news
The breakthrough got here after a metropolis businessman reported that Rs 25,000 had been withdrawn from his account with out authorisation.
Following the grievance, police launched an investigation and arrested six suspects linked to the racket.
These detained have been recognized as Arif Makrani, Ashwin Patel, Smit Chavda, Rakesh Prajapati, Jagdish Patel, and Jasmine Khambhyata.
Officers seized Rs 3.17 crore in money, 15 cellphones, three cheques, and 9 cheque books from the accused.
In response to investigators, the gang had been working on a big scale, routing fraudulent transactions throughout a number of financial institution accounts.
Up to now, greater than 500 particular person complaints have surfaced through the scrutiny of various accounts.
Police say that out of the Rs 29 crore swindled, at the least Rs 9 crore was traced to deposits in separate accounts linked to the gang.
Officers revealed that the accused acted as intermediaries, withdrawing funds in money from banks and passing it on to their handlers whereas conserving a fee.
The fraudsters reportedly exploited loopholes in digital fee techniques, enabling them to bypass OTP verification—a safeguard thought-about essential for banking and UPI transactions.
The arrests spotlight rising considerations over the evolving ways of cybercriminals who not rely solely on phishing or SIM swaps.
Police warned UPI and on-line banking customers to stay alert, as cybercriminals are discovering methods to entry accounts with out triggering commonplace safety checks.
Authorities are actually probing potential connections of the arrested group with bigger cybercrime networks, in addition to investigating how such vital sums had been laundered and transferred.
Additional arrests are probably because the investigation expands throughout a number of states.
Police stated the bust is without doubt one of the largest lately in Gujarat and underlines the necessity for stronger cybersecurity frameworks in banking operations.
– Ends
