Background and Timeline: The Delhi Police Crime Branch dismantled two massive interstate cyber fraud syndicates in separate operations reported on Sunday, January 25, 2026 . The first syndicate had been active for nearly five years, operating with high levels of technical expertise to evade detection . This crackdown followed an exhaustive analysis of 2,567 complaints registered on the National Cybercrime Reporting Portal (NCRP) across several Indian states .
Modus Operandi: The syndicate operated a fake online trading scam, luring victims with promises of high-return investment portfolios through social media platforms . They managed the financial proceeds through an intricate network of 260 bank accounts opened in the names of 105 fictitious companies . The group utilized “entry operators” and professional money launderers to bridge the gap between digital scam sites and the legitimate banking system .
Victims and Financial Impact: The syndicate is estimated to have defrauded investors of over ₹300 crore during its five-year tenure of operation . A single related case reported on December 13 saw a South Delhi resident duped of over ₹8.3 lakh through a malicious APK file masquerading as a KYC update . During the raids, police seized 39 mobile phones, 258 SIM cards, four laptops, and multiple forged banking documents .
Investigation and Agencies Involved: DCP (Crime) Aditya Gautam led the specialized team that analyzed I4C data and bank KYC records from more than 200 different branches . Technical surveillance, call data records, and IP analysis were used to pinpoint the syndicate’s operating locations in Kolkata and Lucknow . The investigation involved coordination with the Delhi Police Special Cell to track the money trail through multiple shell entities .
Arrests and Suspects: A total of eight individuals were arrested across raids in Kolkata and Lucknow . Identified suspects include Biswajit Mondal (32) and Ashish Aggarwal (35) from Kolkata, and Rajibb Shah and Shubham Sharma from Lucknow . In a second related bust, four individuals from Jharkhand and West Bengal, including Shiv Kumar Ravidas, were arrested for a multi-state KYC-update fraud ring .
Broader Implications and Trends: The duration of the syndicate’s activity (5 years) indicates that organized cybercrime has achieved a level of sustainability previously seen only in traditional organized crime . The exploitation of legal loopholes to create corporate shells for laundering purposes marks a shift toward white-collar cyber offense . Authorities emphasize that high-velocity transactions in accounts linked to non-existent firms are now a primary target for forensic audits .