₹138 Crore Mule Account Racket With China Links Unearthed in Telangana
Karimnagar police arrest 13, including bank officials, as cyber fraud network routed funds through fake accounts
Karimnagar, Mar 28: A major cyber fraud network involving illegal mule bank accounts and suspected international links has been unearthed by Karimnagar police, with transactions estimated at nearly ₹138 crore.
The operation, carried out under Operation Crackdown 1.0, led to the identification of 24 accused individuals, of whom 13 have been arrested so far. Those detained include bank officials allegedly involved in facilitating fraudulent transactions.
Commissioner of Police Gaush Alam said the racket operated through a sophisticated system of bank-linked and virtual accounts designed to move illicit funds. Investigators revealed that around ₹12.25 crore was routed through virtual accounts, while approximately ₹125.80 crore passed through mule accounts associated with Ratnakar Bank (RBL), taking the total volume to nearly ₹138 crore.
According to police, the network followed a multi-layered structure. The prime accused, Bandari Sairam, allegedly coordinated the opening of mule accounts using identities of unsuspecting individuals. These accounts were then used by cybercriminals, reportedly operating from China, to channel fraudulent funds.
Middlemen played a key role by enticing people with commissions to open bank accounts, after which ATM cards and credentials were handed over to the operators. These accounts were subsequently used to transfer and withdraw money linked to cybercrime activities, often routed overseas.
Authorities have registered cases under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act, and further investigation is ongoing to trace additional links in the network.
The police have urged the public to remain vigilant and report any cyber fraud incidents immediately via the national helpline 1930 or the official online portal.
