FIU-IND had uncovered sophisticated money laundering network involving cyber fraud proceeds of approximately ₹868 crore, more than 5,000 mule bank accounts, and complex cryptocurrency transactions spanning multiple jurisdictions

The Financial Intelligence Unit–India (FIU-IND) has earned another significant international recognition with its case regarding a large-scale cyber fraud, securing the Runner-uppositionat the prestigious Best Egmont Case Award (BECA) 2026, presented during the Egmont Group Plenary held in Baku, Azerbaijan, under the dynamic leadership of Shri Amit Mohan Govil, Director, FIU-IND.

The Best Egmont Case Award is one of the highest recognitions within the Egmont Group, acknowledging outstanding operational cases that demonstrate excellence in financial intelligence, international cooperation and contribution to combating money laundering and terrorist financing. FIU-IND's case was selected as one of only two finalist cases among submissions from the Egmont Group's 182 member jurisdictions before being adjudged the Runner-up at the Plenary.

The case originated from intelligence shared by the Indian Cyber Crime Coordination Centre (I4C) regarding a large-scale cyber fraud. Subsequent financial intelligence analysis by FIU-IND uncovered a sophisticated money laundering network involving cyber fraud proceeds of approximately ₹868 crore, more than 5,000 mule bank accounts, and complex cryptocurrency transactions spanning multiple jurisdictions.

The investigation demonstrated the critical role of international cooperation through the Egmont Secure Web (ESW), with FIU-IND exchanging financial intelligence with multiple counterpart Financial Intelligence Units to trace cross-border cryptocurrency transactions and identify the global money laundering trail. This timely intelligence sharing significantly strengthened the investigation and highlighted the importance of international collaboration in addressing transnational financial crime.

Based on FIU-IND's Operational Analysis Report, the Directorate of Enforcement (ED) initiated extensive enforcement action, conducting searches at 13 locations, seizing ₹47 lakh in cash and cryptocurrency (USDT) valued at approximately ₹13.6 crore, attaching assets worth ₹8.67 crore, and filing two Prosecution Complaints under the Prevention of Money Laundering Act (PMLA), 2002.

The recognition reflects 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, robust domestic coordination and effective international intelligence sharing.

Cyber fraud-linked money laundering exposed through financial intelligence, cross-border crypto tracing and coordinated anti-money laundering action. FIU-IND's operational analysis of cyber fraud intelligence identified a large-scale money laundering network involving cyber fraud proceeds, thousands of mule bank accounts and complex cryptocurrency transactions across multiple jurisdictions. The case showed the use of financial intelligence analysis and Egmont Secure Web cooperation to trace cross-border crypto flows and the global money-laundering trail. Based on FIU-IND's report, enforcement action included searches, seizure of cash and cryptocurrency, attachment of assets and filing of prosecution complaints under the Prevention of Money Laundering Act.