The Central Bureau of Investigation (CBI) has launched a significant crackdown on a sprawling cyber fraud network, uncovering a staggering 8.5 lakh “mule” bank accounts spread across more than 700 branches of various banks throughout India. This massive operation highlights the sophisticated and widespread nature of financial cybercrimes in the country.
The CBI registered a case last month following the discovery of these numerous mule accounts, which are illicitly used to transfer funds obtained through various fraudulent schemes. As part of their initial actions, the CBI has already arrested three individuals for their active involvement in allegedly facilitating the operation of these accounts.
These mule accounts were instrumental in laundering the proceeds of a wide array of cybercrimes, including “digital arrest” scams, impersonation frauds, deceptive online advertisements, and elaborate investment scams. The network’s complexity underscores the challenges faced by law enforcement in tracking and dismantling such operations.
CBI’s investigation has so far identified 37 accused persons. These individuals include those operating as mule account holders, as well as middlemen and agents who facilitated the illicit transactions. Disturbingly, the probe has also revealed the alleged collusion of some bank employees who knowingly assisted cyber-criminals in their fraudulent activities.
The CBI’s ongoing efforts aim to dismantle this extensive network, recover illicitly gained funds, and bring all perpetrators to justice. This crackdown serves as a stark reminder of the persistent threat of cyber fraud and the critical need for vigilance among citizens and financial institutions.
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