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In a major action against cyber-enabled financial fraud, the Punjab Police State Cyber Crime Wing has dismantled an inter-state mule account network that cheated thousands of people across India out of crores of rupees.
Police arrested four suspects and recovered ₹10.96 lakh in cash, along with nine mobile phones, a laptop, 32 debit cards, 10 SIM cards, 15 bank passbooks, and a cheque book.
Punjab DGP Gaurav Yadav said the gang operated hundreds of mule accounts to funnel illicit money abroad via cryptocurrency platforms. He explained that these accounts, mostly acquired from people from economically weaker sections in exchange for small payments, were being used to layer and transfer crime proceeds, which were then moved overseas through crypto exchanges like Binance and DCX.
The arrested accused have been identified as Gautam (23), Ehsas (24), and Akash (20), all residents of Amritsar, and Anmol (21) from Fazilka. According to police, Anmol was a full-time mule account operator, Gautam was unemployed, Ehsas was running a hotel on contract in Amritsar, and Akash had briefly worked in a company before joining the racket.
Special DGP Cyber Crime V Neeraja said the investigation began after the Indian Cyber Crime Coordination Centre (I4C), under the Ministry of Home Affairs, shared data analysis of more than 6,000 mule accounts used in cyber fraud bank transfers. Based on hotspot analysis, Punjab Cyber Crime Police registered an FIR against 300 mule accounts linked to Punjab Gramin Bank, eventually tracing 100 such accounts to Abohar.
She said the probe revealed that the accused were part of multiple Telegram-based cyber fraud groups, whose administrators are suspected to be operating from South-East Asia. The kingpins trained the local operators in converting illicit Indian currency into cryptocurrency. Anmol from Abohar was identified as the key supplier, sending mule kits through courier to his associates in Amritsar. The operatives activated internet banking facilities on these accounts and facilitated fund transfers for a commission ranging from 10 to 20 per cent.
All four accused are on police remand, and further investigations are underway to trace the masterminds in India and abroad. The police are also examining the possible involvement of bank officials in facilitating the racket. Advising citizens to remain vigilant, Punjab Police urged people not to provide their bank accounts or SIM cards to anyone in exchange for money or job offers, as such details are often misused in cyber frauds. Officials advised that such attempts should be reported immediately at the nearest District Cyber Crime Police Station. Victims of cyber fraud have also been asked to call Helpline 1930 without delay, as timely reporting can help prevent fraudulent transactions and protect their money.
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