The Hyderabad cybercrime police arrested eight people who were part of a gang that opened 127 fake or “mule” bank accounts across multiple banks. These accounts were then sold to cyber fraudsters operating from outside Telangana. The fraudsters used these accounts to move money they stole from people through online scams.
Through these accounts more than ₹24 crore was routed. Almost all the money was rapidly withdrawn, leaving only ₹16 lakh that could be frozen by the police. These mule accounts have been linked to 21 cybercrime complaints registered in Telangana, Karnataka, and Rajasthan.
How the Gang Operated?
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The gang started in October 2023.
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Jagadish, an auto driver, met a man named Kannaiah from Rajasthan.
Kannaiah told him he would pay ₹10,000 for each bank account created. -
Jagadish opened a bank account using his own Aadhaar and PAN, gave all the documents and ATM card to the fraudsters, and got paid.
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Seeing how easy it was, he opened more accounts using the details of his wife, mother, relatives, and friends.
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He then teamed up with Sunil Kumar and recruited more people.
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More members joined, including a delivery agent, another auto driver, and others, who were paid ₹1,500–₹3,000 per account.
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One member, Balaji Nayak, who worked at Karur Vyshya Bank, even helped them open the accounts.
- All ATM cards, passbooks and cheque books were sent by courier to the main fraudsters who are still absconding (missing).
During the raid, police seized several items, including passbooks, ATM cards, cheque books, SIM cards, and mobile phones. They also recovered courier receipts used to send account kits, along with a biometric device, a tablet, and notebooks containing detailed information about the accounts.
The police urged the public to remain cautious, advising people never to open bank accounts on behalf of others and to avoid sharing sensitive information such as Aadhaar, PAN, ATM cards, or passwords.