Delhi Police have dismantled a major cyber fraud syndicate that channelled nearly Rs 180 crore through a network of shell companies and mule accounts, authorities said. The operation, conducted under Operation Cy-Hawk, led to the arrest of two men and the seizure of digital devices and financial records as investigators mapped the scheme’s nationwide footprint.
India cybercrime network investigation
Investigators from the Cyber Police Station of New Delhi District said the probe began after multiple complaints on the National Cyber Crime Reporting Portal (NCRP) pointed to a recurring pattern of fraudulent transfers into a single IDFC Bank account. The account, held in the name of M/s Kudremukh Trading (OPC) Private Limited and registered in Connaught Place, bore the hallmarks of a mule account used to launder proceeds from online scams.
Police registered an FIR on 19 November 2025 under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and initiated a detailed inquiry. Forensic analysis and transaction tracing revealed links between the company account and 176 separate cyber fraud complaints, amounting to approximately Rs 180 crore in alleged cheated funds moved through multiple layers of shell companies.
During the investigation, officers established that the account had been opened in the name of Rajesh Khanna, who later stated he had acted on the directions of two men, identified as Sushil Chawla and Rajesh Kumar Sharma. Police allege the pair controlled transfers and had a hand in setting up roughly 20 shell companies to siphon off defrauded money.
Delhi Police said Khanna has since died in Noida. The other two suspects initially cooperated with investigators but later began evading notices; they were subsequently arrested. Digital evidence recovered so far suggests Khanna may have been used as a pawn in a wider organised scheme. The accused reportedly named an individual with alleged links to similar cases in West Bengal, prompting investigators to broaden their enquiries.
Two mobile phones and a laptop were seized from the accused and are undergoing forensic examination. Police officials confirmed that devices and bank account records are being analysed in coordination with the Indian Cyber Crime Coordination Centre to establish nationwide connections and identify additional suspects and victims.
Authorities said Operation Cy-Hawk targets mule accounts, cash handlers and shell companies that facilitate the laundering of cyber fraud proceeds. The operation is part of a broader push by law-enforcement agencies to choke illicit financial channels used by organised cybercriminals and protect victims who often lose life savings to such scams.
The investigation remains active. Officials urged members of the public to report suspected cyber frauds via the NCRP and to exercise caution when sharing banking details or responding to unsolicited requests for money. Police also asked banks and financial institutions to remain vigilant for patterns of repeated receipts from accounts linked to shell firms and to cooperate promptly with enquiries.
Key Takeaways:
- Delhi Police, under Operation Cy-Hawk, uncovered a nationwide cybercrime network linked to about Rs 180 crore routed via shell companies and mule accounts.
- An IDFC Bank account held by M/s Kudremukh Trading (OPC) Pvt Ltd in Connaught Place was repeatedly used to receive fraud proceeds.
- Two suspects were arrested after investigations revealed 20 shell firms and connections to 176 cyber fraud complaints; one accused has died.
- Devices and bank records have been seized and are being examined with the Indian Cyber Crime Coordination Centre to trace nationwide links.
