Cyber fraud money traced through cryptocurrency and hawala channels is reaching overseas networks via Dubai and Bangkok, with investigations by Pimpri-Chinchwad Cyber Police pointing to links extending as far as China, according to information reported by Lokmat – Pune on Wednesday.
The findings relate to cases involving digital arrest scams, share-trading fraud, online investment fraud and malicious APK files. Investigators found that money obtained from victims was first transferred into mule bank accounts before being converted into cryptocurrency or moved abroad through hawala channels.
People whose bank accounts were made available for these transactions, agents who arranged accounts and intermediaries involved in cryptocurrency transfers were paid for their roles, the report said. Cybercriminals are estimated to spend up to 10% of the fraud proceeds to move the money outside India.
Investigations into several cases have indicated that some large-scale fraud operations are being controlled by criminal groups based in China. The report also identified transaction trails involving Dubai and Bangkok. In smaller frauds involving OTPs, OLX transactions and comparatively low-value losses, investigators traced parts of the money trail to Jamtara in Jharkhand and Alwar in Rajasthan.
In such cases, mule accounts are used to move the money between multiple accounts before cash is withdrawn through ATMs or bank branches. The layered movement of funds makes it difficult to identify the final beneficiaries and requires investigators to follow both domestic account holders and overseas transaction channels.
Since the establishment of the Pimpri-Chinchwad Cyber Police Station, police have arrested 315 suspects in different cybercrime cases. Two suspects were detained with assistance from Interpol. One suspect facing more than 20 cases across India was arrested in Thailand, while another suspect accused of providing mule accounts to Chinese suspects and working with them was brought back to India from Dubai and arrested. A Russian suspect was also arrested in Goa.
Police have additionally dismantled two international call centres involved in defrauding foreign citizens. In two cases registered in 2026, action under the Maharashtra Control of Organised Crime Act was initiated against a total of 15 suspects, according to the report.
The cyber police have recovered or helped return Rs 45 crore to fraud victims since the station was established. In 2024, the station received 16,936 complaints and placed Rs 37.31 crore on hold, of which Rs 4.08 crore was returned to victims. The number of complaints rose to 20,549 in 2025.
Between January and October 2026, police placed Rs 46.04 crore on hold and succeeded in returning Rs 22.89 crore to citizens, the report said. The figures reflect the importance of quickly reporting fraud, since early intervention can allow banks and investigators to block funds before they are transferred through multiple accounts or converted into cryptocurrency.
Assistant Commissioner of Police (Cyber) Rohini Bankar said investigations were focused on identifying the domestic and international chain behind the transactions. She said the priority was to place fraud proceeds on hold immediately and return them to citizens. The police are continuing to investigate the cross-border networks and the intermediaries involved in moving the money.
