India arrests 10 men in Chinese code deferral investigation

Indian police have arrested 10 individuals for supporting Chinese gangs with laundry revenue from fraud. According to reports, the Uttar Pradesh Police Cybercrime team has arrested 10 individuals from various locations, including Lucknow, Levareli and Gonda.

In their report, police said that arrested individuals are washing their funds on behalf of Chinese cyber fraud gangs by converting illegal proceeds into different digital assets. Indian police have begun arrests after completing an investigation into digital fraud businesses with international ties. This was primarily due to the rise of fraudulent businesses and other illegal activities involving the digital industry. For example, over the past few months, the number of investment frauds related to domestic digital assets has increased.

Indian police arrest suspects over laundry of criminal proceeds

Officials said the suspects were part of a large network of criminals who supported Chinese gang operations in the country. There are indications that the network is spreading globally, but Indian police have focused solely on destroying networks in the country. The report alleges that Chinese gangs have carried out different types of online scams and routed illegal funds through multiple bank accounts.

Authorities said these arrested individuals will work for the gang and use local bank accounts to receive funds. After receiving the funds, the suspect uses it to purchase digital assets and sends them back to the criminal gang after deducting the committee. According to the investigation, for the past two months, suspects arrested have paid almost Rs. 750,000-800,000 rupees (approximately $86,000 to $92,000).

Of the 10 suspects detained by Indian police, two agreed to help authorities by becoming witnesses to the government. The remaining individuals were booked and the trial was sent to pending judicial custody. Authorities said they were all involved in helping Chinese gangs adjust things on the ground. They carried out activities such as obtaining bank accounts, managing digital transactions, and making profits through fees for each transfer.

The incident began arresting two men, including a Hyderabad industrialist last week, highlighting the country’s growth trends. Authorities say the man received funds that were allegedly fraudulent income from his bank account. The investigation revealed that the funds were sent to a casino in Sri Lanka that is currently investigating for cyber fraud. Police approached the victim after a tip-off from their counterpart. The victim had already made payments to an Indian account provided by the offender.

Authorities have warned residents of the country to be aware of these criminal elements. Officials said people trying to steal people’s hard-earned money often come with better investment opportunities than they are always true. They provide a very large amount of revenue on their investments and encourage victims to use it for a while. The first few investment opportunities are always impressive, but they use them to deceive the victims and make more investments, which is stolen and washed.