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ED Arrests Two Under PMLA in Rs 417 Cr Cyber Fraud Network with 163 FIRs Across 20 States

Target:UPSC GS-IIIMPSCSSC GATeachingPrelims HighMains MediumStatic GK Link
24 Aug 2026
~2 min
Source: Indian Express
Key Data:Rs 417.49 crore aggregate loss330 victims163 FIRs20 States/UTsRs 2.6 crore (Goa victim)Rs 3.25 crore cash seized
Bodies:Enforcement DirectorateGoa PoliceReserve Bank of IndiaGoa Court
Practice MCQs from today's news ▸
What This Article Covers

1.ED arrested two individuals under PMLA Section 19 for a money laundering probe linked to a digital arrest case in Goa where a woman lost Rs 2.6 crore.

2.The network involved 330 victims, 163 FIRs across 20 states/UTs, and aggregate loss of Rs 417.49 crore, with funds routed through shell companies and forex entities.

3.Searches at 20 premises in Mumbai and Goa led to seizure of Rs 3.25 crore cash, digital devices, and records; banking transactions of entities exceeded Rs 27,850 crore.

The Big Picture
Prelims · HighMains · Medium

ED's probe into a Goa digital arrest case uncovers a massive pan-India cyber fraud network involving 330 victims, Rs 417 crore loss, and 163 FIRs across 20 states. The network used shell companies, licensed money changers, and bulk cash deposits to launder proceeds. This is a critical case for understanding PMLA enforcement, cyber crime modus operandi, and money laundering techniques.

Exam Lens

Quick Exam Facts From News

Total Victims330
Aggregate LossRs 417.49 crore
FIRs Filed163 across 20 states/UTs
Goa Victim LossRs 2.6 crore
Cash SeizedRs 3.25 crore
Entities' Banking TransactionsRs 27,850 crore
Bulk Note Acceptance Machine Transactions61,448 transactions (Rs 584.70 crore)
Premises Searched20+ in Mumbai and Goa
Arrests Made2 (Fahim Moin Hussain Sayed and Naim Mueen Sayyed)

1-Minute Revision

  • ›Total Victims: 330
  • ›Aggregate Loss: Rs 417.49 crore
  • ›Target this Data: 330 victims, Rs 417.49 crore loss, 163 FIRs across 20 States/UTs, Rs 2.6 crore Goa victim loss, Rs 3.25 crore cash seized, 61,448 BNAT transactions.
  • ›Target this Nodal Body: Enforcement Directorate (ED) under Ministry of Finance, PMLA 2002.
  • ›Target this Legal Point: Section 19 of PMLA (arrest without warrant) and Section 17 (search and seizure).

Mastered this topic? Test your knowledge with a full MCQ quiz.

Practice exam-style questions, track your score, and strengthen your recall.

Q1Static LinkageEasy

Under which Act were the two individuals arrested by the Enforcement Directorate as mentioned in the news?

Q2Statement-basedHard

Consider the following statements regarding the cyber fraud network uncovered by the ED:

1. The network involved 330 victims and 163 FIRs across 20 states and Union Territories.

2. The total loss reported is over Rs 400 crore, but the aggregate loss mentioned in the article is exactly Rs 417.49 crore.

3. The money was laundered solely through cash transactions without any use of banking channels.

Which of the statements given above is/are correct?

Q3Data-centricMedium

According to the article, what is the total number of bulk note acceptance machine transactions through which approximately Rs 584.70 crore was deposited?

Q4Application/ImpactMedium

What was the primary modus operandi used by the fraudsters to convert the proceeds of cyber crime into foreign currency?

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