Delhi EOW probes money laundering by foreign-based online gaming firms
10 months, 1 week ago

Delhi EOW probes money laundering by foreign-based online gaming firms

New Indian Express  

NEW DELHI: The Economic Offences Wing of Delhi Police has registered a case and initiated a probe after a complaint by the Enforcement Directorate alleged that a money laundering racket involving foreign-based online gaming companies are exploiting Indians. A senior EOW officer said information was received from the ED that foreign online gaming companies are providing access to Indian residents through VPN or masking their actual identity as foreign online gaming websites. By using this modus operandi, alleged persons were collecting money from the general public and sending the said money out of India by using illegal means such as Foreign Outward Remittance against import of service/goods without actual business activities,” DCP Vikram Porwal said. The firms were found to be registered in the name of various employees/hired persons by using fabricated/forged documents for the purpose of collection/routing/outward foreign remittances of proceeds of crime from online gaming by the foreign registered gaming websites, police said.

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History of this topic

CBI Searches 10 Locations in Delhi in Cyber Fraud Case
1 month ago

CBI Searches 10 Locations in Delhi in Cyber Fraud Case

Deccan Chronicle  

New Delhi: The Central Bureau of Investigation today conducted searches at 10 locations in Delhi and surrounding areas in connection with an on-going investigation of a transnational cyber enabled fraud case involving large-scale financial scams. The CBI registered the said case under Sections 403 and 420 of the Indian Penal Code and Section 66D of the Information Technology Act, 2000, …

Cyber fraud case: CBI raids 10 places in Delhi, Gurugram following complaint by I4C
Trending News
1 month, 1 week ago

Cyber fraud case: CBI raids 10 places in Delhi, Gurugram following complaint by I4C

New Indian Express  

NEW DELHI: The Central Bureau of Investigation on Wednesday conducted searches at 10 locations across Delhi and its adjoining areas in connection with its probe into a case linked to cyber fraud involving embezzlement of Rs 117 crore, officials said. A senior CBI official said, “The investigation so far has revealed that fraudsters operating from overseas use digital platforms such …

CBI conducts searches in Delhi-NCR in connection with Rs 117 crore cyber fraud case
Trending News
1 month, 1 week ago

CBI conducts searches in Delhi-NCR in connection with Rs 117 crore cyber fraud case

India TV News  

Cyber Fraud Case: The Central Bureau of Investigation conducted searches at 10 locations in Delhi and surrounding areas today in connection with an ongoing investigation of transnational cyber-enabled financial frauds involving Rs 117 crore, said officials. According to the CBI, the searches were conducted in an ongoing investigation into a case registered under Sections 403, 420 of the Indian Penal …

Government Must Establish Whitelist to Curb Money Laundering in Online Gaming
2 months, 2 weeks ago

Government Must Establish Whitelist to Curb Money Laundering in Online Gaming

The Hindu  

The Digital India Foundation (DIF) has released a report recommending the government establish a whitelist of compliant gaming companies to ensure that payment gateways and ISPs serve only the listed operators. The report also suggests stringent KYC practices, action against misleading advertisements, and a clamp down on illegal operators.

Cryptocurrency and Offshore Betting: A Money Laundering Threat in the Online Gaming Ecosystem
2 months, 2 weeks ago

Cryptocurrency and Offshore Betting: A Money Laundering Threat in the Online Gaming Ecosystem

New Indian Express  

Online gaming faces a significant threat from money laundering due to the use of cryptocurrencies and offshore betting platforms. The report highlights the increasing adoption of digital currencies like Bitcoin and Ether for in-game transactions, resulting in an upsurge in money laundering and fraud. Financial institutions must enhance their anti-money laundering (AML) systems to prevent the use of mule accounts …

Enforcement Directorate arrests four more accused linked to cyber fraud syndicate involving “Chinese scammers”
3 months, 4 weeks ago

Enforcement Directorate arrests four more accused linked to cyber fraud syndicate involving “Chinese scammers”

The Hindu  

The Enforcement Directorate has arrested four accused in a case related to cyber fraud of ₹2.60 crore by a person posing as a Central Bureau of Investigation official, who was part of a network involving “Chinese scammers”. “All the four accused were involved in incorporation of shell companies and opening of bank accounts, through which Proceeds of Crime generated from …

Philippine authorities detain more than 160 people over suspected cybercrime operation
4 months, 1 week ago

Philippine authorities detain more than 160 people over suspected cybercrime operation

The Hindu  

Philippine authorities raided a suspected illegal online gaming and cyberscam complex in a central province and took into custody more than 160 people — mostly Chinese and Indonesians — who were committing internet-based crimes, officials said on Sunday. The raid on Saturday by more than 100 government agents, backed by military intelligence, on a resort compound in Lapu-Lapu city was …

Chennai police bust international network involved in online financial scams
6 months, 3 weeks ago

Chennai police bust international network involved in online financial scams

The Hindu  

The Central Crime Branch of the Greater Chennai City Police has busted a gang that procured SIM cards illegally and operated current accounts from India that were being used by cyber fraudsters operating out of Malaysia and Cambodia, targeting Tamil-speaking people. Police said Anil Kumar, Assistant Foreign Regional Registration Officer, Bureau of Immigration, Chennai International Airport, reported on Sunday that …

How China is targeting adversaries like India with cyber frauds, espionage
7 months, 2 weeks ago

How China is targeting adversaries like India with cyber frauds, espionage

India Today  

The Indian embassy in the Cambodian capital of Phnom Penh, on May 22, announced the rescue of some 360 Indian nationals from human trafficking networks in the country. Indian intelligence agencies have identified multiple instances of Indian IT workers falling victim to similar scams in Cambodia and Myanmar, with estimates suggesting that over 5,000 people may have been coerced into …

Caught in a web | Non-cooperation of banks and internet intermediaries a big hurdle for cybercrime probes
11 months, 1 week ago

Caught in a web | Non-cooperation of banks and internet intermediaries a big hurdle for cybercrime probes

The Hindu  

A fake investment scheme cracked in October 2023, involving a network of 84 bank accounts with transactions worth over ₹850 crore, and a work-from-home scam unearthed last week, involving a network of 30 bank accounts with transactions worth over ₹150 crore, were detected by following the trail of money laundered through several bank accounts. “Opening these bank accounts is a …

Govt of India bans over 100 fraudulent Chinese websites in crackdown on China-operated financial scams
1 year, 1 month ago

Govt of India bans over 100 fraudulent Chinese websites in crackdown on China-operated financial scams

Firstpost  

The government of India has banned over 100 Chinese-operated investment scam websites. These websites were found to be intricately linked to multiple bank accounts, with funds being transferred between accounts to confuse investigating agencies In a decisive move against financial fraud, the Government of India has launched a comprehensive initiative to ban over 100 Chinese-operated investment scam websites that have …

Cyber-Crimes Proliferating At Alarming Rate: Delhi High Court Denies Relief To Man Booked For Hacking Lawyer's Phone, Duping Him Of Money
1 year, 3 months ago

Cyber-Crimes Proliferating At Alarming Rate: Delhi High Court Denies Relief To Man Booked For Hacking Lawyer's Phone, Duping Him Of Money

Live Law  

The Delhi High Court has recently observed that in today’s digital era, cyber-crimes are proliferating at an alarming rate and that such offences are neither bound by border restrictions due to their global reach, nor do they discriminate among their victims. Observing that cyber-crimes target the elderly, young, businesses as well as the governments in the digital landscape, Justice Swarana …

Cybercrime Web: How Chinese Syndicates Are Targeting Neighbouring Countries
1 year, 11 months ago

Cybercrime Web: How Chinese Syndicates Are Targeting Neighbouring Countries

News 18  

Chinese syndicates and threat actors are committing cybercrimes in neighbouring countries, including theft of personal information, cross-border gambling, e-commerce scams, romance scams, and APT, sources in Indian intelligence agencies have said. Chinese syndicates, residing in neighbouring countries, have escalated their involvement in various virtual crimes, including stealing personally identifiable information, illegitimate gambling and related crimes, fraud, e-commerce scams, and APT …

Online Fraud: High Court Directs Delhi Police To Investigate Fraudulent Domain Names Being Registered Under Marks Of Well Known Brands
2 years, 5 months ago

Online Fraud: High Court Directs Delhi Police To Investigate Fraudulent Domain Names Being Registered Under Marks Of Well Known Brands

Live Law  

The Delhi High Court has recently sought a status report from the city Police regarding investigation in cases wherein fraudulent domain names are being registered under the marks of well-known and established business houses and brands.Justice Pratibha M Singh noted that the said domain names were being used for hosting fraudulent websites with details of bank accounts under the garb …

ED Raids On Vivo: China Hopes For a 'Truly Fair' Probe In Accordance With Law
2 years, 6 months ago

ED Raids On Vivo: China Hopes For a 'Truly Fair' Probe In Accordance With Law

News 18  

China on Wednesday expressed hope that India will conduct the ongoing investigations into the Chinese mobile manufacturer firm Vivo in accordance with the law and regulations and provide a " truly fair" and "non-discriminatory" business environment to China's firms. "As I have stressed many times, the Chinese government has always asked Chinese companies to abide by laws and regulations when …

Indian financial crime agency raids Chinese-owned Vivo
2 years, 6 months ago

Indian financial crime agency raids Chinese-owned Vivo

The Hindu  

India's financial crime-fighting agency on Tuesday raided the offices of smartphone maker Vivo, owned by China's BBK Electronics, and its related entities, a senior government official and an industry executive told Reuters. The raids at Vivo come months after the Enforcement Directorate launched an investigation into Xiaomi Corp, one of India's leading smartphone sellers, for alleged illegal remittances abroad "in …

Delhi: NCB busts international drug trafficking network operating via darknet, 8 held
3 years, 6 months ago

Delhi: NCB busts international drug trafficking network operating via darknet, 8 held

India Today  

The Narcotics Control Bureau of Delhi on Saturday busted an international drugs trafficking syndicate with the arrest of eight people and seizure of 22 lakh psychotropic tablets and at least 245 kg of similar drugs that were being allegedly peddled over the darknet. The central anti-narcotics agency said the illegal trade was unearthed after multiple raids were carried out by …

Karnataka: Cyber crime sleuths bust Rs 290 crore money laundering scam, 9 accused held
3 years, 6 months ago

Karnataka: Cyber crime sleuths bust Rs 290 crore money laundering scam, 9 accused held

India Today  

The Cyber Crime Division of CID Karnataka has arrested nine accused persons, including four foreign nationals, in connection with a major money laundering scam in the name of a power bank investment of more than Rs 290 crore. READ: Two arrested by ED for sending Rs 1,500 cr to foreign countries in guise of 'customised software' Accused persons arrested from …

China-based online money laundering racket using cryptocurrencies exposed: Cops
3 years, 7 months ago

China-based online money laundering racket using cryptocurrencies exposed: Cops

Hindustan Times  

Uttarakhand police claims to have busted an online racket suspected to have cheated at least ₹250cr from unsuspecting investors by promising to double their money in 15 days but siphoning it out of India instead by converting it into crypto currency. One Pawan Kumar Pandey, accused of running a shadow company to transfer the cheated money to his alleged “handlers …

U.S. charges five Chinese nationals with hacking 100 entities including Indian government networks
4 years, 3 months ago

U.S. charges five Chinese nationals with hacking 100 entities including Indian government networks

The Hindu  

The U.S. Justice Department has charged five Chinese citizens with hacking over a 100 companies and institutions in America and abroad, including the Indian government’s networks, and stealing valuable software data and business intelligence. Deputy U.S. Attorney General Jeffrey Rosen on Wednesday announced three indictments have been unsealed in the matter that collectively charge five Chinese nationals with computer hacking …

5 Chinese nationals charged in mega hacking scheme, Indian govt networks hit: US
4 years, 3 months ago

5 Chinese nationals charged in mega hacking scheme, Indian govt networks hit: US

Live Mint  

The US Justice Department has charged five Chinese citizens with hacking over a 100 companies and institutions in America and abroad, including the Indian government's networks, and stealing valuable software data and business intelligence. Deputy US Attorney General Jeffrey Rosen on Wednesday announced three indictments have been unsealed in the matter that collectively charge five Chinese nationals with computer hacking …

Chinese online betting racket busted
4 years, 4 months ago

Chinese online betting racket busted

India Today  

Less than a month after Hyderabad police commissioner Anjani Kumar came out with a report on a Chinese promoted, India-based online gambling racket, more details have emerged of an intrepid operation involving massive digital money transactions and money laundering. In several other states which still allow online gambling, the authorities are helpless, one reason why many victims from other states …

Enforcement Directorate to probe ₹1,100-crore online gambling racket
4 years, 4 months ago

Enforcement Directorate to probe ₹1,100-crore online gambling racket

The Hindu  

The Enforcement Directorate has registered a money-laundering case against a Chinese national and his three Indian accomplices, in connection with an illegal online gambling business involving transactions worth over ₹1,100 crore. The online gambling was being run by various entities, which functioned allegedly under the China-based “Beijing T Power Company.” Acting on complaints of cheating, the Hyderabad Police arrested Yah …

Chinese national, 3 others working for online gambling company held
4 years, 4 months ago

Chinese national, 3 others working for online gambling company held

The Hindu  

A Chinese national and his three associates from New Delhi were arrested by Hyderabad police on Thursday for organising online gambling. During the course of investigation, the sleuths of Central Crime Station found that the online gambling was organised by various companies under the blanket of Beijing T Power Company, a firm based out of China. The arrested are Yah …

Money Laundering Case: I-T Raids on Chinese Individuals, Indian Contacts Continue for Second Day
4 years, 4 months ago

Money Laundering Case: I-T Raids on Chinese Individuals, Indian Contacts Continue for Second Day

News 18  

The Income Tax Department on Wednesday continued its raids against some Chinese individuals and their local associates in connection with its probe into a Rs 1,000 crore worth cross-border money laundering racket using shell or dubious firms, officials said. Charlie is allegedly holding a fake Indian passport and officials said he created a "web of sham companies to launder hawala …

Delhi: I-T department raids premises of Chinese entities, associates with suspected hawala links for alleged money laundering
4 years, 4 months ago

Delhi: I-T department raids premises of Chinese entities, associates with suspected hawala links for alleged money laundering

Firstpost  

The search revealed that a subsidiary of a Chinese company, related concerns took over Rs 100 crore advances from shell entities for opening retail showrooms New Delhi: Based on credible information regarding Chinese individuals and their associates being involved in money laundering and hawala, the Income Tax Department on Tuesday carried out searches on the premises of Chinese entities, their …

I-T Dept detects money laundering racket linked to Chinese firms
4 years, 4 months ago

I-T Dept detects money laundering racket linked to Chinese firms

Live Mint  

New Delhi: The Income Tax department on Tuesday said searches at premises of certain Chinese entities in India have revealed a money laundering racket involving shell companies. A subsidiary of a Chinese company and its related concerns have taken over ₹100 crore bogus advances from shell entities for opening retail showrooms in India, the tax department said in a statement. …

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