Assam Man Arrested for Masterminding 1090 Cybercrime Cases, Rs 1071 Crore Involved
A 25-year-old man from Assam has been arrested by Gujarat CID's cyber cell for allegedly masterminding 1,090 cybercrime cases involving Rs 1,071.5 crore across India.
The accused, Rafiqul Alam, maintained links with China-based criminals and was responsible for routing money obtained through cyber fraud into cryptocurrency and sending it to China.
Alam allegedly used thousands of bank accounts to convert the funds into smaller transactions to evade financial surveillance. The Cyber Centre of Excellence found that he transferred tainted money through 1,754 bank accounts across India within an hour by converting large amounts into small amounts.
The investigation traced the money to 1,758 accounts and found 23 cryptocurrency wallets on Alam's mobile phones, with around Rs 16 crore transacted. The transactions established a link between cryptocurrency and a China-based gang.