Mumbai: The officials from the central government’s security and intelligence apparatus have uncovered a new financial operation by Pakistani Intelligence Operatives (PIOs) aimed at raising funds in India for terror activities and other anti-national activities. According to the intelligence sources these operatives are now conducting highly sophisticated and skilled operations for fundraising.
The PIOs are currently found involved in several types of Ponzi schemes, including fake investment plans, cryptocurrency scams, and fraudulent multi-level marketing programs, enticing people with promises of doubling their money. To execute these schemes, multiple SIM cards and benami accounts were employed, sources said.
Officials, speaking on the condition of anonymity, revealed that the PIO operatives created multiple layers within their operations through their sleeper cells and sympathizers. They hired highly skilled, jobless professionals and other individuals on payrolls to facilitate these Ponzi schemes and target various states, including Mumbai, Delhi, Bangalore, Bihar, Rajasthan, and several northern states. After collecting substantial sums of money, they shut down operations and went underground.
According to the sources, several people hired for these Ponzi schemes were professionals in such types of fraud and lottery scams and had done these crimes before. For the terror funding operations, basic funds for infrastructure were provided by PIOs through UAE hawala operations, but the huge substantial profit from the ponzi schemes were directed to ghost accounts. The PIOs used these funds for terror activities and to finance anti-national operations in India.
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Recent statistics show that investment fraud-related cybercrime cases in Mumbai have skyrocketed by over 700 percent from January to May this year, compared to the number of cases reported during the same period last year.
According to the Intel report, PIO operatives are using these Ponzi schemes in different formats. They specifically used WhatsApp data to create groups where several offers were given to the linked people. For instance, on an investment of 100 rupees, they promised a daily earning of 150 rupees based only on logging in. They lured recipients with promises of daily commissions without any effort.
Several other Ponzi schemes were offered under the guise of cryptocurrency mining, including wallet facilities and ATM services for cryptocurrencies in different jurisdictions. The funds were mainly credited through online cash transfers from different cities within the jurisdiction, and debits were made through clearing transactions in ghost accounts of ISI. The sophisticated nature of these operations and the involvement of a wide network of individuals highlight the evolving tactics of Pakistani Intelligence operatives in their efforts to fund terror activities in India.
Reliable sources have revealed a comprehensive surveillance operation, encompassing extensive interceptions, detailed banking transaction monitoring, and the meticulous examination of phone calls, emails, and encrypted communications of individuals suspected of involvement in terror financing. This rigorous data analysis from banks and financial institutions has uncovered intricate networks funneling funds to terrorist organizations through a complex web of shell companies.
The investigation has also revealed that a significant portion of these Ponzi scheme funds was diverted to support terrorist activities, exposing the fraudulent financial schemes designed to facilitate illegal operations. Moreover, interrogations of terror suspects across multiple states have unearthed a sophisticated money trail linked to terror funding. Security Agencies report that the ISI has escalated its efforts to destabilize India by strategically exploiting these schemes to generate financial resources for anti-India operations.
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