New Delhi: Delhi Police’s cyber unit has arrested five persons, including a relationship manager of a private bank, in connection with an alleged cyberattack on a non-banking financial company that resulted in unauthorised digital withdrawals totalling approximately ₹12.84 crore, officials said on Friday.
How the alleged fraud unfolded
According to the investigating team, the suspected compromise led to 317 unauthorised transactions from the NBFC’s accounts. The proceeds were initially routed through 34 bank accounts before further layering was attempted, the police said. Investigators have placed about ₹1.7 crore on hold so far.
| Detail | Figure |
|---|---|
| Alleged amount siphoned | ₹12.84 crore |
| Unauthorised transactions | 317 |
| Bank accounts used | 34 |
| Amount frozen | ₹1.7 crore |
| Persons arrested | 5 |
Probes into alleged links and methods
Investigators said they were examining an alleged connection to Dubai and monitoring messaging groups on Telegram that are reportedly linked to actors in China. The probe is also looking into the conversion of some of the alleged proceeds into USDT, a dollar-pegged stablecoin commonly used in cryptocurrency transactions.
Officials described the matter as complex, involving elements of server compromise, payment-fraud techniques and suspected insider assistance. The involvement of a bank employee as an accused has prompted investigators to scrutinise employee access logs and internal controls alongside transaction records, they said.
- Server compromise and payment-fraud vectors are under forensic review.
- Investigators are tracing beneficiary graphs and the flow of funds through multiple accounts.
- Blockchain tracing is being used to follow amounts allegedly converted into USDT.
Wider implications for financial-sector security
Law-enforcement sources noted that the case combines technical intrusion, possible insider facilitation, use of mule accounts and conversion to cryptocurrency — a blend that complicates timely detection and response.
Experts and incident-response practitioners often advise that detection of such incidents requires coordinated analysis across security-operation-centre telemetry, banking transaction logs and employee-access records from the outset. The police said these investigative avenues are being actively pursued in the present case.
Related developments in cyber and telecom policing
The same day, authorities reported other cyber-security moves and arrests that indicate an intensifying effort to tackle digital crime. The Central Industrial Security Force has signed a memorandum of understanding with a technical institute to train personnel in cyber-defence and digital forensics, and Bidhannagar cyber police detained multiple individuals linked to a fraudulent telecom SIM supply chain.
In the telecom matter, cyber police arrested three point-of-sale agents and five SIM-collection agents as part of a probe into illicit SIM distribution networks, according to official releases.
Investigations in the NBFC matter are ongoing. Authorities said they will continue tracing the full extent of accounts used, the role of each accused and any international nexus underlying the alleged operation.
Police said digital forensics, transaction tracing and cooperation with banks and cryptocurrency-tracing specialists are central to progressing the inquiry.
Further disclosures, including formal charges and the identities of the arrested persons, will be made as the investigation advances and court procedures permit, the police added.
