ED busts cyber fraud cartel targeting US nationals in Telangana

HYDERABAD: The Enforcement Directorate (ED) has unearthed a large-scale cyber fraud cartel operating illegal call centres that cheated US nationals, laundered money through cryptocurrency and accumulated assets over several years. Searches in Ahmedabad led to the seizure of cryptocurrency worth about $12,000, cash of `13.5 lakh and the freezing of 31 bank accounts.

The Hyderabad zonal office of ED conducted searches on February 4 at six premises in Ahmedabad under the Prevention of Money Laundering Act. The probe was initiated based on FIRs registered by Cyberabad police and the CBI’s IOD wing in New Delhi in cases related to organised cyber fraud and impersonation.