Mumbai Police Uncover Rs 58-Crore Cyber Fraud Network Linked to China and Cambodia

Mumbai Police have busted a massive Rs 58-crore cyber fraud operation involving 27 money mules and several shell companies used to route funds to China and Cambodia. The scam, which unfolded through fake investment and trading platforms, highlights how international cybercrime networks are exploiting Indian accounts to move illicit money abroad.

According to investigators, the fraudsters created multiple front companies that appeared legitimate on paper but were used solely to receive and transfer funds collected from victims. The victims, lured by online investment schemes promising high returns, deposited money into these accounts believing they were dealing with credible trading platforms. Within hours, the money was transferred overseas through a network of mule accounts and cryptocurrency wallets.

Police said most of the mule account holders were ordinary individuals who were paid small commissions for allowing their bank accounts to be used. Many were unaware of the full scale of the operation or the criminal network behind it. Several suspects have been detained, and investigators are tracing digital footprints that lead to handlers based in East Asia.

The Economic Offences Wing (EOW) has found that the syndicate used sophisticated digital tools to mask transactions, routing money through multiple accounts to avoid detection. The funds were often converted into cryptocurrency before being sent to exchanges operating in countries with weak financial oversight. Cyber experts say these methods reflect the growing international reach of organized digital crime targeting Indian users.

Authorities are now working with the Enforcement Directorate and cybercrime units to track the overseas links and recover funds. Officials have urged citizens to be cautious about online investment advertisements, trading apps, or job offers that demand money transfers.

For Tier 2 cities, where digital investment scams are rapidly spreading, the case serves as a warning about the rising risk of financial fraud in the online space. As the investigation deepens, Mumbai Police say they are committed to strengthening coordination with national and international agencies to dismantle such global cybercrime networks operating through India’s financial system.