Team Goemkarponn
Panaji: In a major breakthrough, the Gujarat Cyber Centre of Excellence has busted a ₹77 crore cyber fraud racket with links to Goa, arresting 16 accused, including nine from the coastal state.
Investigations revealed that the accused were operating a vast mule account network, opening bank accounts under multiple identities and routing illicit funds linked to cyber fraud operations across the country.
Officials said some members of the syndicate had floated shell firms and managed over 260 bank accounts, which were connected to at least 375 cybercrime cases reported nationwide.
According to the police, the Goa-based accused primarily handled fund transfers and maintained communication with associates, including foreign operatives, through encrypted applications. The racket allegedly functioned on a commission basis.
Further investigations are underway to trace additional links and identify other individuals involved in the network.
