Belagavi (Karnataka), March 10 A massive cyber fraud network, allegedly using 2,900 dummy bank accounts to funnel fraudulent transactions, has been uncovered, police said on Tuesday.
According to police officials, cyber fraudsters are increasingly targeting unemployed youth and women by luring them with promises of easy commissions. In many cases, unsuspecting individuals are persuaded to share their bank account details or open multiple accounts, which are then used by fraudsters to transfer illegally obtained funds.
Belagavi Police Commissioner Bhushan Borase said that four separate cases have been registered at the Cyber, Economic and Narcotics (CEN) Police Station in connection with the racket. Investigations revealed that the accused operate from undisclosed locations while using the bank accounts of innocent individuals to circulate fraud money.
"Fraudsters convince people that they will receive a commission based on the amount of money transferred through their accounts. However, once the accounts are handed over, they are used as mule accounts to transfer large sums involved in cyber fraud," Borase told reporters here.
In one such case, a youth from Belagavi allegedly opened nine bank accounts and handed them over to cybercriminals in exchange for commissions. Police said that around Rs 80 lakh was routed through these accounts before being transferred to other accounts.
In another instance, investigators found that a man working in Dubai had opened a bank account in the name of a self-help group through his mother, which was allegedly used to facilitate fraudulent transactions.
However, no arrests have been made in these cases so far, police said, adding that efforts are being made to nab them.
Police also noted that several victims were lured through fake work-from-home opportunities and commission-based online jobs. Cybercriminals use these tactics to convince individuals to provide bank accounts that can be used to move illegally obtained funds.
Authorities have so far blocked the identified mule accounts and intensified their investigation to track the masterminds behind the network.
The Police Commissioner urged citizens to remain vigilant and refrain from sharing their bank account details with unknown persons or allowing others to use their accounts for financial transactions.
"People must understand that allowing their accounts to be used in such activities can make them legally liable and may lead to criminal action," Borase added.
The police have appealed to the public to immediately report suspicious offers promising easy commissions or online work opportunities to the cybercrime helpline.