On 10 July 2026 FIU-IND was declared Runner-up at the Best Egmont Case Award (BECA) 2026 in Baku for its analysis of a large‑scale cyber fraud and money‑laundering network involving about ₹868 crore.
Case summary
- Nature of case: Cyber fraud combined with money‑laundering through bank mule accounts and cross‑border cryptocurrency flows.
- Proceeds involved: Approximately ₹868 crore identified as alleged illicit proceeds.
- Transactional footprint: Over 5,000 mule bank accounts and complex cryptocurrency transactions including USDT.
- Trigger: Investigation initiated from intelligence inputs received from the Indian Cyber Crime Coordination Centre (I4C).
Operational outcomes
- International cooperation: Financial intelligence exchanged with multiple counterpart FIUs via the Egmont Secure Web (ESW).
- Enforcement action (10 July 2026): Directorate of Enforcement conducted searches at 13 locations.
- Seizures and attachments: Cash ₹47 lakh; cryptocurrency (USDT) ≈ ₹13.6 crore; assets attached ≈ ₹8.67 crore.
- Prosecution: Two prosecution complaints filed under the Prevention of Money Laundering Act, 2002 (PMLA).
IASPOINT Booster Facts
- FIU-IND: India’s national Financial Intelligence Unit under the Department of Revenue, Ministry of Finance.
- Egmont Group: Global network of FIUs facilitating secure exchange of financial intelligence; BECA recognises notable FIU casework.
- Egmont Secure Web (ESW): Encrypted platform used by FIUs for case‑level cooperation.
- PMLA, 2002: Principal statute for prosecution of money‑laundering offences in India; ED is primary investigating agency for PMLA offences.