal Bureau of Investigation (FBI), has busted a sophisticated virtual asset and bullion-supported cybercrime network with raids in Mumbai and Kolkata.

The cybercrime syndicate has been targeting victims in different countries since 2022, and the CBI-FBI operation has led to the arrest of one from Mumbai, identified as Vishnu Rathi.

Following a complaint, the CBI’s CBI’s International Operations Division lodged a case on September 9 (2024) against the key accused Rathi and others, and initiated a thorough probe into the scam.

According to the CBI, the accused Rathi had allegedly conspired to target a U.S. woman citizen by gaining unauthorised remote access to her computer and bank accounts.

They attempted to lure the U.S. citizen under the pretext of offering tech support services and then falsely informed her that her bank account had been ‘compromised’.

Claiming her bank account funds were at risk due to the hacking, they allegedly manipulated her to transfer USD 453,953 (nearly Rs 3.81 crore) to cryptocurrency wallets controlled by them, before disappearing.

After the case was registered, the CBI raided multiple locations believed to be linked with Rathi and seized substantial incriminating evidence.

The searches were carried out at seven locations in Mumbai and Kolkata on September 12 and 13, and the CBI sleuths uncovered details of how the transnational cyber-enabled financial crimes network was channelling proceeds of crime through virtual assets and bullion.

From Rathi’s Mumbai residence, the CBI recovered 57 gold bars of 100 gms each (5.70 kgs, valued at several crores of rupees), plus cash of Rs 16 lakhs, mobiles and laptops used to manage the cryptocurrencies, details of bank lockers, documents and other damning material.

The CBI-FBI collaboration, as well as similar joint probes with enforcement agencies worldwide, was through the Interpol tips and follow up on leads, etc.

‘Operation CHAKRA-III’ as it is called, is intended to combat and dismantle organised cyber-enabled financial crime syndicates through a globally coordinated law enforcement response leveraging the Interpol channels.

Rathi has been charged under IPS Sections 120-B, 420, and IT Act Sec. 66D and 75, and further investigations are underway to identify other victims and trace the proceeds of the crimes.