In one of the biggest financial crackdowns by Delhi Police, an elaborate money laundering scam run by China-based entities has been busted. Two CAs, a Tibetan woman and eight others have been arrested.

Around five lakh Indians have been duped of their “investment” and their sensitive data stolen through malicious “quick earning” apps running in the garb of an online multi-level marketing campaign. Over Rs 150 crore has been siphoned in just two months, according to police commissioner S N Shrivastava.

Rs 11 crores of has been blocked in various bank accounts and payment gateways and Rs 97 lakh cash recovered from a Gurgaon-based CA who formed over 110 companies for Chinese fraudsters.

DCP Roy said CyPAD officials recently came across several social media posts made by people across the country regarding two mobile apps – “Power Bank and ExPlan” – that offered to double the invested amount in 24-35 days. The apps also offered returns on an hourly and daily basis and had investment options starting from ₹300 to several lakhs.

The Power Bank app was available on Google Play Store and trending at No 4. The EZPlan app was available on the website www.ezplan.in. DCP Roy said that since the messages were inducing the recipient to download an app through a short (encrypted) URL, the activity was identified as suspicious and the malware forensic lab of CyPAD-NCFL was asked to examine both the apps.

#ChineseApps #OnlineFraud

Subscribe to Swarajya on YouTube.

Get a Swarajya subscription: https://subscriptions.swarajyamag.com...

Website: https://swarajyamag.com/
Twitter:   / swarajyamag  
Facebook:   / swarajyamag