In a major breakthrough, the Central Bureau of Investigation (CBI) arrested three persons for their active role in allegedly facilitating the operation of mule bank accounts which were used to transfer the proceeds of crimes generated through digital arrest scams, impersonation, fraudulent advertisements, investment frauds and other related cyber offences. Last month, the CBI had registered a case after it was learnt that 8.5 lakh mule accounts were opened in more than 700 Branches of various banks across India.
Last month, the CBI had registered a case after it was learnt that 8.5 lakh mule accounts were opened in more than 700 Branches of various banks across India. Mule bank accounts were being used in cyber frauds involved in digital arrest scams, impersonation, fraudulent advertisements, investment frauds and UPI-based financial frauds to transfer the cyber fraud amounts from the accounts of the victims.
In the said case, the CBI had conducted searches at multiple locations across India on Wednesday and has seized voluminous incriminating evidence including mobile phones, bank account opening documents, transaction records and KYC papers. The agency had identified 37 accused persons who were operating as mule account holders and middlemen/ agents and bank employees who knowingly colluded with cyber-criminals to open and operate mule accounts used for receiving, transferring and withdrawing proceeds of cyber frauds.
"The CBI has adopted a strategic approach in the fight against cyber-crime, focusing on targeting the key pillars of the cyber-crime infrastructure. The first pillar is the financial infrastructure, involving mule accounts, unauthorized payment gateways and the wider fin-tech ecosystem misused by cyber-criminals. The second pillar is the telecom/ communication infrastructure involving mule SIM cards, point-of-sale (PoS) agents facilitating illegal SIM activations and networks supplying such SIM cards. The third pillar is the human resource network which consists of organized syndicates engaged in the recruitment and exploitation of people for executing cybercrimes, otherwise what is now known as ‘cyber slavery’. The third pillar most of the times operates outside the boundaries of India," said a CBI official.
