Mumbai: In a major crackdown on cyber fraud, the Mumbai Police has uncovered a new and dangerous modus operandi in which fraudsters routed stolen money through multiple bank accounts before converting it into cash via petrol pumps. The Sir JJ Marg Police Station has arrested one accused in connection with the case.
The arrested accused has been identified as Rahul Kumar Shaitanmal Sen (23), a resident of Pali in Rajasthan. According to police, Sen worked as a cash conversion agent and facilitated the transfer of fraud money into fake bank accounts through petrol pumps in exchange for commission.
Police said that apart from Sen, several others Aftab Imran Sayyed (22), Mohammed Shadab Ashfaq Khan (25), Abdul Qadir Allauddin (40), Amit Subhashchandra Mishra (34), and Sanoj alias Pintu Singh (38) — were detained and later released after being served notices.
Commission-Based Network: Investigations revealed that the racket operated through a well-organized, commission-based network. Different members were assigned specific roles some arranged fake or rented bank accounts, others handled the layering of funds across multiple accounts, while a few managed cash operations at petrol pumps. Each member was paid a commission, ensuring the smooth functioning of the network.
Modus Operandi:
Petrol Pump Cash-Out: Police said the gang first obtained money through online fraud. The funds were then routed through multiple bank accounts to obscure their origin. Eventually, the money was transferred to petrol pump accounts, where it was converted into cash.
At the petrol pumps, gang members would collect cash from customers and deposit an equivalent amount into bank accounts. While the transactions appeared legitimate on the surface, they were actually used to launder cyber fraud proceeds and convert them into cash.
During interrogation, Sen admitted that he played a key role in converting digital money into cash and forwarding it within the network for commission. Police recovered ₹47,000 in cash, multiple mobile phones, and crucial banking transaction records from his possession. Analysis of his mobile devices revealed contacts with other accused, pointing to a wider network.
Funds Frozen, Wider Links Suspected: Police have frozen ₹74,000 across various bank accounts as part of the investigation. Officials suspect that the racket may have links to other cities and states.
The fraud came to light through technical analysis of bank transactions and digital evidence. Police are now probing further to identify the mastermind and trace other members involved in the operation.
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