Explained: How Bengaluru college dropout ran ₹24 crore cybercrime network

A college dropout in India’s IT hub Bengaluru, in the quest to make quick money, devised a plan and moved crores across the country and overseas. The mastermind behind his massive cybercrime operation, was identified as Mohammed Uzaif, who ran this scam with his mother Sabana Abdul Bari, has been arrested. He was managing thousands of bank accounts, where the stolen money was deposited. The 22-year-old used these accounts to park money and then syphon it. The duo procured the sum through online fraud.

As reported by news outlet Times of India, Uzaif had dropped out of a BCom course, created a network to help cybercriminals keep their illegal funds. These were claims made by the investors. The duo is accused of operating about 4,200 bank accounts. And with more external help, they managed nearly 9,000 accounts. As per the police, close to ₹24 crore passed through these accounts. The accused alone made over ₹25 lakh every year.

The operation involved a Dubai-based Indian handler, Prem Taneja. He has been wanted by police, Taneja has been arrested in the past in the 2013 IPL spot-fixing case. According to police investigation, Uzaif and his mother travelled to Dubai several time to meet his Taneja to plan and orchestrate the illegal business.

How did they run the system?

In order to ensure that the money kept flowing in and the ecosystem they created ran smoothly, the mother-son duo visited colleges and hospitals and convinced people to open bank accounts. And in return, they offered them mere ₹2,000 to₹5,000.

The accused then gathered debit cards, passbooks, and cheque books, later to route them to their associates in Delhi. The associates then used these documents to withdraw cash, oversee transactions and used couriers, facilitating the laundering of funds. So far the police have arrested nine youth from Delhi for assisting and coordinating with the duo in the illegal activity.