The Jammu and Kashmir Police’s Cyber Wing on Tuesday said they arrested four persons involved in setting up mule bank accounts, defrauding people of crores of rupees.
The Cyber Police Station Kashmir Zone investigations found that mule accounts serve as channels for the receipt and transfer of unlawfully obtained funds on behalf of cyber fraudsters.
Police said such activities are pivotal to organised fraud operations targeting vulnerable segments of society, including homemakers, the economically disadvantaged, auto-rickshaw drivers, labourers, and local vendors.
The police said perpetrators, operating from outside 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,” police said.
Acting upon the matter, Cyber Police Station Kashmir Zone, Srinagar, filed a case vide FIR No. 10/2024 under relevant legal provisions and initiated a comprehensive investigation.
Subsequent inquiries by police 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 as orchestrating and managing these mule bank accounts, as well as enticing unsuspecting individuals to participate in these illegal activities. Consequently, these four accused persons, identified as Sajad Ahmad Rah of Chinar Colony Mehjoor Nagar, Srinagar, Tawqair Ahmad Bhat Banpora Nowgam, Srinagar, Ubaid Ahmad Rah of Hamdaniya Colony Bemina, Srinagar, and Amir Rah of Chinar Colony Mehjoor Nagar, Srinagar, have been arrested,” police said.
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,” it said and urged people that in case they suspect being victimized by money laundering or inadvertently engaged as a money mule, they should report promptly to the authorities.