Bengaluru, April. 09: Fraudsters involved in investment fraud cases are illegally transferring illegal money through online gambling platforms to evade police investigation. Investigators say that the illegal transactions are taking place due to increased contact between fraudsters and online gambling operators, where each transfer is between Rs 2,000 and Rs 2,500 and each transaction is carried out using the single debit, multiple credits (SDMC) mechanism.
The fraudsters transfer the scam money to those who win on gambling apps, a senior cyber crime officer told The New Indian Express. In return, they receive cryptocurrency, mainly through USDT, with around Rs 20 lakh being illegally transferred to 600-800 individual bank accounts in a recent case in the city.
Each transaction, ranging from Rs 2,000 to Rs 2,500 per transfer, was carried out using a single debit, multiple credits (SDMC) mechanism. These transactions make it difficult to trace the source of funds, officials say.