The Delhi Police has busted a cyber-fraud syndicate using shell companies and mule bank accounts, arresting two key individuals. The operation, named 'Cy-Hawk', uncovered a network that allegedly siphoned off approximately ₹180 crore through various online frauds. The syndicate reportedly floated at least 20 shell companies to launder money received from victims nationwide. The investigation began after flagged cybercrime hotspots and suspicious bank account activity were identified on the National Cyber Crime Reporting Portal.