Mumbai EOW Records 80 Financial Fraud Cases Worth ₹5,485 Crore In 8 Months; 2 September Cases Total ₹7,379 Crore

Mumbai: The Mumbai police Economic Offences Wing (EOW) has registered 80 cases involving alleged financial fraud amounting to Rs5,485 crore up to August 31, 2026, according to crime data shared by the Mumbai police.

While the number of cases has increased by five compared with the corresponding period last year, the amount involved is significantly lower. During the same period last year, 75 cases involving alleged financial fraud of Rs15,296.94 crore had been registered.

According to the data, the EOW registered 21 cases involving Rs562.61 crore in January 2026. In January 2025, 13 cases involving Rs194.35 crore were registered. By February 2025, the number of cases had increased by eight, with the amount involved rising to Rs10,475.66 crore.

By August 31, 2025, the EOW had registered 75 cases involving Rs15,296.94 crore. The figure increased to 123 cases involving Rs17,342.18 crore by December 31, 2025.

Although the number of cases registered during the first eight months of 2026 remained relatively close to last year's figure, the EOW registered two major cases in the first week of September involving alleged financial fraud totalling approximately Rs7,379 crore.

In the first case, the alleged accused, including chartered accountants and company directors, are accused of conspiring to create shell or bogus companies. According to the EOW, false Form 15CB certificates required for remittance of foreign currency were allegedly prepared without verifying supporting documents and submitted to the Income Tax Department as genuine. The accused allegedly transferred around Rs2,575 crore abroad, resulting in alleged tax evasion and loss to the government.

In the second case, a chartered accountant, directors of three companies and others have allegedly conspired to create shell or bogus companies and prepared fraudulent Form 15CB certificates without supporting transaction documents. The certificates were allegedly submitted to the Income Tax Department as genuine, following which around Rs4,804.54 crore was allegedly remitted abroad, causing alleged tax evasion and financial loss to the government.

The EOW is investigating both cases.

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