KANPUR, Oct. 17 -- While tracing the money trail in a Rs.2.66-crore investment scam, police uncovered a well-organised cybercrime syndicate that had secured Corporate Internet Banking (CIB) facilities with the bulk payout feature enabled.

Two men allegedly linked to the gang were arrested on Friday, with police indicating that more arrests were likely in the coming days. The syndicate was linked to 38 complaints filed on the National Cyber Crime Reporting Portal from at least 10 states and seven FIRs registered in Delhi, Odisha, Tamil Nadu and Punjab.

Police commissioner Raghubir Lal said this was the first time a criminal gang had been found using CIB facilities with the bulk payout feature to transfer money obtained through cyber frau...