FIU-IND's receives international recognition, uncovers about Rs. 868 crore of cyber fraud proceeds
New Delhi, July 11
India's Financial Intelligence Unit has received international recognition for its efforts to combat financial crime, with its investigation into a large-scale cyber fraud being named runner-up at the Best Egmont Case Award 2026, reinforcing the country's focus on strengthening financial intelligence and cross-border cooperation against money laundering.
The award was presented during the Egmont Group Plenary held in Baku, Azerbaijan. According to the Ministry of Finance, FIU-IND's case was selected as one of only two finalists from among submissions by the Egmont Group's 182 member jurisdictions before being declared runner-up.
The ministry said the recognition highlights India's growing leadership in financial intelligence and reinforces FIU-IND's commitment to strengthening the country's Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) framework through advanced operational analysis, stronger domestic coordination and effective international intelligence sharing.
The case originated from intelligence shared by the Indian Cyber Crime Coordination Centre (I4C) regarding a large-scale cyber fraud. According to the ministry, FIU-IND's financial intelligence analysis uncovered a sophisticated money laundering network involving cyber fraud proceeds of approximately Rs 868 crore, more than 5,000 mule bank accounts, and complex cryptocurrency transactions spread across multiple jurisdictions.
The ministry said the investigation demonstrated the importance of international cooperation through the Egmont Secure Web (ESW), with FIU-IND exchanging financial intelligence with counterpart Financial Intelligence Units in multiple countries to trace cross-border cryptocurrency transactions and identify the global money laundering trail.
Based on FIU-IND's Operational Analysis Report, the Directorate of Enforcement (ED) initiated enforcement action, conducting searches at 13 locations, seizing Rs 47 lakh in cash and cryptocurrency (USDT) worth around Rs 13.6 crore, attaching assets valued at Rs 8.67 crore, and filing two Prosecution Complaints under the Prevention of Money Laundering Act (PMLA), 2002, the ministry said.
According to the ministry, the international recognition reflects the growing role of financial intelligence and coordinated enforcement in tackling increasingly complex financial crimes, while strengthening India's ability to combat cross-border money laundering through closer cooperation with global partners.
— ANI
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