Police in Belagavi, Karnataka, have uncovered a large cyber fraud network using 2,900 mule bank accounts to funnel fraudulent transactions. The fraudsters target unemployed youth and women with promises of easy commissions, persuading them to share or open bank accounts used for illegal fund transfers.
Bihar Police arrested 141 people in a state-wide crackdown on mule bank account networks allegedly used for cyber fraud. The operation, 'Cyber Prahar 2.0', led to the registration of 86 FIRs and uncovered collusion by bank employees.
Security agencies have uncovered a vast network of 'mule accounts' in Jammu and Kashmir used to launder money for global scams, raising concerns about potential links to separatist activities.
Kota police, under the 'Mule Hunter' campaign, have arrested two individuals for allegedly committing online fraud, targeting victims as far away as Murshidabad, West Bengal. The arrests followed an analysis of suspected mule accounts and mobile numbers, revealing fraudulent transactions and prompting charges under the Bharatiya Nyaya Sanhita and the IT Act.
Delhi Police arrested a 22-year-old woman for allegedly providing mule bank accounts to an interstate cybercrime network, recovering numerous ATM cards, cheque books, and electronic devices.
Financial Services Secretary M Nagaraju has urged banks to adopt the MuleHunter AI tool developed by RBI to identify and prevent mule accounts used in cyber financial frauds. The meeting also discussed 'Operation Octopus' by Hyderabad Police and emphasised coordinated efforts and intelligence sharing.
Gujarat cyber police have arrested 13 individuals allegedly involved in a network responsible for 982 cyber crimes across India, resulting in losses of over Rs 631 crore.
Kanpur Police have dismantled a sophisticated cyber fraud syndicate, arresting eight individuals, including five bank officials, for facilitating mule accounts and hawala transactions worth Rs 125 crore.
Delhi Police have dismantled a cyber fraud syndicate involved in providing mule bank accounts, arresting 14 individuals across multiple locations. The syndicate allegedly supplied bank accounts, SIM cards, and ATM cards to fraudsters running fake investment schemes and online job scams, laundering the proceeds through these accounts.
Delhi Police have arrested five individuals for allegedly supplying mule bank accounts to cyber fraud syndicates with links to Dubai. The arrests follow a complaint regarding a stock market investment scam where the victim was duped of over Rs 12 lakh.
Delhi Police dismantled multiple interstate cyber fraud syndicates in a month-long operation, arresting 35 and bringing 89 offenders to justice. The syndicates were involved in various scams, including digital arrest, investment fraud, and fake dating schemes, with transactions worth nearly Rs 40 crore.
Telangana police have dismantled a large network operating illegal mule bank accounts used for fraudulent financial transactions, arresting 13 suspects and uncovering transactions worth approximately Rs 138 crore.
Delhi Police have arrested three men for allegedly operating a mule account syndicate that routed over 1.5 crore of cyber fraud proceeds through layered transactions.
Delhi Police have dismantled an interstate cyber fraud syndicate with links to foreign operators in Cambodia, arresting eight individuals involved in an online investment scam. The accused, including those with advanced educational qualifications, allegedly defrauded a complainant of Rs 24 lakh through a fake online trading platform.
Hyderabad Police Commissioner V C Sajjanar convened a meeting with bankers to address the misuse of bank accounts in cyber frauds and implement preventative measures, following 'Operation Octopus' which dismantled cyber fraud networks and led to arrests of complicit bank officials.
Hyderabad Police Commissioner V C Sajjanar has proposed a Joint Working Group with the RBI and banks to address the issue of mule bank accounts used in cyber fraud. The proposal follows 'Operation Octopus,' which exposed vulnerabilities in KYC verification. Sajjanar also recommended strict directives for banks to fix accountability and adopt advanced technology to detect suspicious transactions.
Sonbhadra police have arrested five individuals from Rajasthan for operating an inter-state cyber crime racket involving blackmail, extortion, and impersonation, which allegedly led to a man's suicide.
Delhi Police dismantled a cyber fraud facilitation network involving mule bank accounts and shell companies, arresting two dummy directors after detecting a fund flow of over Rs 16 crore within eight days.
Hyderabad Police have apprehended 66 individuals linked to a nationwide 'ghost' SIM card network, connected to 76 cybercrime cases involving over Rs 101 crore.
Gujarat police have dismantled a Rs 77 crore cyber fraud operation with links to 375 cases nationwide, arresting 16 individuals and uncovering international connections.
Delhi Police have arrested three individuals, including a bank official, for allegedly defrauding a retired government officer of over Rs 45 lakh through a fake trading application.
Six individuals from Gujarat, Rajasthan, and West Bengal have been arrested in Goa for allegedly running an online betting racket linked to the Indian Premier League (IPL).
Hyderabad Police have dismantled a pan-India cyber fraud network, arresting 52 individuals across nine states in 'Operation Octopus 2.0'. The operation targeted bank officials, mule account holders, and middlemen involved in facilitating cyber frauds.
The regulator is also planning to widen the ambit of 'deemed fraudulent activities'.
Delhi Police busted an illegal forex trading call centre in Indore, arresting six individuals involved in defrauding victims nationwide through fake online investment schemes. The syndicate allegedly used a fake trading platform to lure people into investing in forex and online trading products, showing fabricated profits and gains.
Four individuals, including two bank managers, have been arrested in Telangana for allegedly siphoning off Rs 2.65 crore from a state-owned bank branch in Nalgonda district.
Assam police have arrested five individuals for their alleged involvement in an interstate cyber crime syndicate, focusing on SIM card fraud and identity theft.
Delhi Police have arrested six individuals involved in a transnational cyber fraud syndicate that operated fake loan applications and siphoned money through mule bank accounts.
Gujarat police have arrested eight individuals for their alleged involvement in a cyber fraud network that handled transactions worth over Rs 288 crore. The arrests were made as part of 'Operation Mule Hunt 2.0', targeting organised cyber crime.
Delhi Police arrested over 600 people and rounded up over 8,300 suspects during Operation CyHawk 4.0, a large-scale crackdown on cybercrime.
Delhi Police have dismantled a cyber fraud syndicate with connections to foreign handlers, arresting three individuals, including a bank employee. The investigation revealed the use of mule accounts, social media platforms, and cryptocurrency for illicit transactions.
Delhi Police have arrested 11 individuals involved in a cyber fraud racket operating from Delhi and Mumbai, which allegedly defrauded a senior citizen of over Rs 22 lakh with promises of high investment returns. The network is linked to international operators in Cambodia.
Patna Police arrested three individuals in two separate cyber fraud cases, involving share market investment scams and mule account operations.
Delhi Police have dismantled an interstate cyber fraud network, arresting three individuals involved in digital arrest and investment scams that defrauded victims of over Rs 80 lakh.
Delhi Police have arrested five individuals from Uttarakhand's Udham Singh Nagar for their involvement in an interstate cyber fraud racket. The syndicate supplied mule bank accounts to cyber criminals, routing cheated money from online investment and task-based scams.
Delhi Police have arrested five individuals for allegedly running an interstate cyber fraud syndicate that used mule bank accounts to launder money across India and abroad. The investigation revealed links to international handlers and the use of cryptocurrency to route funds.
Delhi Police have arrested two individuals involved in an investment scam where a local resident was cheated of Rs 1.60 lakh. The investigation has linked the accused to a broader cyber fraud network with transactions worth approximately Rs 68 lakh across multiple states.
The proposed solution is a one-hour delay for digital transactions exceeding Rs 10,000, particularly when the transfer is made to a new or unverified beneficiary. The idea is simple -- give users a window to reconsider, detect fraud or alert their bank before the funds are irretrievably transferred.
Uttar Pradesh Police have dismantled an inter-state cyber fraud racket, arresting 19 individuals involved in duping people under the guise of government welfare schemes.
The Reserve Bank of India (RBI) has proposed new measures to combat financial fraud in digital payments, including lagged credit for authorised push payments and a 'kill switch' for users to disable all digital transactions.
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