Officials said the investigation also found that funds were allegedly withdrawn in cash through multiple bogus or non-existent entities, further indicating the suspected use of shell entities for routing and layering the proceeds generated through the fraudulent ITC transactions

The Enforcement Directorate has arrested two Mumbai men in a money laundering probe into an alleged pan-India cyber fraud and digital arrest network. The agency suspects bank transactions worth Rs 27,000 crore and cash dealings of Rs 3,000 crore linked to the network