A woman in Goa lost more than Rs 2.6 crore in a digital arrest scam after fraudsters kept her on a video call for nearly two weeks and convinced her to transfer money to so-called “Secret Supervision Accounts.”
She reported the fraud to the North Goa Cyber Crime Police, which led to an Enforcement Directorate (ED) investigation uncovering a much larger money-laundering network.
HOW THE MONEY WAS MOVED
Investigators traced the woman's money through dormant and newly opened bank accounts. The funds were quickly divided among more than 400 accounts through bank transfers, cash withdrawals, cheques and payment gateways.
The trail eventually reached commodity trading, travel and foreign-exchange companies. Some of these firms had legitimate RBI licences to operate as money changers.
According to the ED, the network used these businesses to turn cyber-fraud money into cash and then foreign currency, making the stolen funds appear like normal business transactions.
The companies involved had processed more than Rs 27,850 crore through their bank accounts. Nearly Rs 2,904 crore was deposited in cash, including Rs 584.70 crore through Bulk Note Acceptance Machines in more than 61,000 transactions.
330 VICTIMS LINKED TO THE NETWORK
The investigation found that the same accounts were connected to 330 victims and 163 FIRs across 20 states and union territories.
The reported losses in these cases totalled around Rs 417.49 crore.
In 101 cases, the money from a single victim was divided among two or more companies from the same group, suggesting that the businesses were working as a common money-laundering network rather than independently.
The ED also found that several companies were officially registered in the names of employees, drivers and people living in modest accommodation. Investigators believe the real operators controlled the businesses while using these individuals' identities to conceal themselves.
ED RAIDS AND ARRESTS
The ED conducted searches at 20 locations in Mumbai and Goa on July 17, 2026, followed by another round of searches on August 21.
Officials seized Rs 3.25 crore in cash and froze bank accounts containing more than Rs 30 crore. Digital devices, financial documents, account books and company records were also seized for examination.
On August 23, the ED arrested Fahim Moin Hussain Sayed and Naim Mueen Sayyed under the Prevention of Money Laundering Act. They were produced before a Goa PMLA court and sent to ED custody until August 29.
The investigation is continuing, with the possibility of further arrests.
ED'S WARNING
The agency reiterated that no Indian police or investigating agency conducts a “digital arrest” or asks people to transfer money for verification or supervision.
Anyone receiving such a call should disconnect immediately and report it through 1930, the national cybercrime helpline, or the official cybercrime reporting portal.
A useful takeaway is simple: if someone claiming to be police, ED, CBI or another agency demands money over a video call, treat it as a scam and report it immediately.
