ED Arrests 2 in Mumbai Over Rs 30,000 Crore Pan-India Cyber Fraud

The Enforcement Directorate (ED) has arrested two men from Mumbai as part of an ongoing money laundering investigation into an alleged pan-India cyber fraud and digital arrest network involving transactions worth Rs 30,000 crore.

The two accused, identified as Fahim Moin Hussain Sayed and Naim Mueen Sayyed, were taken into custody from Mumbai on Sunday by the central agency.

According to agency sources, the investigation centres on a widespread cyber syndicate operating across the country. The probe has revealed suspected financial movements on a massive scale linked to digital arrest schemes and cyber deceit.

Investigators suspect that the illicit network facilitated bank transactions amounting to approximately Rs 27,000 crore. In addition to the banking channels, the agency is examining cash dealings estimated at Rs 3,000 crore tied directly to the fraudulent operations.

The Enforcement Directorate continues its money laundering probe to trace the broader network and the complete flow of illicit funds generated through the nationwide cyber fraud operation.