Three guys have been nabbed by the CBI for allegedly exploiting mule accounts to siphon off Rs 3.81 crore through internet fraud in a single day, officials announced on Sunday.
According to the agency, agents Yash Thakur and Shaurya Sunilkumar Singh have been placed in judicial custody and mule account holder Sudhir Bhaskar Palande has been detained.
Following a tip, the CBI arrested a mule account holder, as well as anonymous cybercriminals, bank employees, and others, for allegedly engaging in cybercrime by siphoning off Rs 3.81 crore from many victims on July 2.
Scammers use mule accounts, which are bank accounts, to transfer illegal funds.
According to a CBI official, the first tier of the scheme immediately sent the profits of the crime to over 100 mule accounts located throughout India.
Before it reached the main scammers, the funds were then transferred via thousands of other accounts in a complex effort to hide its source.
“During the investigation, CBI unearthed the entire conspiracy of opening of said mule accounts by the bankers and the middlemen without proper KYC norms or customer due diligence or initial risk assessment,” the spokesperson said.
She claimed that the conduct were against the rules set down in the RBI Master circular.
Mobile phones, iPads, bank account opening paperwork, transaction data, KYC documents, and a wealth of damning documents and digital evidence were seized as a consequence of the CBI searches.
“Identification of individuals, including the middlemen involved in the opening of mule accounts in Mumbai, facilitating arrangements of stay of an account holder in Nagpur and transferring of funds to other mule accounts through agents in Nagpur, was done by the CBI,” she said.
Additionally, it was discovered that mule account holders and agents in Nagpur got bitcoin as payment for their commission, which was then divided among the other conspirators, the spokesman added.
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