1 week ago
ED Arrests Two in Mumbai Digital Arrest Money-Laundering Case
The Enforcement Directorate is investigating an alleged online scam network.
The scammers reportedly used “digital arrest” threats to make people send them money.
One Goa resident allegedly lost Rs 2.60 crore in this way.
Investigators say the money was quickly moved through many bank accounts.
Some of it was allegedly changed into cash and foreign currency.
The network is linked to hundreds of complaints across India.
Two people from Mumbai were arrested and taken to Goa for the investigation.
The ED says its investigation is still continuing.
The Enforcement Directorate arrested Fahim Moin Hussain Sayed and Naim Mueen Sayyed in Mumbai under the Prevention of Money Laundering Act.
The case concerns an alleged pan-India cyber-fraud and “digital arrest” racket involving reported losses of Rs 417.49 crore across 330 complaints and 163 FIRs.
The alleged network reportedly routed funds through more than 400 beneficiary accounts and linked entities across 20 States and Union Territories.
The ED said proceeds were converted from banking credits into cash and then foreign currency through RBI-licensed Full Fledged Money Changers.
Searches in Mumbai and Goa led to the seizure of Rs 3.25 crore in cash, digital devices, records and statutory registers.
- Who
- The Enforcement Directorate arrested Fahim Moin Hussain Sayed and Naim Mueen Sayyed.
- What
- The arrests concern an alleged cyber-fraud, “digital arrest” and money-laundering network.
- Where
- The arrests occurred in Mumbai, while the case was registered in Panaji, Goa; the alleged network operated across 20 States and Union Territories.
- When
- The arrests were made on Sunday, August 23, 2026; the case began with a June 2025 FIR, and searches took place on July 17 and August 21, 2026.
- Why
- The ED is tracing alleged cyber-fraud proceeds that were routed through bank accounts, converted into cash and exchanged for foreign currency.
Key facts
- Reported losses
- Rs 417.49 crore across 330 victim complaints and 163 FIRs
- Arrests
- Fahim Moin Hussain Sayed and Naim Mueen Sayyed
- Initial alleged fraud
- A Goa resident allegedly transferred Rs 2.60 crore between May 21 and June 2, 2025
- Banking transactions
- Linked entities allegedly conducted transactions exceeding Rs 27,850 crore
- Cash deposits
- Around Rs 2,904 crore, including approximately Rs 584.70 crore through 61,448 BNAM transactions
- Search seizures
- Rs 3.25 crore in cash, digital devices, records and statutory registers
- Transit remand
- A special holiday court allowed the accused to be taken from Mumbai to Panaji, Goa
Sources
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