In a major breakthrough, Gujarat Police have dismantled a massive international cybercrime syndicate operating out of Surat, responsible for laundering over ₹1,455 crore through 89 bank accounts in just six months. The racket, involving deep links to overseas fraud networks, was masterminded by three individuals Kirat Jadwani, Meet Khokhar, and Mayur Italia.
Operating under the guise of a financial assistance service, the trio targeted individuals seeking personal loans. They would collect official documents by promising to arrange loans through their “contacts.” Using these documents, they opened bank accounts — without the applicants’ knowledge — and later returned the papers, falsely claiming the loan was rejected.
These bank accounts were then leased or sold to cybercriminals based in Cuba, Thailand, and Malaysia, who used them for a variety of digital crimes, including:
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Digital arrest scams
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Task-based frauds
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Online betting
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OTP and phishing scams
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Hawala transactions and crypto laundering
Initially, the accused charged ₹7–17 lakh per account. Eventually, they moved to a commission-based model and reportedly earned ₹10 crore from the operation. Most of the accounts were used briefly — just long enough to funnel money and move it through layered transactions, including cryptocurrency wallets.
Authorities became alert after hundreds of complaints were filed on the National Cyber Crime Reporting Portal, leading to over 2,500 cases, including 265 from Gujarat alone. The police have now frozen the accounts and arrested all three accused, recovering digital evidence and mobile phones.
This case highlights the alarming ease with which personal data can be exploited and used as infrastructure for global cyber fraud and the pressing need for secure digital identity practices and public vigilance.
As cyber threats become more intricate and globalized, financial literacy and digital hygiene are no longer optional , they are essential pillars of our collective cyber defense.
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