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The Enforcement Directorate (ED) has made a big disclosure about the rapidly increasing cases of cyber fraud in the country. In the charge sheet filed recently, it has been revealed that hundreds of people from the country were lured with employment and taken to the 'Golden Triangle' (areas bordering Thailand, Laos and Myanmar), where they were being held hostage and forced to commit cyber crimes. According to the charge sheet, about Rs 159.70 crore was defrauded through this cyber racket. The accused cleverly trapped people in their net using social media, fake investment companies, cryptocurrency and international networks.
Social media becomes a weapon
The fraudsters used to run attractive advertisements on social platforms like Facebook, Instagram, WhatsApp and Telegram, luring huge returns on investments. Victims were added to professional-looking WhatsApp groups where a team of fake investors was already active. They were then asked to download fake mobile apps like IC ORGAN MAX, Techstars.shop and GFSL Securities.
Initially they showed profit, then cheated people of crores
The IPOs and stocks shown in these apps looked so real that people were deceived. Initially, trust was built by showing fake profits on investment, and as soon as people invested more money, they were looted in the name of tax, brokerage or charges. After a time, the scammers would end the contact.
Cyber fraud was being controlled from Golden Triangle
ED's investigation revealed that cyber thugs had set up their bases in big buildings in areas situated on the border of Thailand, Laos and Myanmar. From here, under the leadership of Chinese citizens, young people brought from India, Pakistan and Bangladesh were made to chat in English. Their mobiles were snatched and they were given "work phones" through which people from India were trapped. If they refused, they were beaten up and threatened.
From UP to Singapore, then to Laos
In one instance, Manish Tomar from Uttar Pradesh told the ED that he was duped of Rs 50,000 by Instagram influencer Bobby Kataria on the pretext of promising a job in Singapore and was then sent to Laos where his passport was confiscated and he was forced to commit cyber fraud.
Crores of rupees fraud in Faridabad, Noida and Bhatinda
Faridabad: A woman was cheated of Rs 7.59 crore through WhatsApp groups and fake apps.
Noida: Rs 9.09 crore was extorted from a businessman through a group named "GFSL Securities".
Bathinda: A doctor was duped of Rs 5.93 crore using a Facebook investment link.
Money laundering through shell companies
ED found that for this scam, 24 fake companies were created in Tamil Nadu, Karnataka and other states, which were used for money laundering. These companies were registered at the addresses of co-working spaces and even their directors did not know that companies were running in their names.
Traces were being erased using SIM cards and crypto
Fraudsters used to obtain fake SIM cards through Telegram, which were used to create fake bank accounts and WhatsApp groups. The defrauded money was converted into cryptocurrency and sent abroad so that no trace could be found.
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