A major cyber fraud racket allegedly involving transactions worth approximately ₹900 crore has been uncovered in Goa, with the Mumbai Police Crime Branch arresting 12 men from a rented luxury villa in Candolim.

According to details of the investigation, the accused were allegedly operating a round-the-clock money-laundering network from Casa De Nicole, posing as tourists while using the property as a base to process funds through thousands of mule bank accounts across India.

The raid was conducted on August 4, 2026, following intelligence inputs linked to a fictitious corporate office in South Mumbai. During the operation, investigators seized laptops, mobile phones and dozens of banking kits allegedly used to facilitate the transactions.

The probe has reportedly linked the seized material to at least 186 registered cybercrime cases across the country, pointing to the possible scale of the network's operations.

Investigators suspect that the gang used multiple bank accounts to move money linked to cyber fraud, making it difficult to trace the funds and identify their ultimate beneficiaries.