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Enforcement Directorate targets major cyber fraud and tax evasion networks in India
The Enforcement Directorate (ED) has launched significant operations targeting large-scale financial crimes in India. In a major crackdown on a ‘digital arrest’ and cyber fraud network involving transactions estimated at 30,000 crore rupees, the agency arrested two brothers, Fahim Moin Hussain Sayed and Naim Mueen Sayyed, in Mumbai. The investigation, which originated from a 2.60 crore rupee fraud against a senior citizen in Goa, revealed an organized network that used fabricated surveillance to coerce victims into transferring funds through hundreds of shell companies and mule accounts.
Separately, the ED conducted raids across nine locations in Uttar Pradesh and Haryana, seizing 3.6 crore rupees in cash. This operation targeted an import-export firm allegedly involved in the fraudulent availment and passing of bogus Input Tax Credit (ITC). Authorities established that the firm used fabricated invoices and e-way bills to generate approximately 9.63 crore rupees in fraudulent ITC, resulting in significant losses to the government exchequer.
Additionally, the Surat Cyber Crime Cell arrested an individual linked to a Chinese cyber fraud network. The suspect allegedly facilitated the movement of over 33 crore rupees through 34 bank accounts, using a commission-based system to provide accounts to fraudsters operating from Dubai.
Entities
Dewas Police · Directorate of Enforcement · Enforcement Directorate · Fahim Moin Hussain Sayed · Fahim Moin Hussain Syed · Goa · Goa Cybercrime Police · Mumbai · Naim Moin Syed · Naim Mueen Sayyed
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The investigation involves alleged pan-India cyber frauds and digital arrests with transactions worth approximately 30,000 crore rupees. navbharatlive.com · navhindtimes.in
- [○ 1 SOURCE] The victim's funds were fragmented across more than 400 beneficiary accounts.
- [● 3 SOURCES] A senior citizen in Goa was defrauded of approximately 2.60 crore rupees through a digital arrest scam. navbharatlive.com · navhindtimes.in
- [● 3 SOURCES] The arrests were made under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002. navbharatlive.com · navhindtimes.in
- [● 2 SOURCES] The money laundering network utilized an interconnected web of commodity, trading, travel, and forex entities. navhindtimes.in
- [● 3 SOURCES] The ED arrested Fahim Moin Hussain Sayed and Naim Mueen Sayyed in connection with a money laundering investigation. navbharatlive.com · navhindtimes.in
- [● 2 SOURCES] The syndicate used companies with RBI licenses as Full Fledged Money Changers to convert proceeds into foreign currency. navhindtimes.in
- [○ 1 SOURCE] Dewas Police arrested 12 individuals and recovered approximately 54.84 lakh rupees in a digital arrest fraud case. navabharat.com
- [● 2 SOURCES] The ED seized Rs 3.6 crore in cash during a massive search operation covering nine premises in Uttar Pradesh and Haryana. english.publictv.in · newsable.asianetnews.com
- [● 2 SOURCES] GST authorities have established fraudulent availment of Rs 9.63 crore ITC and passing on of Rs 10.28 crore ITC. english.publictv.in · newsable.asianetnews.com