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News18
9 hours ago
- News18
CBI Cracks Down On Cybercrime: 9 Arrested, 8.5 Lakh Mule Accounts Uncovered
Last Updated: CBI's inquiry found that over 700 branches of various banks across India had opened around 8.5 lakh mule accounts, often without proper KYC norms or Customer Due Diligence The Central Bureau of Investigation (CBI) has launched a nationwide crackdown on cybercrime, conducting coordinated searches at 42 locations across five states: Rajasthan, Delhi, Haryana, Uttarakhand, and Uttar Pradesh. Dubbed Operation Chakra-V, the exercise aims to dismantle the infrastructure behind cybercrimes, particularly those involving mule bank accounts. According to sources, CBI's investigation has revealed that organised scammers were using mule bank accounts to transfer proceeds of cyber frauds, including digital arrest scams, impersonation, fraudulent advertisements, investment frauds, and UPI-based financial frauds. These fraudsters were being aided by certain bank officials, agents, aggregators, bank correspondents, middlemen, and e-Mitras who were facilitating the opening of mule accounts. CBI's inquiry found that over 700 branches of various banks across India had opened around 8.5 lakh mule accounts, often without proper KYC norms or Customer Due Diligence. Branch managers had also failed to conduct Enhanced Due Diligence on suspicious transaction alerts. Some banks had not sent acknowledgement letters to customers to verify their addresses. During the searches, the CBI has seized incriminating documents, digital evidence, mobile phones, bank account opening documents, transaction details, and KYC documents. Nine accused individuals, including middlemen, agents, aggregators, account holders, and bank correspondents, were arrested for their involvement in opening and facilitating mule bank accounts. The 9 arrested accused are: Lovkesh Shakya (Delhi) Savan Kumar (Delhi) Vishal (Delhi) Farman Beg (Uttarakhand) Purushottam (Uttarakhand) Shubham Kamboj (Uttar Pradesh) Umardeen (Uttar Pradesh) Yousuf (Rajasthan) Ashok Kumar (Rajasthan) The CBI's action is part of the Government of India's ongoing commitment to deal with cybercrimes and their perpetrators sternly. The agency is working to dismantle the infrastructure behind these offences and bring those responsible to justice. First Published: June 27, 2025, 03:23 IST
Time of India
10 hours ago
- Business
- Time of India
8.5 lakh mule bank accounts used by cyber frauds, CBI raids 42 places
New Delhi: The CBI said on Thursday that it detected around 8.5 lakh mule bank accounts across over 700 branches of different banks, which were being used by cyber scammers. The agency filed an FIR and conducted raids at 42 locations in Delhi, UP, and Rajasthan in connection with the use of these mule accounts in cyber frauds. Nine individuals, including three Delhi residents named Lovkesh Shakya, Savan Kumar, and Vishal, were arrested. Farman Beg and Purushottam from Uttarakhand, Shubham Kamboj and Umardeen from UP, and Yousuf and Ashok from Rajasthan are also among those who have been arrested so far. The CBI's action comes as part of its operation Chakra V. The CBI initially registered a preliminary inquiry to unearth the conspiracy involving mule accounts, the role of bankers, and the middlemen. "The inquiry revealed that more than 700 branches of various banks across India opened around 8.5 lakh mule accounts. These accounts were opened without proper KYC norms, customer due diligence, or initial risk assessment," the CBI's statement said. You Can Also Check: Delhi AQI | Weather in Delhi | Bank Holidays in Delhi | Public Holidays in Delhi The branch managers of the banks also failed to conduct enhanced due diligence for certain suspicious transaction alerts generated by the systems. Some of the banks also failed to send acknowledgements to customers, which would have indirectly verified the addresses of the account holders. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo The guidelines issued via the RBI master circular and certain internal guidelines issued by the banks were also violated," the statement added. Hence, an FIR was registered for offences of criminal conspiracy, cheating, forgery, and use of forged documents, as well as for criminal misconduct by bank officials under the Prevention of Corruption Act. During the searches, several incriminating documents, digital evidence, mobile phones, bank account opening documents, transaction details, and KYC documents were seized. Individuals, including middlemen involved in opening mule bank accounts, were also identified. These accounts, the CBI said, were being used in a range of crimes, including those carried out by impersonation, fraudulent advertisements, investment traps, and UPI-based financial baits. "The cyber fraudsters are being helped by the commissions and omissions of certain bank officials, agents, aggregators, bank correspondents, middlemen, and e-Mitras who are facilitating the opening of mule accounts used for receiving and transferring proceeds of cyber frauds as well as enabling withdrawals from such accounts," the agency said.
