The Cyber Police Station, Kashmir Zone, Srinagar in Jammu and Kashmir have investigated a new modus operandi, where individuals are involved in setting up mule bank accounts. These accounts serve as channels for the receipt and transfer of unlawfully obtained funds on behalf of cyber fraudsters.
Police said that such activities are pivotal to organized fraud operations targeting vulnerable segments of the society including homemakers, the economically disadvantaged, auto-rickshaw drivers, labourers and local vendors.
The funds, often acquired through online fraudulent means such as investment scams, online gaming apps, phishing or identity theft are discreetly shuffled between multiple accounts to evade detection. Perpetrators, operating from outside the UT of Jammu and Kashmir, lure potential victims through emails, chatrooms or social media, offering inducements in exchange for renting out their bank accounts. Once trapped, victims unknowingly help in illegal transactions through mule bank accounts, sending the money to the criminal’s main accounts.
Acting upon the matter, Cyber Police Station Kashmir Zone Srinagar, has filed a case under relevant legal provisions and initiated a comprehensive investigation. Subsequent enquiries have revealed numerous mule accounts operating in various Districts of Kashmir Zone, with transactions totalling crores of rupees. Four individuals from Srinagar city have been identified as orchestrating and managing these mule bank accounts, as well as enticing unsuspecting individuals to participate in these illegal activities.
According to officials, the Cyber Police Kashmir urges the public to remain vigilant and guard against falling victim to such fraudulent schemes. Fraudsters often exploit unsuspecting individuals through personal or social media platforms, dangling promises of rewards, incentives, or ‘work from home’ opportunities.
Disclaimer: This press release is sourced from News On AIR, Prasar Bharti and Press Information Bureau India (PIB).
