Mangaluru Police Uncover Sophisticated International Investment Fraud Network
In a major revelation, Mangaluru police have exposed a highly organized fraud network that has been systematically cheating Indian investors to the tune of an astonishing Rs 60 lakh to Rs 1 crore every single day. The police commissioner has detailed the intricate modus operandi of this criminal operation, which spans multiple countries and employs advanced digital tactics to evade detection.
Dual-Group International Operation
The fraud network operates through two distinct but coordinated groups with international footprints. One group is based primarily in Nepal, while the second functions from Cambodia, Dubai, and several other countries. This geographical spread has allowed the fraudsters to create a complex web of financial transactions that are difficult to trace.
Nepal-Based Recruitment and Money Routing
The Nepal-based group has been actively recruiting bank account holders and agents through various social media platforms. These recruits play a crucial role in the money laundering process. Once victims are defrauded, the illicit funds are routed through multiple bank accounts in a deliberate effort to obscure their origin. The money is then converted into USDT cryptocurrency, which enables immediate international transfer while minimizing the risk of detection by authorities.
International Contact and Luring Tactics
The second group, operating from Cambodia, Dubai, and other locations, directly contacts Indian investors using popular messaging platforms including WhatsApp, Instagram, Telegram, and Facebook. They use unknown numbers to initiate contact and employ sophisticated psychological tactics to build trust with potential victims.
Police investigations have revealed that Indians working overseas have also been exploited in this scheme. These individuals are reportedly forced to communicate with potential investors in their native Indian languages, using their cultural familiarity to establish credibility. The fraudsters lure victims with promises of exceptionally high returns on investment, creating a false sense of lucrative opportunity.
Recruitment and Commission Structure
The network actively advertises for various positions including corporate and current bank account operators, USDT–INR exchange specialists, management operators, and OTP workers. Those who respond to these advertisements are promised attractive commissions ranging from 5–10% of the transactions they facilitate.
To sweeten the deal, recruits are offered additional incentives including flight tickets, cab facilities, and hotel or lodge accommodation. Many are lured to international locations such as Dubai and Nepal under the guise of legitimate employment opportunities.
SIM Card Manipulation and Fund Movement
Once recruited, the SIM cards of account holders are used in phones that are controlled directly by the fraudsters. This gives the criminals access to net banking facilities and allows them to move funds freely between accounts. The money is systematically converted into USDT cryptocurrency and transferred overseas on a daily basis, creating a continuous flow of illicit funds out of India.
The Mangaluru police commissioner emphasized that this represents one of the most sophisticated financial fraud operations uncovered in recent times, combining international coordination, digital technology exploitation, and psychological manipulation to defraud Indian investors on a massive scale.
