Delhi Police Dismantle Three Cyber Fraud Operations: Online Investment, Fake Trading App, and KYC Scams

India’s Delhi Police have busted three multi‑state cybercrime rackets involved in high‑value online investment scams, fake trading apps, and KYC‑based deception. The operations led to the arrest of three key accused linked to networks operating across several states.

Online Investment Scam

In the first case, police uncovered an online investment fraud worth ₹3.31 million. Investigators found that multiple bank accounts had been fraudulently opened under the name Belcrest India Pvt Ltd, an entity tied to at least 57 cyber fraud complaints nationwide. The accused, Lakshay of Najafgarh, was arrested on November 19. Police said he had also floated another fictitious firm, Nextoverse IT Solutions Pvt Ltd, and efforts are underway to trace his associates.

Fake Trading App Fraud

In another case, a victim lost ₹5.305 million through a fake trading app impersonating a financial services platform. Funds were funnelled through several mule accounts, including one under RS Enterprises. Its operator, Ramveer of Faridabad, was arrested on November 18. He is also implicated in a similar case registered at the Cyber Crime Police Station in Karnal, police added.

KYC Deception

The third case involved a Jamtara‑style KYC fraud amounting to ₹575,000. The accused, Rajesh Mandal (33) of Giridih, Jharkhand, allegedly posed as a bank official and tricked the victim into sharing credentials under the guise of updating KYC details. Using remote‑access software, he purchased premium mobile phones and a laptop, later delivered to Kolkata.

Police said all three operations required extensive technical analysis and raids across Delhi‑NCR, Haryana, and Jharkhand. Further investigation is ongoing.

Recently, the Delhi Police have busted several fraud networks, including a Dubai‑linked investment fraud syndicate and a ₹23.5M forex fraud.