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Cyber cops unveil mule bank account racket in Kashmir

Author : IANS

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Srinagar, April 23 (IANS) The Kashmir Zone Cyber Police Station in Srinagar investigated a new modus operandi where individuals are involved in setting up mule bank accounts on behalf of cyber fraudsters for the receipt and transfer of unlawfully obtained funds, according official statement said on Tuesday.

"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 statement said.

"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," it added.

The statement further said that the perpetrators, operating from outside the UT of Jammu and Kashmir, lured 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," the statement said.

The Cyber Police Station has filed an FIR and subsequent inquiries 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 in orchestrating and managing these mule bank accounts, as well as enticing unsuspecting individuals to participate in these illegal activities.

Police have arrested the four accused identified as Sajad Ahmad Rah, a resident of Chinar Colony Mehjoor Nagar; Tawqair Ahmad Bhat (Banpora Nowgam); Ubaid Ahmad Rah (Hamdaniya Colony Bemina); and Amir Rah, a resident of Chinar Colony Mehjoor Nagar.



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