Abstract:In a recent operation, Brickfields district police chief ACP Amihizam Abdul Shukor reported the arrest of 24 local men, 32 local women, along with a foreign man and woman. The age range of those apprehended spans from 20 to 59 years. The raid resulted in the confiscation of 50 laptops, four mobile phones, nine computer tables, one wifi modem, and two investment banners.

On October 20, 2023, the police apprehended 58 individuals suspected of participating in an online forex investment scam at three different business premises in Bangsar.
Brickfields district police chief ACP Amihizam Abdul Shukor disclosed that among those arrested, there were 24 local men, 32 local women, as well as a foreign man and woman. Their ages ranged from 20 to 59. During the operation, law enforcement confiscated 50 laptops, four mobile phones, nine computer tables, one wifi modem, and two investment banners.


According to ACP Amihizam Abdul Shukor, their investigations revealed indications of an online forex investment scam. The syndicate utilized social media platforms to promote and offer these investments, targeting victims from various countries, including Malaysia, Vietnam, China, the Philippines, Singapore, and Europe. As part of the ongoing investigation, all suspects have been remanded until Monday, and they face charges under Sections 420, 511, and 120(B) of the Penal Code.


The Intelligence Fusion and Strategic Operations (IFSO) unit of the Delhi Police has cracked down on a cyber fraud network following an INR 3.9-crore loss faced by a businessman through as many as 149 unauthorised transactions. According to the news report, the racket allegedly laundered the user's funds through many channels: mule accounts, cash withdrawals and hawala before converting it into USDT cryptocurrency using a foreign exchange application. So far, seven people have been nabbed by the IFSO.

Former Reserve Bank of India (RBI) Governor Raghuram Rajan has cautioned against trying to hold the rupee at a specific level by drawing down foreign exchange reserves, arguing that some currency weakness can be tolerated in the current environment. According to The HinduBusinessLine, which reported his interview with Reuters on Tuesday, Rajan said India should not "fixate on a number" for the currency or run down reserves to defend it. The rupee has lost about 6 per cent of its value so far in 2026, making it the second-worst performing currency in Asia, and it hit a record low of 96.96 in May, the report said. For forex beginners, USD/INR is the price of one US dollar in Indian rupees, so a rising number means the rupee is weakening.

JARDEN, a Seychelles-based brokerage firm, is receiving a common but critical complaint. This is about the alleged tax payment demand by the broker in return for unfreezing withdrawals for its clients. Complaints have come from Colombia and the United Kingdom on broker evaluation platforms such as WikiFX. In this JARDEN review, we have examined this common allegation and shared whether the broker is regulated.

In yet another round of arrest in connection with the alleged pan-India cyber fraud and digital arrest case involving transactions worth INR 30,000 crore, the Enforcement Directorate (ED) nabbed Mukesh Kumar Pukhraj Jain Alias Mukesh Bhai, according to the sources. The sources further revealed that Mukesh was presented before a special Prevention of Money Laundering Act (PMLA) court in Panaji on October 16, 2026. The court sent him to ED custody until October 19, 2026. The total number of arrests has thus gone up to six with the latest action by the ED.