Operation Chakra-II

Why is in news? Operation Chakra-II: CBI cracks 2 more financial cases

The Central Bureau of Investigation (CBI), as part of its ‘Chakra-II’ operation, has achieved a major breakthrough in two more cases involving an international online investment fraud worth hundreds of crores targeting Indians and a cyber-enabled impersonation racket in which Singaporean citizens were cheated.

The first case was registered by the agency last year, based on inputs from sources, including the Indian Cyber Crime Coordination Centre (I4C).

As alleged, the accused based abroad cheated Indian citizens on the pretext of investment, loans, and job opportunities.

About the operation:

The operation is aimed at combating and dismantling infrastructure of organized cyber-enabled financial crimes in India.

The CBI conducted it jointly with national and international agencies and private sector giants.

The CBI will share the details of the cases with international law enforcement agencies including the FBI, INTERPOL, NCA in UK, Singapore Police and BKA of Germany to combat organized crime.

Operation Chakra-1 was conducted a year ago, which was aimed at curbing the growing menace of high-tech frauds and scams.

The operation brings the culprits to book and thus acts as a deterrent for potential scammers while also spreading awareness among citizens about such predatory schemes.

Moreover, the active collaboration with global agencies reinforces India’s image of leading the fight against cybercrime which has huge security implications. It also opens doors for enhanced international police cooperation.

Operation Chakra 2 is a major leap in India’s efforts to tackle organized cyber crimes that cost citizens and businesses huge sums annually.

While Chakra 1 targeted tech support scams, the latest operation reveals the agency’s prowess in unearthing complex pan-India and international fraud networks spanning fake cryptocurrencies, deceitful call centers, shell firms, and hawala transactions.

The CBI has clearly upped the ante in collaborating with global agencies through Chakra 2.

More such joint operations replicating the success of the Chakra series will go a long way in creating a safer digital ecosystem and boosting public confidence. However, citizens also need to remain vigilant of online scams at their end.