13 hours Ago By Dhruv Raghav
The Directorate of Enforcement (ED) has filed a Supplementary Prosecution Complaint (SPC) in a 2024 cyber fraud case linked to PYYPL (pronounced as “people”), a UAE-based payment platform, the ED said in a press release dated April 3, 2025. According to the government agency, cybercriminals used the platform and cash in Dubai to launder approximately Rs 303 crore to crypto wallets.Modus Operandi:The ED has conducted this investigation in collaboration with the Financial Intelligence Unit (FIU) India and the Indian Cybercrime Coordination Centre (I4C).
According to the press release, an organised criminal syndicate (OCS) was operating through multiple Telegram groups to dupe people online. The accused were using monikers such as Jennifer, Alan, Tom, and Tom-Support. Members of the OCS “hatched a criminal conspiracy” to lure Indian citizens and wrongfully appropriate their money.
According to the agency, the OCS operators had hired multiple individuals in India, on the promise of receiving commission, to operate and arrange mule bank accounts. A mule bank account is used by money launderers to whitewash the proceeds of crime. “Once the defrauded money was deposited into these accounts, the accused would launder the proceeds through various other mule accounts, convert it into crypto on the PYYPL platform or through cash in Dubai, and transfer it back to the private crypto wallets shared by members of the OCS in the Telegram groups,” the press release added.
As part of the investigation, the ED has seized multiple laptops, iPads, smartphones, and private crypto wallets for further investigation. A crypto wallet seized from one of the accused was worth Rs 1.36 crore, the press release added.
In a press release published in 2024, ED claimed that the aforementioned cyber fraud could be worth a whopping Rs 640 crore, generated through betting, gambling, part-time jobs and phishing scams. India’s Efforts to Curb Online Frauds:Telegram has become one of the favourite platforms of cybercriminals in recent times. According to the Annual Report 2023–24 by the Union Ministry of Home Affairs (MHA), the first quarter of 2024 alone saw 22,860 cyber fraud incidents recorded on Telegram, closely followed by Instagram with 19,800 registered complaints.
WhatsApp topped the list with 43,797 registered complaints—a massive lead.To curb online fraud, the MHA had set up I4C in 2020. The centre has been spearheading the government’s efforts against cybercrime in the country.
As per MHA’s Annual Report 2023-24, I4C has been leading the charge in maintaining partnerships with global platforms like Facebook and Google to bring down the incidents of crimes committed online.As more Indians come online, and the ones already present spend more hours on the internet, either for work or entertainment, it becomes imperative for the government to create a safer online environment for the citizens. Along with putting up guardrails, the government should work towards educating people about digital hygiene.
Also read:India launches Central Cybercrime Registry to strengthen fraud prevention and national cybersecurityCommunication Ministry launches Digital Intelligence Platform for collaborative action against cybercrimeTelecom Department Disconnects 392 Mobile Handsets For Involvement in CybercrimeThe post ED Files Supplementary Complaint in Rs 303 Crore Crypto Fraud Linked to UAE-Based PYYPL appeared first on MEDIANAMA..
