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United News of India
a day ago
- Business
- United News of India
Mule Bank accounts : CBI conducts nation-wide raids at 42 locations in 5 States, nine arrested
Chennai/New Delhi, June 27 (UNI) The CBI conducted nation-wide raids at 42 locations in five states and arrested nine people in connection with Mule Bank Accounts being used in Cyber frauds. In continuation of its on-going efforts to combat Cyber Crime and Digital Arrest Scams, the CBI acting on specific information and after verification launched coordinated searches at 42 locations across five States--Rajasthan, Delhi, Haryana, Uttarakhand and Uttar Pradesh--as part of the Operation Chakra-V to deal with the menace of mule bank accounts. The mule bank accounts were being opened by organized cyber fraudsters involved in digital arrest scams, impersonation, fraudulent advertisements, investment frauds and UPI-based financial frauds to transfer the cyber fraud amounts from the accounts of the victims. These 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 in opening of mule accounts used for receiving and transferring proceeds of cyber frauds as well as enabling withdrawals from such accounts. The CBI initially registered an inquiry to unearth the entire conspiracy of opening of mule accounts, the role of the bankers and the middlemen and to understand the existing bank's rules and guidelines. Inquiries revealed that more than 700 branches of various banks across India have opened around 8.5 lakhs mule accounts either without proper KYC norms or Customer Due Diligence or Initial Risk Assessment. The branch managers of the banks have also failed to conduct Enhanced Due Diligence in respect of certain suspicious transaction alerts generated by the systems. Some of the banks have also failed to send the acknowledgment/ thanking letters to customers to indirectly verify the addresses of the account holders. Since the guidelines issued vide the RBI Master Circular and certain internal guidelines issued by the banks have been violated, the CBI registered a FIR for offences of criminal conspiracy, cheating, forgery, use of forged document as genuine under IPC/BNS and also offence of criminal misconduct by bank officials under Prevention of Corruption Act. During the searches, several incriminating documents and digital evidences, mobile phones, bank account opening documents, transactions details, KYC documents have been seized and identification of individuals including middlemen involved in opening of mule bank account was done. Further nine accused have been arrested. They included middlemen, agents, aggregators, account holders, and bank correspondents for their involvement in the operation and facilitation of opening of mule bank accounts. The arrested accused are produced before the court and remanded in custody. The action is part of ongoing commitment of the Union Government to sternly deal with Cybercrimes and its perpetrators with a special emphasis on dismantling the infrastructure behind such offences. Further investigation is continuing. UNI GV 2223
India Today
2 days ago
- Business
- India Today
CBI raids 5 states in over 8 lakh mule accounts cyber fraud case, 9 arrested
The Central Bureau of Investigation (CBI) on Thursday launched a coordinated crackdown across five states as part of Operation Chakra-V, targeting mule bank accounts being used in large-scale cyber frauds. Acting on specific source information and following internal verification, the agency carried out searches at 42 locations in Rajasthan, Delhi, Haryana, Uttarakhand, and Uttar CBI arrested nine individuals during the operation. The accused include middlemen, bank correspondents, agents, aggregators, and account holders. All of them are being produced before the court, and the investigation remains investigation found that more than 8.5 lakh mule accounts were opened through over 700 branches of various banks across India. These accounts were either created without adhering to Know Your Customer (KYC) norms, customer due diligence, or initial risk assessments. During the raids, the agency seized a range of incriminating materials, including mobile phones, bank account opening documents, KYC records, transaction details, and other digital evidence. Officials identified several individuals involved in facilitating the opening of mule agency registered an enquiry to unravel the entire conspiracy behind the creation and use of these mule searches are part of an ongoing investigation into how organised cyber fraud networks are using mule accounts for digital arrest scams, impersonation frauds, fake advertisements, investment scams, and UPI-based financial CBI revealed that these operations are being aided by the deliberate or negligent actions of certain bank officials, agents, aggregators, e-Mitras, and other middlemen who help open and operate these fraudulent officials highlighted serious lapses by bank managers, including their failure to carry out Enhanced Due Diligence on suspicious transaction banks also neglected to send acknowledgement or verification letters to account holders, which would have helped confirm their physical addresses. These violations go against both RBI's Master Circular and internal bank the enquiry, the CBI registered a formal FIR invoking charges under the Indian Penal Code (IPC), Bharatiya Nyaya Sanhita (BNS), and the Prevention of Corruption Act. The offences include criminal conspiracy, cheating, forgery, and criminal misconduct by public investigation into the matter is underway.- Ends
News18
2 days 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
2 days 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.
Time of India
2 days ago
- Business
- Time of India
‘I stopped using Google Pay…': Sania Mirza's sister Anam Mirza quits UPI apps for mindful spending, sparking mixed reactions on social media
Anam Mirza, Sania Mirza 's sister, recently posted her strategy for money discipline by deleting all the UPI-based digital payment applications from her phone. It was announced through a video that was uploaded to her Instagram series called Little Changes, Big Impact , in which she described the real changes she implemented to manage expenses and create savings. In the video, Anam declared, 'This year, I stopped using Google Pay. No UPI. No instant payment. This year, I emptied my UPI accounts, deleted my UPI apps, no balance, nothing.' Her choice, she said, was to make spending less convenient and more thoughtful. Though the step made day-to-day life a little difficult at first, such as having to request friends to pay for minute things like coffee, Anam got used to it eventually. Her post went viral within no time, garnering attention not only from followers but from a greater portion of social media users talking about digital payment behaviour. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Black Friday de Hyundai Hyundai España Más información Undo Anam Mirza quits UPI for financial control As per her description in the video, Anam Mirza's first step was to remove all digital payment apps like Google Pay, literally shutting off her means of making immediate transactions. That way, she expected to avoid impulse purchases, which, in her opinion, were being facilitated by the convenience of UPI-based systems. Mixed reactions on social media Anam's declaration soon turned into a subject of discussion on Instagram and other platforms. A few people were amazed by the strategy and complimented her on posting a trick that they believed could be helpful to other users as well. Comments such as, 'Makes a big difference, been doing this since 6 months and oh boy we don't overspend now,' and 'Absolutely correct to keep control on expenses,' were left behind by the fans who repeated the success of her choice. One user posted, 'This is definitely make very very big impact for sure,' while another said, 'Little things really matter. I started doing this too. It works.' But not everyone responded positively. Many users questioned whether it was even possible to avoid UPI totally, particularly in a nation where digital payments are such an integral part of everyday life. One user commented, 'Suits you because you're already rich. Only middle-class people like us could relate, how convenient it is to have UPI. People should definitely think before doing unnecessary expenses but deleting UPI a/c for that is too much.' Another user wrote, 'Kaha jaoge itna paisa bachake udao dusro ko bhi kamane ka mauka do,' which implies that excessive savings may truncate economic circulation and avenues for others. Also read | S. Jaishankar launches Passport Seva 2.0 in India: Know how to apply for e-Passport online, eligibility, and other information AI Masterclass for Students. Upskill Young Ones Today!– Join Now
