New Delhi: In what is being termed Delhi’s largest “digital arrest” fraud, 78-year-old retired banker Naresh Malhotra was duped into transferring ₹22.92 crore over six weeks. The funds were moved through 21 transactions to 16 different bank accounts across multiple states. Malhotra was manipulated by scammers posing as Enforcement Directorate and Mumbai Police officers, who controlled his actions under the guise of an investigation.

Scam Methodology:
The fraudsters employed a technique known as “layering,” wherein the stolen funds were split into seven layers and moved through 4,236 transactions. This complex process made tracing and recovering the money challenging. Delhi Police Joint Commissioner Rajneesh Gupta noted that such layering is common in digital arrest cases, complicating efforts to freeze assets and apprehend the perpetrators.

Bank Involvement:
Despite the large sums involved, bank managers did not raise alarms during Malhotra’s transactions. He continued his routine visits, transferring money under the scammers’ instructions, even withdrawing small amounts for personal expenses. The funds were moved through various banks, including Yes Bank, IndusInd Bank, ICICI Bank, Union Bank, and Axis Bank, spanning states from Uttarakhand to Tamil Nadu.

Delayed Reporting:
It took Malhotra six weeks to report the fraud, filing a complaint on September 19. By then, the funds had been extensively laundered, making recovery efforts more difficult. The delay in reporting is a significant factor in the complexity of the case.

Current Status:
As of now, ₹2.67 crore of the stolen amount has been frozen in various bank accounts. Delhi Police continue to investigate the case, working to trace the remaining funds and identify the individuals behind the scam.