Cyber Police unveils major mule account racket in Kashmir

Srinagar, Apr 23: The Cyber Police Station Kashmir Zone, Srinagar Tuesday said to have investigated a new modus operandi, where individuals are involved in setting up mule bank accounts.
These accounts serve as channels for the receipt and transfer of unlawfully obtained funds on behalf of cyber fraudsters, a statement issued reads. Such activities are pivotal to organized fraud operations targeting vulnerable segments of the society, including homemakers, the economically disadvantaged, auto-rickshaw drivers, labourers, and local vendors, it said.
“The funds, often acquired through online fraudulent means such as investment scams, online gaming apps, phishing or identity theft are discreetly shuffled between multiple accounts to evade detection. Perpetrators, operating from outside the UT of Jammu and Kashmir, lured potential victims through emails, chatrooms or social media, offering inducements in exchange for renting out their bank accounts. Once trapped, victims unknowingly help in illegal transactions through mule bank accounts, sending the money to the criminal’s main accounts,” it said.
Acting upon the matter, Cyber Police Station Kashmir Zone, Srinagar, has filed a case under FIR number 10/2024 under relevant legal provisions and initiated a comprehensive investigation.
“Subsequent inquiries have revealed numerous mule accounts operating in various Districts of Kashmir Zone, with transactions totalling crores of rupees. Four individuals from Srinagar city have been identified in orchestrating and managing these mule bank accounts, as well as enticing unsuspecting individuals to participate in these illegal activities,” the statement added.
Consequently, these four accused persons identified as Sajad Ahmad Rah son of Mohammad Maqbool Rah residing at Chinar Colony Mehjoor Nagar, Srinagar, Tawqair Ahmad Bhat son of Tariq Ahmad Bhat residing at Banpora Nowgam, Srinagar, Ubaid Ahmad Rah son of Mohammad Ayoub Rah residing at Hamdaniya Colony Bemina, Srinagar and Amir Rah son of Mohammad Maqbool Rah residing at Chinar Colony Mehjoor Nagar, Srinagar have been arrested, the statement reads.
Meanwhile, Cyber Police Kashmir urged the public to remain vigilant and guard against falling victim to such fraudulent schemes. Fraudsters often exploit unsuspecting individuals through personal or social media platforms, dangling promises of rewards, incentives, or ‘work from home’ opportunities. Participation in money mule activities is unlawful and carries severe legal ramifications, including imprisonment. Should you suspect being victimized by money laundering or inadvertently engaging as a money mule, prompt reporting to the authorities is imperative, the statement said.