Chinese Telegram Ring, Bank Insider & Rs 12.84 Crore: How Delhi Police's IFSO Unit Busted Mega Corporate Cyber Fraud

The fraudulent scheme involved 317 unauthorised digital transactions executed directly from Hero FinCorp's corporate bank account

In a significant crackdown on organised financial crime, the Intelligence Fusion and Strategic Operations (IFSO) unit of the Delhi Police’s Special Cell has unearthed a massive Rs 12.84 crore cyber fraud targeting non-banking financial company Hero FinCorp Ltd. Following coordinated raids across multiple states, law enforcement authorities apprehended five key individuals linked to an intricate nationwide network operating in tandem with foreign cybercriminals.

The fraudulent scheme involved 317 unauthorised digital transactions executed directly from Hero FinCorp’s corporate bank account, resulting in a total loss of Rs 12,84,09,997. The siphoned funds were rapidly dispersed across 34 separate bank accounts to evade immediate detection. Moving swiftly upon discovery, the IFSO team placed an official hold and lien on roughly Rs 1.70 crore in suspicious accounts to prevent further flight of capital.