CBI Unveils Nationwide Mule Account Scam: 8.50 Lakh Accounts Exposed

The CBI has uncovered 8.50 lakh mule bank accounts across over 700 branches in India used by cybercriminals for financial scams. Coordinated operations led to nine arrests. The accounts, often opened with fake IDs, channeled illicit funds. Bank officials and facilitators were implicated in this systemic failure.

The Central Bureau of Investigation (CBI) has identified a sprawling network of 8.50 lakh mule bank accounts across more than 700 branches nationwide. These accounts have been exploited by cybercriminals in scams involving digital theft, impersonation, and fraudulent investments, according to official findings.

A recent coordinated operation resulted in the search of 42 locations across Rajasthan, Delhi, Haryana, Uttarakhand, and Uttar Pradesh. During these searches, the CBI detained nine suspects, including middlemen and banking correspondents, believed to have facilitated the opening of these fake accounts.

These accounts, often created with falsified documents, served as conduits for laundering funds from unsuspecting victims. Preliminary CBI investigations indicate potential collusion from certain bank officials and third-party agents. This systemic breach highlights the need for enhanced due diligence and stricter adherence to financial protocols.

(With inputs from agencies.)