Delhi Police busts Rs 5.24 Cr cybercrime, money laundering racket; 9 held

• Delhi Police busted a trans-national cybercrime and money laundering racket, arresting nine members.
• The syndicate was involved in large-scale online fraud, routing over Rs 5.24 crore through compromised bank accounts.
• The arrests followed a raid on November 26 at a hotel in Dwarka, where the gang operated and frequently changed locations.
• Accused procured bank accounts through middlemen, with one account showing over 10,400 transactions totaling Rs 5.24 crore in five days.
• Proceeds were laundered via hawala channels and cryptocurrency, and further investigation is underway to identify masterminds abroad.

Why It Matters: It reveals the sophisticated methods of cybercriminals targeting your money.