330 victims, Rs 400 crore: Goa digital arrest leads ED to pan-India network of cyber fraudsters

The Enforcement Directorate (ED) carried out arrests in Goa as part of a money laundering investigation that has exposed a nationwide network of cyber fraudsters. The suspects, Fahim Moin Hussain Sayed and Naim Mueen Sayyed, were charged under the Prevention of Money Laundering Act (PMLA), 2002. The investigation began with a complaint lodged in Goa last year, involving a woman who was duped into transferring Rs 2.6 crore in an alleged "digital arrest" scheme. The money was deposited into accounts falsely labeled as "secret supervision accounts".

The ED's probe uncovered a web of organized cyber fraud, with accounts linked to over 330 victims and 163 FIRs across 20 states and Union Territories. The syndicate allegedly siphoned off more than Rs 400 crore in losses. The victims' funds were quickly moved through a series of dormant accounts, ultimately reaching more than 400 beneficiary accounts. These accounts facilitated transactions totaling Rs 27,850 crore across various sectors, including commodity trading, travel, and forex.

The investigators seized Rs 3.25 crore in cash and seized digital devices, records, and registers from 20 locations in Mumbai and Goa. The arrested individuals are now under examination of the seized assets.