Karimnagar: Telangana police have uncovered a large-scale ‘mule bank account’ network in Karimnagar, used to route money from cyber fraud operations. Preliminary investigations revealed that transactions through this network totaled nearly ₹138 crore.
Under the cyber and banking fraud probe Operation Crackdown 1.0, police identified 24 accused and arrested 13 on Friday. The arrests include bank officials. Police stated in a press conference that the network facilitated large-scale fraudulent transactions through bank-linked and virtual accounts.
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Preliminary findings show that around ₹12.25 crore was routed via virtual accounts, and ₹125.80 crore through mule accounts in Ratnakar Bank (RBL), totaling roughly ₹138 crore. Virtual account platforms linked to cooperative societies were also used.
Police said the main accused Bandari Sairam oversaw the opening and operation of fake mule accounts. These accounts were used for cybercriminals operating from China. People were lured to open accounts with promises of commission, and account holders handed over ATM cards and banking credentials. These accounts were then used to channel cyber fraud money, often sent abroad.
Those arrested include: Bandari Sairam (30), Jagtial; Anumandla Ranjith (36), Buggaram; Aligeti Mallesham (37), Dharmaram; Boga Rakesh (35), Jagtial; Bandi Pranay (25), Ramadugu, Karimnagar. Bank officials include Bhuvanagiri Kalyan (52), Hanamkonda, RBL Bank Manager, while Ayesha Begum (30), Karimnagar was not arrested due to pregnancy.
Account holders arrested include: Vibhudi Ramkumar (37), Dharmaram; Natarla Srinivas (39), Lakshmipur; Karre Raju (35), Warangal; Kalleda Mahender (36), Jagtial; Kondra Narahari (37), Jagtial; Kalleda Rajesh (27), Jagtial.
The police commissioner urged citizens to immediately report cyber fraud by calling 1930 or visiting the official website. Further investigation is ongoing.
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Hanamkonda: A retired assistant professor, Prabhakar Shyamala (86), Waddepally, was defrauded of ₹1.1 crore by online fraudsters posing as stock market advisers via a WhatsApp group. The scammers guided him through fake investments and collected deposits, later demanding another ₹50 lakh. His family contacted cybercrime police, and a case was registered.
This arrest and exposure highlight the need for vigilance in banking and cyber fraud. Citizens are advised to immediately report any suspicious financial activity to the relevant authorities.
The operation not only ensures the identification and legal action against offenders but also sends a warning to potential cyber criminals.
CBI and other investigative agencies continue a thorough investigation to ensure all accused and their crimes are legally established in court, maintaining trust in financial institutions.
