Bhubaneswar: In a major crackdown on cyber fraud, police have busted a mule bank account racket and arrested three persons allegedly involved in a massive fraudulent operation in Odisha’s Puri.
As per a press release issued by the Cyber Police Station, Puri, the arrests were made during a special “Mule Account Drive” conducted to curb cybercrime and financial fraud in the district. The operation led to the detection of several fraudulent bank accounts used to route illegal money generated through cyber fraud activities.
During the investigation, police arrested three persons actively involved in facilitating illegal financial transactions linked to cyber fraud. Investigators revealed that the accused lured innocent people with small monetary incentives and collected their bank accou
nts, ATM cards, and SIM cards.
These bank accounts were later used as mule accounts to route and transfer money obtained through various cyber fraud operations.
Further investigation revealed that the accused had floated a company named “Speeding Exim Pvt. Ltd.” which was allegedly used as a front to operate the illegal financial network. Through multiple mule accounts linked to the company, large-scale financial transactions were carried out.
Preliminary findings suggest that nearly Rs one crore worth of illegal transactions were facilitated through these mule accounts. Police said the investigation is still underway and efforts are being intensified to identify other persons and networks connected with the racket.
During the operation, police seized several incriminating materials including: 15 ATM Cards; 6 SIM Cards; 7 Mobile Phones and 7 Cheque Books. Several documents related to the company Speeding Exim Pvt. Ltd. were also recovered during the investigation.
Police sources said that earlier seven cases related to mule bank accounts had already been registered at Cyber Police Station, Puri. Following this latest operation, the total number of such cases has risen to ten.