Valley-wide raids conducted; 22 detained for questioning
Srinagar 07 Jan(KNB): In a major blow to organised cybercrime and its alleged links to terror financing, Counter Intelligence Kashmir (CIK) has intensified its crackdown on a well-organised network involved in operating mule bank accounts to launder proceeds of cyber frauds, illegal online gaming, betting rackets and other unlawful activities.
Acting on specific and credible intelligence inputs, CIK registered FIR No. 06/2025 at Police Station Counter Intelligence Kashmir under relevant provisions of the Information Technology Act, Bharatiya Nyaya Sanhita (BNS), and the Unlawful Activities (Prevention) Act (UAPA). The case has exposed a sophisticated financial crime syndicate posing a serious threat to economic security and digital safety.
Network Behind Cybercrime Exposed
Investigations have revealed a carefully orchestrated conspiracy in which accused persons, in collusion with local and outside operatives, exploited bank accounts of innocent and economically vulnerable individuals. These accounts were converted into so-called “mule accounts” and used as temporary channels to route large volumes of illicit money generated from cyber scams, banned online gaming and betting platforms, and fake investment and trading applications.
Alarmingly, investigators suspect that a portion of the laundered money was further diverted towards terror financing and other activities prejudicial to the sovereignty and integrity of the nation.
The syndicate allegedly operated through blatant violations of banking norms, misuse of KYC procedures, registration of non-existent business entities on the UDHAYAM portal, identity theft, impersonation, and complex money-laundering techniques designed to conceal the origin and destination of criminal proceeds.
Valley-Wide Searches
During the preliminary probe, 22 suspects operating within the Kashmir Division were identified. After obtaining search warrants from the Hon’ble Special NIA Court, Srinagar, CIK carried out simultaneous searches at 22 locations—17 in Srinagar district, three in Budgam, and one each in Shopian and Kulgam.
The searches led to the seizure of significant incriminating material, including digital devices and financial records vital to the investigation.
Detentions and Probe Ongoing
So far, 22 individuals have been detained for questioning to ascertain their roles and links with cyber frauds, illegal online gaming and betting platforms, and suspicious financial transactions. Officials said the investigation is at a nascent stage and is expected to uncover a much wider network operating within Jammu and Kashmir and across other parts of the country.
CIK’s Warning to the Public
Counter Intelligence Kashmir reiterated its firm resolve to dismantle organised criminal syndicates, choke their financial pipelines, and act decisively against economic offences that threaten national security.
CIK warned that misuse of banking systems—whether knowingly or unknowingly—will invite strict legal action. The public has been urged to remain vigilant, protect their financial credentials, and immediately report suspicious offers or transactions to authorities.
“Cybercrime is not victimless. It fuels organised crime and terror activities,” CIK said, reaffirming its commitment to safeguarding the nation’s financial and digital integrity.