Two Arrested in 49-Lakh Cyber Fraud Case: Bank Account Renting Exposed

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Two individuals have been detained in Greater Noida for their involvement in a ₹49.40 lakh cyber fraud scheme, where banking credentials were exploited to siphon illicit funds.

Two Individuals Detained in Connection with ₹49.40 Lakh Cyber Fraud Scheme

Kotwali Police in Greater Noida, Uttar Pradesh, have detained two individuals linked to a cyber-enabled financial fraud totaling ₹49.40 lakh. According to law enforcement, the suspects facilitated access to their banking credentials to cybercriminals in exchange for financial incentives, which were subsequently used to siphon illicit funds. One of the arrested individuals is associated with a real estate enterprise.

Fraudulent Withdrawal from Maharashtra Bank Account

The incident originated from a breach at South India Bank in Maharashtra, where ₹49,39,625 was unlawfully withdrawn on September 10 of the previous year. A formal complaint was filed following the discovery of unauthorized transactions. Subsequent investigations uncovered that a portion of the stolen funds was routed through bank accounts registered in Greater Noida.

Utilization of Suspect Bank Accounts

Investigators traced the movement of illicit funds using digital transaction logs and banking records. A critical discovery revealed that ₹14.90 lakh was transferred into an account held by Pritam, a resident of Ghodi-Bachheda village. Police detained Pritam after obtaining evidence of his involvement. During interrogation, he reportedly admitted to leasing his account to cybercriminals for monetary gain. The funds were allegedly deposited into his account before being redistributed through multiple channels. Authorities noted that approximately ₹9.50 lakh had been spent from the illicit proceeds.

Involvement of Real Estate Professional

Further scrutiny identified Sunny Thakur, a property developer based in Sahibabad, Ghaziabad, as another key figure. Thakur operates a real estate firm called ‘Shri Realtors’ in Vaibhav Khand, Indirapuram. Law enforcement alleges that he orchestrated the transfer of fraudulent funds into Pritam’s account. Based on forensic analysis and interrogations, both suspects were apprehended.

Ongoing Digital Forensics

Police have seized four mobile devices from the accused and are conducting digital evidence analysis. Investigators aim to determine the extent of the network’s involvement in other cyber fraud cases and identify additional participants. Authorities suspect the account-leasing operation may be connected to multiple cybercriminal groups. Such schemes typically involve routing illicit funds through multiple accounts to obscure the trail of perpetrators.

Legal Proceedings and Next Steps

Both arrested individuals have been remanded to judicial custody. The investigative team is continuing efforts to map the full financial infrastructure behind the fraud and locate other individuals implicated in the scheme. The case highlights the growing trend of financial crime facilitated through the exploitation of personal banking data.

According to law enforcement, the suspects facilitated access to their banking credentials to cybercriminals in exchange for financial incentives, which were subsequently used to siphon illicit funds.