Cyber Police bust major mule account racket in Valley

Srinagar, April 23: In a significant crackdown on cyber fraud, the Cyber Police Station Kashmir Zone, Srinagar, has uncovered a new modus operandi involving the establishment of mule bank accounts. These accounts serve as conduits for the transfer and receipt of unlawfully obtained funds on behalf of cyber fraudsters, targeting vulnerable segments of society including homemakers, economically disadvantaged individuals, auto-rickshaw drivers, labourers, and local vendors.
According to Cyber Police officials, the funds, often acquired through online fraudulent means such as investment scams, online gaming apps, phishing, or identity theft, are discreetly funneled between multiple accounts to avoid detection. Perpetrators, operating from outside the UT of Jammu and Kashmir, entice potential victims through emails, chat rooms, or social media, offering incentives in exchange for renting out their bank accounts. Once ensnared, victims unwittingly facilitate illegal transactions through mule bank accounts, transferring money to the criminals’ primary accounts.
In response, the Cyber Police Station Kashmir Zone, Srinagar, has filed a case vide FIR No. 10/2024 under relevant legal provisions and initiated a comprehensive investigation.
“Subsequent inquiries have revealed numerous mule accounts operating across various districts of the Kashmir Zone, with transactions totalingcrores of rupees,” stated a Cyber Police official.
Four persons from Srinagar city have been implicated in orchestrating and managing these mule bank accounts, as well as enticing unsuspecting individuals to partake in these illicit activities. The accused persons identified as Sajad Ahmad Rah, Tawqair Ahmad Bhat, Ubaid Ahmad Rah, and Amir Rah have been arrested.
Commenting on the matter, Cyber Police Kashmir urged the public to remain vigilant against falling prey to such fraudulent schemes.
“Fraudsters often exploit unsuspecting individuals through personal or social media platforms, offering promises of rewards, incentives, or ‘work from home’ opportunities,” emphasized the Cyber Police spokesperson.
Participation in money mule activities is unlawful and carries severe legal repercussions, including imprisonment. Prompt reporting to the authorities is essential if individuals suspect being victimized by money laundering or inadvertently engaging as a money mule.