Cracking Down on Cyber Mule Accounts: CBI Leads Finance Ministry Summit

The CBI, along with finance ministry and public sector bank officers, strategized on combating cyber mule accounts. The meeting in Chennai focused on enhancing bank fraud investigations and streamlining inter-departmental processes. Significant growth in cybercrime and measures to curb it were reported, emphasizing proactive coordination.

The Central Bureau of Investigation (CBI) convened with figures from the Finance Ministry and public sector banks to strategize against the illicit use of 'mule accounts' by cybercriminals. These discussions come as cybercrime surges across India, necessitating heightened scrutiny of financial fraud.

In Chennai, the coordination meeting saw participation from senior bank security officers, chief vigilance officials from public sector banks, and the Department of Financial Services. The agenda centered on resolving outstanding bank fraud investigations and enhancing cooperation to expedite these probes.

The CBI spokesperson highlighted collaborative steps taken to ensure smooth procedural operations under the Prevention of Corruption Act, with a particular focus on curbing the misuse of mule accounts. Despite challenges, the summit concluded with a call for sustained engagement to address coordination bottlenecks and boost investigative effectiveness.

(With inputs from agencies.)