Mumbai Crime Branch Busts Illegal Call Centre, 14 Held For Forex Trading Investment Fraud

Illegal Call Centre

The Crime Branch has recently dismantled an illegal call center in Malad, north Mumbai, that deceived individuals with promises of high returns in forex trading. The operation resulted in the arrest of 14 individuals, according to an official report released on Friday.

Operating from Chincholi Bunder in Malad West, the call center was uncovered following specific intelligence gathered by Crime Branch Unit 10. The staff at the call center collected personal information from potential investors through online sources and then posed as employees of a UK-based firm called VFX Markets.

This fraudulent scheme lured numerous victims into forex trading investments, leading to substantial financial losses.

The police seized significant equipment during the bust, including 16 desktop computers, two laptops, two mobile phones, and various documents related to the illegal operations of the call center. The arrested individuals face charges under the Bharatiya Nyaya Sanhita, the IT Act, and the Maharashtra Protection of Interest of Depositors Act (MPID) for cheating and other offenses.

The official highlighted the operation’s scale and sophistication, emphasizing the need for vigilance against such fraudulent activities. The Crime Branch has urged the public to be cautious when approached by unknown individuals promising high returns on investments and to verify the legitimacy of such offers before sharing personal information or making financial commitments.

This crackdown on the illegal call center serves as a reminder of the ongoing efforts by law enforcement to combat financial fraud and protect potential investors from schemes designed to exploit their trust. The investigation is expected to continue as authorities work to identify and apprehend any additional individuals involved in this fraudulent operation.