In a major crackdown on digital financial fraud, the Cyber Crime Wing of Punjab Police has busted an interstate mule account racket operating across India. This sophisticated syndicate was laundering cybercrime proceeds through thousands of fake and rented bank accounts—commonly known as “mule accounts”—and moving the funds into cryptocurrency to hide the money trail.

The investigation has revealed links to international fraud networks, Telegram groups, and Southeast Asian handlers. Here’s everything you need to know about this high-profile cybercrime bust.

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�� What Is a Mule Account?

A mule account is a legitimate bank account used—either knowingly or unknowingly—to transfer or launder stolen money. Criminals recruit or deceive individuals into giving up access to their accounts, which are then used to route fraud money, often across state or national borders.

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��‍♂️ Who Was Caught?

Punjab Police arrested four suspects:

Name	Age	Location	Role
Gautam	23	Amritsar	Operated mule accounts
Ehsas	24	Amritsar	Hotel contractor; managed finances
Akash	20	Amritsar	Brief stint in corporate firm
Anmol	21	Fazilka	Full-time mule account operator

All four were allegedly part of Telegram-based cyber fraud networks operated by handlers based in Southeast Asia. They received commissions for every successful fraudulent transaction routed through mule accounts they controlled or recruited.

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�� How the Scam Worked: Step-by-Step

1. Data Source: Investigators acted on a tip from the Indian Cyber Crime Coordination Centre (I4C), which flagged over 6,000 mule accounts linked to fraud.
2. Account Hotspots: A key focus was the Punjab Gramin Bank, especially its Abohar branch, where over 100 suspicious accounts were traced. Punjab Police filed an FIR against 300 suspected accounts.
3. Mule Account Kits:
   1. Anmol would send “kits” containing SIM cards, ATM cards, passbooks, and internet banking credentials to fraud handlers via courier.
   1. These credentials were then used to operate accounts remotely from outside India.
4. Laundering via Crypto:
   1. The fraudulently obtained funds were layered across multiple mule accounts to confuse authorities.
   1. Eventually, money was converted into cryptocurrency via platforms like Binance and DCX—making it nearly untraceable.
5. Commissions:
   1. The local agents earned 10–20% commission on each transaction processed through these accounts.

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�� What Was Recovered?

The Punjab Police seized the following during raids:

• ₹10.96 lakh in cash
• 9 mobile phones
• 1 laptop
• 32 ATM/debit cards
• 10 SIM cards
• 15 bank passbooks
• 1 cheque book

These items are now being used as evidence in the ongoing investigation.

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�� International Links and Further Action

Police suspect that the entire operation was run by handlers in Southeast Asia, who coordinated transactions through Telegram. Authorities are now:

• Tracking down bank officials who may have helped open mule accounts without proper KYC.
• Investigating cryptocurrency exchange activity used for money laundering.
• Collaborating with national and international agencies to trace end beneficiaries of the fraud.

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�� Police Advisory to the Public

Punjab Police and cybercrime officials issued a strong advisory:

“Do NOT rent or sell your bank accounts, ATM cards, or SIM cards to strangers or online recruiters. You could be held legally liable for cybercrime and money laundering.”

They also urge citizens to:

• Report fraud attempts via cybercrime.gov.in
• Call the national cybercrime helpline 1930
• Stay alert for fake job offers or online income schemes that ask for bank details

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�� Why This Case Matters

This cybercrime bust is not just a local crime—it’s a part of a growing national and international problem. Here’s why it’s important:

Reason	Impact
Exploits innocent citizens	Many victims unknowingly become mules
Harder to trace funds	Crypto makes tracking money complex
International coordination	Telegram and foreign handlers involved
Banking system vulnerability	Weak KYC used to open fake accounts

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�� Lessons & Takeaways

• Never share your banking credentials, SIM cards, or ATM cards with anyone.
• Educate others, especially in rural areas, about the risks of selling bank accounts.
• Always verify job or loan offers—many frauds start with WhatsApp or Telegram chats.
• Stay informed through reliable sources like cybercrime.gov.in

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