Mumbai Police have busted a major cyber fraud network and arrested two people allegedly involved in arranging bank accounts used for fraudulent transactions. Police said accounts linked to the accused were identified in at least 42 cyber fraud cases registered across the country, involving alleged losses of more than ₹7.42 crore. Investigators are now trying to determine the full extent of the network and identify other people who may have been involved.
The case came to light during an investigation into a cyber fraud complaint registered at Khar Police Station. According to the complaint, the victim was contacted through Telegram and offered the opportunity to earn substantial profits by completing online tasks. The fraudsters initially gained the victim’s confidence through small online assignments and payment-related activities before asking for money to be deposited into different bank accounts.
The victim transferred around ₹4 lakh into several bank accounts provided by the accused. He later realised that he had been duped and approached the police. Following the complaint, investigators examined bank transactions, digital activity and other available technical evidence. The analysis of suspicious accounts and their transaction trails eventually led investigators to the alleged involvement of Avinash Babasaheb Kharat and Vikas Gajanan Bhujbal.
Both suspects were arrested and questioned as part of the investigation. Police allege that the accused had opened bank accounts not only in their own names but also in the names of other individuals. These accounts were subsequently handed over to cybercriminals, who allegedly used them to receive and move money obtained through online fraud.
Such accounts play a crucial role in cyber fraud networks because they create multiple layers between the victim and the people ultimately controlling the stolen money. Instead of transferring fraudulent proceeds directly to the principal offenders, the money is moved through several bank accounts, making it harder for investigators to trace the actual beneficiaries. Accounts used in this manner are commonly referred to as mule accounts.
The identification of links to 42 cases has widened the scope of the investigation. Police are examining the transaction history of the suspected accounts to determine how long they were allegedly being used for cybercrime-related activities, how much money passed through them and where the funds were eventually transferred.
Investigators are also looking into whether additional accounts were opened and supplied to cybercriminals through the same network. The financial trail is expected to help police identify other people involved in receiving, transferring or withdrawing the proceeds of fraud.
The case also highlights the growing use of Telegram and similar online platforms in task-based investment and employment scams. Fraudsters often approach potential victims with offers of easy online work and high returns. After establishing initial trust, they persuade victims to make larger payments or transfer money into multiple bank accounts. Once the money is deposited, the fraudsters may stop responding or demand additional payments under various pretexts.
Police believe that the investigation could uncover a wider network operating beyond Mumbai. The arrested suspects are being questioned about the cybercriminals who allegedly obtained the bank accounts and used them for fraudulent transactions. Investigators are also examining the role of other account holders whose identities may have been used to facilitate the movement of stolen funds.
The action underscores how cyber fraud networks increasingly depend on financial intermediaries who provide or control bank accounts used to route illegal proceeds. While the initial fraud may take place through a phone call, messaging platform or fake online opportunity, the movement of money through multiple accounts remains a key part of the criminal operation. Police are now focusing on following the financial trail to identify the wider network and determine the total amount allegedly routed through the suspected accounts.
