Hyderabad: An 8-member cyber fraud gang was arrested by cybercrime police on Tuesday, November 25, for opening mule bank accounts and supplying them to cyber fraudsters.
Three main fraudsters are absconding.
According to the police, they opened 127 mule bank accounts and credited Rs 24,10,16,618 crore into those accounts.
They debited Rs 23,99,31,550 crore and froze Rs 16,31,155 lakhs.
Modus Operandi
In 2023, the main accused, Jagadish, met Kannaiah, who offered Rs 10,000 per bank account.
Jagadish opened multiple accounts using his own ID, his wife’s, his mother’s, his relatives, and his friends’ in various banks.
All passbooks, ATM cards, chequebooks, and credentials were handed over for commission. The documents were sent through Blue Dart courier. Fraudsters Poonam and Ramesh joined the chain later.
Some among the gang formed subgroups and supported each other in opening accounts.
Police seized 11 bank passbooks, 14 ATM cards, 12 cheque books, 2 notebooks with account details, 6 SIM cards, and 8 mobile phones, among other items.
Cbercrime police found Rs 1,60,56,201 lakhs of fraud money linked to FIRs, while 21 National Cybercrime Reporting Portals (NCRP) were identified.
The gang was involved in cases across Telangana, Karnataka, and Rajasthan.
A special team has been formed to trace the absconding cyber fraudsters.
Police have appealed to the public not to open bank accounts for others. Additionally, bank credentials must not be shared as these accounts may be used for cyberfraud.
