In a significant crackdown, the Delhi Police has unearthed a sophisticated hawala syndicate while investigating a cyber fraud case amounting to Rs 33 lakh. The operation led to the arrest of four individuals, including key operatives believed to be instrumental in running the illegal money transfer network.
From Cyber Fraud to a Hawala Network
The investigation was triggered by a complaint filed at the Cyber Police Station of the South East District in August 2023. A victim reported being duped of Rs 33 lakh by fraudsters posing as officials from the Securities and Exchange Board of India (SEBI). The scammers convinced the complainant to transfer the funds under the guise of securing a fake insurance policy.
Following the money trail, police teams, under the supervision of DCP (Cyber) Shweta Chauhan, zeroed in on the financial transactions. Their probe revealed that the defrauded money was quickly funneled through a complex web of bank accounts and eventually siphoned off using hawala channels, exposing a larger, organized racket.
The Arrests and Syndicate's Modus Operandi
The police have arrested four men in connection with the case: Mohd. Noman (24), Sahil (22), Fardeen (22), and Rizwan (35). According to officials, Rizwan is identified as a key player who managed the hawala operations and coordinated with other syndicate members.
The syndicate operated by using a network of bank accounts opened with forged documents. Once the fraudulently obtained money was deposited into these accounts, it was swiftly withdrawn or transferred. The funds were then moved through the hawala system, an informal method of transferring money without any physical movement, effectively laundering the illicit cash and obscuring its origin.
Layers of Deception Unraveled
Investigators found that the accused used multiple layers of transactions to evade detection. The initial proceeds from the cyber crime were broken down into smaller amounts and routed through various accounts before being consolidated and handed over to hawala operators. This method made tracking the funds exceptionally challenging for authorities.
The police have seized several mobile phones, SIM cards, and documents related to the fraudulent bank accounts. Interrogation of the arrested individuals is ongoing to identify other members of the network, including the masterminds behind the original cyber fraud and the broader hawala ring.
Broader Implications and Ongoing Probe
This case highlights a dangerous nexus between organized cyber crime and traditional hawala networks. Such alliances enable criminals to rapidly dispose of large sums of illegal money, complicating recovery efforts for law enforcement.
The Delhi Police have indicated that the investigation is expanding. They are delving deeper into the syndicate's connections, both within the National Capital Region and potentially in other states. The focus is on mapping the entire hierarchy of the racket and freezing all assets linked to the illegal operations.
Authorities have urged the public to remain vigilant against such sophisticated frauds and to verify the credentials of anyone requesting large financial transactions. They also advise immediately reporting any suspicious communication to the cyber crime helpline.
