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Enforcement Directorate arrests two in 30,000 crore rupee digital arrest fraud probe
The Directorate of Enforcement (ED) has arrested two brothers, Fahim Moin Hussain Sayed and Naim Mueen Sayyed, in Mumbai as part of a massive investigation into a pan-India ‘digital arrest’ and cyber fraud network. The probe follows a case in Goa where a senior citizen was coerced into transferring approximately 2.60 crore rupees through fabricated surveillance and threats of arrest.
The investigation targets a money laundering syndicate involved in transactions estimated at 30,000 crore rupees. The network utilized an intricate system of over 400 beneficiary accounts, including dormant and newly opened ones, to fragment and cycle funds. These proceeds were reportedly converted into cash and foreign currency using companies holding Reserve Bank of India licenses as Full Fledged Money Changers.
In a separate but related crackdown on digital arrest fraud, Dewas Police arrested 12 individuals and recovered roughly 54.84 lakh rupees. The police reported that the suspects impersonated officials from the Department of Telecommunications, the Mumbai Crime Branch, and the CBI to intimidate victims into transferring money.
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
- [○ 1 SOURCE] The arrests were made under Section 19 of the Prevention of Money Laundering Act (PMLA), 2002.
- [○ 1 SOURCE] The money laundering network utilized an interconnected web of commodity, trading, travel, and forex entities.
- [● 3 SOURCES] The ED arrested Fahim Moin Hussain Sayed and Naim Mueen Sayyed in connection with a money laundering investigation. navbharatlive.com · navhindtimes.in
- [○ 1 SOURCE] The syndicate used companies with RBI licenses as Full Fledged Money Changers to convert proceeds into foreign currency.
- [○ 1 SOURCE] Dewas Police arrested 12 individuals and recovered approximately 54.84 lakh rupees in a digital arrest fraud case. navabharat.com