Police bust major cyber fraud racket; eight held

Bengaluru: Cybercrime continues to surge in Karnataka, with yet another major online investment scam busted by Bengaluru police. The Kengeri police have arrested eight accused who allegedly cheated people across India and abroad by luring them into fake online investment schemes promising high returns.

According to police, the accused targeted victims through social media platforms such as Facebook, WhatsApp, and Instagram. They promised huge profits on small investments, convincing victims to deposit large sums. Once the money was received, the fraudsters vanished, swindling crores of rupees. Police conducted simultaneous raids at seven locations on Sunday (October 6) and arrested the accused. The raids resulted in the seizure of 19 laptops, 40 mobile phones, 11 pen drives, 42 SIM cards, 4 iPads, 2 hard disks, 5 CPUs, 13 rubber seals, 10 memory cards, foreign currency, a currency counting machine, and property documents worth ₹6 crore.

This case adds to Bengaluru’s growing list of cybercrime incidents. Recently, two city-based professionals lost ₹2.28 crore in a fake online trading app scam. In another case, a 59-year-old retired teacher was duped of ₹2.3 crore through a matrimonial site. The Bengaluru police have urged citizens to remain vigilant and avoid engaging in online investment offers promising unrealistic profits. The investigation into the cyber fraud network is ongoing.