Tamil Nadu Police launch statewide crackdown on ‘Money mule’ accounts used in cyber frauds
Chennai, Aug 8 (IANS) Tamil Nadu Police have launched a major statewide crackdown on “money mule” bank accounts that cybercrime syndicates use to receive, move and conceal money stolen from victims of online financial frauds.
As part of the coordinated operation, the Chennai Cyber Crime Wing detained more than 80 people suspected of allowing their bank accounts to be used by fraud networks.
Similar operations are being conducted across Tamil Nadu, with several people detained for questioning in other districts.
Police said the crackdown is continuing, with searches and verification of suspected accounts underway in several districts.
Details of arrests and the wider network are expected to be released as the investigation progresses. The drive follows mounting concern over the scale of online financial fraud in Tamil Nadu.
Cybercrime victims in the State reported losses of around Rs 1,897 crore last year, prompting police to intensify action against the financial infrastructure supporting cybercriminal networks.
Investigators said fraudsters involved in bogus online trading and investment schemes, “digital arrest” scams, gaming frauds and other online offences frequently depend on mule accounts to receive money from victims.
Account holders are allegedly offered commissions or lump-sum payments for handing over their bank accounts, ATM cards, SIM cards or online banking access.
Recent investigations have highlighted the growing role of such accounts. In July, the Enforcement Directorate investigated an online investment and work-from-home fraud involving alleged losses of Rs 14.95 crore, in which proceeds were routed through mule accounts and shell companies before being converted into cryptocurrency.
Earlier, Avadi cybercrime police arrested two people, including a private bank manager, after a Tiruverkadu resident was allegedly cheated of Rs 59 lakh in an online trading scam.
Investigators alleged that bank accounts were procured from members of the public for commissions and supplied to fraudsters.
Police have also recently acted against digital-arrest frauds and international cybercrime networks.
A Ramanathapuram-based module busted earlier this year was allegedly involved in converting around Rs 100 crore in cybercrime proceeds into cryptocurrency for offshore syndicates.
The latest operation, being conducted under the direction of Director General of Police Mahesh Kumar Aggarwal, is aimed at identifying account suppliers as well as the organised networks controlling them.
Police warned people not to rent, sell or hand over their bank accounts, ATM cards, cheque books or internet banking credentials, stressing that account holders could face criminal prosecution if their accounts are knowingly used to facilitate cybercrime.
—IANS
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