<h1>Cyber-fraud syndicate using shell firms and mule accounts uncovered, alleged Rs 180 crore siphoned and two arrested.</h1> Investigators allege a cyber-fraud syndicate used at least 20 shell companies and mule accounts to receive and layer cheated funds of about Rs 180 crore; a FIR filed on November 19 and operation 'Cy-Hawk' linked 176 complaints to these accounts, digital evidence showed a director acted as a front while two suspects controlled transfers, leading to two arrests and seizure of electronic devices as the probe concentrates on transactional layering and money laundering-related conduct.