TS cyber cops trace fraud withdrawals to Dubai

HYDERABAD: The TS Cyber Security Bureau has traced the withdrawals of money, accumulated through cybercrimes, to Dubai, in a first-of-its-kind discovery, officials said.

Officials said that previously, they generally traced money transfers and withdrawals in cybercrimes to north-eastern states or West Bengal, but a recent investigation in three investment fraud cases in the tri-commissionerate areas led them to Dubai.

Sources said that this could be a new way of dodging investigating agencies and evading arrest.

An investigator, requesting anonymity, said: “Getting back the money may not be possible in such cases, but at least if we can break the link, it might lead to some deterrence.”

The investigator said that they are reaching out to international law enforcement agencies for assistance in following the money trail.

So far, investigators have found withdrawals amounting to Rs 61 lakh, in three separate instances. They said that while the money was transferred by victims to accounts based in India, only the withdrawals were made from Dubai.

“It is suspected that these accounts belong to mules working for fraudsters or fraudsters themselves. There could also be chances that the fraudsters are using the accounts of migrant workers, offering them some commission for the same,” the investigator cited above said.

In the three cases, the accounts from which money was withdrawn were of a leading Indian private bank. “Prima facie it was found that the accounts were opened without KYC verification, like in most cases of opening accounts, which are used for committing cyber frauds,” the investigator said.

“A detailed probe is underway to trace the accounts holders and ascertain their links to crimes. All the cases are under various stages of investigation and no arrest has been made yet,” the investigator said.