TAG: GS-2: POLITY
THE CONTEXT: Recently, the Central Bureau of Investigation (CBI) has arrested 26 individuals from Pune, Hyderabad, and Visakhapatnam as part of an investigation into a large-scale technology-enabled cybercrime network.
EXPLANATION:
About the Operation Chakra-III:
- The operation is being conducted in coordination with the U.S. Homeland Security Investigations (HSI) and other foreign law enforcement agencies, indicating the transnational nature of the crime syndicate.
- Multiple Raids were conducted across multiple locations in India, including Pune, Hyderabad, Visakhapatnam, and Ahmedabad, leading to arrests and seizure of significant digital evidence.
- FBI Collaboration action comes after earlier raids conducted in Kolkata and Mumbai in collaboration with the U.S. Federal Bureau of Investigation (FBI).
- Nature of the Crime: The cybercriminals impersonated tech support services, targeting victims, especially in the U.S., and making them believe that their systems had been hacked or their identities stolen. They manipulated the victims into transferring their bank holdings under the pretext of safeguarding their finances.
- Methods of Deception: The victims were falsely led to believe that they were under surveillance of law enforcement agencies. The cybercriminals used intimidation tactics, inducing victims to transfer funds through various means like international gift cards or cryptocurrency, resulting in significant financial losses.
- Seizures and Evidence: The CBI seized critical digital evidence, including 951 items such as electronic devices, communication records, ₹58.45 lakh in cash, locker keys, and three luxury vehicles. This evidence is crucial to tracing the network’s operations and financial dealings.
- Virtual Assets and Bullion: Earlier in September, during a similar operation, a group in Mumbai was found to have transferred illegally acquired funds into virtual assets and bullion. In one instance, they defrauded a victim out of $453,953, transferring the funds to cryptocurrency wallets.
Operation Chakra-III highlights the growing threat of cybercrime in India, especially in the realm of transnational financial fraud. The arrests and coordination with international agencies like the FBI and HSI underline the importance of global cooperation in tackling such crimes. The seizures of digital evidence, large amounts of cash, and luxury assets indicate the scale of the operations.
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