₹60 Crore Scam Busted in Deoria: Multi-Million Dollar Online Account Hacking Ring Uncovered, One Suspect Arrested
Cybercrime Racket Uncovered in Deoria, UP, Involving Mule Accounts and Suspicious Transactions Worth ₹60 Crore
A coordinated effort by the cyber crime team in Deoria, Uttar Pradesh, has resulted in the exposure of a sophisticated financial network that utilized mule accounts and fake companies to launder money linked to numerous cyber fraud cases.
Modus Operandi
The modus operandi employed by the accused involved setting up a shell company to facilitate illicit financial activities.
Multiple bank accounts were opened in different names and controlled through this entity, processing suspicious transactions worth over ₹60 crore.
Victims and Nationwide Footprint
The bank accounts linked to this network have been identified in 46 complaints filed nationwide, indicating a pan-India footprint of the racket.
The victims from different states are thought to have fallen prey to various online schemes, with funds being transferred through the accused’s network.
Mule Accounts and Investigation Challenges
Mule accounts refer to bank accounts used to transfer, layer, and withdraw illicitly obtained funds.
In this case, the accused allegedly used multiple mule accounts to circulate money rapidly, making it challenging to detect the transactions.
Evidence Recovered During Arrest Operation
During the arrest operation, the cyber crime team recovered significant evidence, including:
- multiple cheque books,
- passbooks,
- ATM cards,
- identity documents,
- GST-related papers,
- company records,
- a high-end mobile phone,
- and two laptops.
Forensic analysis of these devices is expected to provide valuable insights into transaction patterns, communication channels, and the identities of other members involved in the network.
Larger Organized Syndicate Suspected
Preliminary findings suggest that the arrested accused may not be acting alone, implying a larger organized syndicate could be operational.
Authorities are working to identify and apprehend other individuals involved in the chain.