The Central Bureau of Investigation (CBI) has carried out searches at 42 locations across Rajasthan, Delhi, Haryana, Uttarakhand, and Uttar Pradesh as part of Operation Chakra V. This major crackdown targets organised cyber fraud networks accused of operating around 8.5 lakh mule bank accounts across more than 700 branches of various banks in India.
Based on specific intelligence inputs, the CBI launched this coordinated operation to dismantle the growing use of fake bank accounts used in cyber frauds. These mule accounts are said to have enabled scams like impersonation, fake advertisements, fraudulent investment offers, and UPI-based financial frauds by allowing illegal transfers and withdrawals of money from victims.
In an official statement, the CBI said, “Central Bureau of Investigation (CBI) acting on specific source information and after verification has launched coordinated searches at 42 locations across 5 States namely Rajasthan, Delhi, Haryana, Uttarakhand and Uttar Pradesh as part of Operation Chakra-V to deal with the menace of mule bank accounts being opened by organized cyber fraudsters.”
During the raids, officials seized mobile phones, KYC documents, bank forms, and transaction records. Nine individuals including agents, bank correspondents, aggregators, middlemen, and account holders have been arrested so far. The FIR includes charges of criminal conspiracy, cheating, forgery, use of forged documents, and misconduct by bank staff under the Prevention of Corruption Act.
The investigation has also revealed the role of bank employees, agents, and e-Mitras in bypassing KYC norms and helping open these accounts without proper checks. The CBI noted that these accounts play a central role in cyber-enabled financial crimes.
Officials added, “These mule accounts are a critical component in the operation of digital arrest scams and other cyber frauds, and their disruption is vital to safeguarding public interests.”
This crackdown is part of a larger effort by the Indian government to tackle financial fraud and reinforce cybersecurity in the country.
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