April 24, 2024

||Black and White Digital News||

In a decisive move against cybercrime, the Cyber Police Station in Kashmir Zone, Srinagar, has uncovered a sophisticated racket involving the setup of mule bank accounts. This revelation marks a significant breakthrough in the fight against financial fraud targeting vulnerable segments of society.

Mule bank accounts serve as conduits for illicitly acquired funds, facilitating the movement of unlawfully obtained money on behalf of cyber fraudsters. The perpetrators behind this scheme target unsuspecting individuals, including homemakers, auto-rickshaw drivers, laborers, and local vendors, coercing them into renting out their bank accounts for fraudulent transactions.

The investigation conducted by Cyber Police revealed that these funds, acquired through various online scams such as investment fraud, phishing, and identity theft, are discreetly circulated through multiple accounts to evade detection. Perpetrators, often operating from outside the Jammu and Kashmir region, lure victims via emails, chatrooms, or social media, promising incentives in exchange for the use of their bank accounts. Once ensnared, victims unknowingly aid in illegal transactions, funneling money into the criminals’ main accounts.

Acting swiftly on this discovery, the Cyber Police Station in Kashmir Zone has filed a case (FIR number 10/2024) and initiated a thorough investigation into the matter. Subsequent inquiries have identified numerous mule accounts across various districts in Kashmir, with transactions amounting to crores of rupees.

Four individuals from Srinagar city—Sajad Ahmad Rah, Tawqair Ahmad Bhat, Ubaid Ahmad Rah, and Amir Rah—have been apprehended for orchestrating and managing these illicit bank accounts and enticing others to participate in unlawful activities.

Cyber Police Kashmir has issued a stern warning to the public, urging vigilance against falling prey to fraudulent schemes. The authorities caution against responding to enticing offers received through personal or social media platforms, including promises of rewards or ‘work from home’ opportunities, which could involve unwitting participation in money laundering activities.

Participation in money mule activities is not only illegal but also carries severe legal consequences, including imprisonment. Individuals who suspect they may have been targeted or inadvertently involved in such schemes are encouraged to report promptly to the authorities.

This crackdown underscores the commitment of law enforcement in Kashmir to combat cyber-enabled financial crimes and protect vulnerable members of society from exploitation by sophisticated criminal networks. The Cyber Police’s efforts serve as a vital deterrent against future attempts to undermine the integrity of financial systems through illicit activities.