In a major operation against cyber-enabled financial crime, the Central Bureau of Investigation (CBI) has unearthed a sprawling cyber fraud network involving over 8.5 lakh ‘mule’ bank accounts operating across more than 700 bank branches throughout India.
The case, formally registered last month, marks one of the most extensive crackdowns on cybercrime infrastructure in the country. These mule accounts—bank accounts used to receive and transfer illicit funds—are believed to be a crucial part of numerous fraudulent schemes, ranging from digital arrest scams and impersonation frauds to fake online advertisements and investment traps.
As part of the initial wave of action, the CBI has arrested three individuals alleged to be directly involved in facilitating the creation and operation of these accounts.
So far, 37 accused have been identified in connection with the network. This includes not only mule account holders but also middlemen and agents who played a critical role in orchestrating and executing the illicit transactions. Alarmingly, the investigation has uncovered possible collusion by certain bank employees, who are suspected of aiding cybercriminals by turning a blind eye or actively helping in bypassing standard checks.
According to CBI officials, this organized network enabled the laundering of proceeds from a wide spectrum of cybercrimes, with each layer of the operation designed to obscure the money trail and frustrate enforcement efforts.
The agency has launched a comprehensive probe to dismantle the entire network, trace illicit funds, and hold all responsible parties accountable. This development serves as a stark reminder of the growing sophistication of financial cybercrime in India, and underscores the urgent need for heightened vigilance among citizens, banking institutions, and digital platforms.
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