New Delhi. Authorities in the national capital have exposed a large cyber fraud network under the ongoing ‘Mission Mule Hunting’ drive, with investigators finding that a fake company was allegedly used as a front to execute fraud worth over ₹100 crore. The alleged director of the company has been arrested, while the wider network involving mule bank accounts, shell firms and fraudulent SIM cards is under detailed investigation.
Single Account Linked to 336 Complaints
According to investigators, the fraud operation was carried out through a structured network of mule bank accounts, shell companies and fraudulent SIM cards. Individuals were allegedly lured through job offers or monetary incentives, and their identities were then used to open bank accounts for routing illicit funds.
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Officials said one key bank account came under scrutiny after it was linked to 336 cyber fraud complaints registered across the country. Suspicious transaction patterns led investigators to examine the account further, revealing that it had been used to facilitate fraud exceeding ₹100 crore.
₹16 Crore Deposited in Three Days
Investigators found that more than ₹16 crore was deposited into the account within just three days. The volume of transactions did not match the declared business profile of the company, raising serious suspicion.
The funds were allegedly transferred quickly to multiple other accounts and shell entities through a process known as layering, which is used to conceal the origin of money. Officials said digital payment channels, including UPI, IMPS, RTGS and ATM withdrawals, were used to move funds rapidly across accounts.
Probe Expands Across Mule Accounts and Shell Firms
Authorities said mule accounts and shell companies formed the backbone of the alleged operation. These accounts, often opened in the names of third parties, were used to transfer or park illegal funds, while shell entities helped divert money and make the proceeds appear legitimate.
Technical analysis indicated links across multiple regions in the country. Investigators used data monitoring tools and advanced analytics to detect unusual transaction patterns and trace connections between entities involved in the racket.
Officials have warned that people who knowingly or unknowingly provide bank accounts, KYC documents or financial credentials for such activities may face legal action. Authorities said the ‘Mission Mule Hunting’ initiative will continue as investigators pursue fresh leads and possible further arrests.
