A major mule bank account racket linked to international cyber fraud networks operating from Southeast Asian countries has come under investigation in Prayagraj. Cyber police officials say bank accounts associated with a firm operating from the Handia area of Prayagraj were allegedly used to transfer and conceal money collected through cyber frauds committed across India. Investigators suspect the network may have links to cyber crime syndicates operating from Laos, Thailand, Cambodia and Vietnam.
Mule accounts flagged across 12 states
According to the FIR registered at the cyber police station, bank accounts linked to a firm allegedly operated by businessman Prashant Singh were being used to receive and route money generated through cyber scams in multiple states. The investigation began after a verification drive targeting mule bank accounts was launched on the directions of DCP Cyber Crime Kuldeep Singh Gunawat. Mule accounts are bank accounts used by cyber criminals to move illegally obtained money from one place to another while concealing its original source.
During the investigation, police found that an account opened in the name of the firm at a Canara Bank branch in Civil Lines had attracted 101 complaints from 12 different states. Officials said complaints connected to the account were registered from Rajasthan, Gujarat, Maharashtra, Delhi, Punjab, Haryana, Karnataka and several other states.
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Digital arrest, investment and trading scam proceeds
The complaints reportedly involve online investment fraud, digital arrest scams, fake trading schemes and other cyber fraud methods used to cheat victims. Investigators say the account appeared repeatedly in cyber crime complaints filed across the country, indicating the possible existence of a structured financial laundering network.
According to officials, preliminary scrutiny revealed suspicious transactions worth nearly ₹7.49 lakh, although investigators believe the actual amount routed through the network may be significantly higher. Cyber police are now examining transaction records, mobile numbers, IP logs and interstate communication details associated with the accounts.
Authorities suspect that the operation may not be limited to domestic cyber fraud alone and could be part of a larger international cyber fraud syndicate using Indian banking channels to move illegal funds.
Multiple bank accounts under scanner
Investigators also discovered that other bank accounts linked to the same firm were allegedly involved in suspicious transactions. An account in Indian Bank reportedly received a complaint from Odisha related to a cyber fraud amounting to ₹3.40 lakh. Similarly, scrutiny of a UCO Bank account revealed suspicious transactions linked to fraud cases worth around ₹92.45 lakh. A Punjab National Bank account was also found connected to a cyber fraud complaint involving ₹1 lakh from Maharashtra.
Police officials say the repeated appearance of the firm’s accounts in complaints from multiple states strongly suggests that the banking infrastructure was being systematically used by organised cyber criminals. Investigators are now trying to determine who operated the accounts, how the money was transferred abroad and how many individuals were involved in the wider network.
Links to earlier busted network and expert warning
The case is also being linked to another cyber fraud racket busted two months ago. In that operation, police had arrested Vipin Mishra and Manish Pandey, who were accused of providing mule accounts to cyber criminals operating from Thailand, Laos and Cambodia. During interrogation and digital analysis, investigators reportedly uncovered several important leads and identified Raj Mishra as the alleged mastermind of the network.
Renowned cyber crime expert and former IPS officer Prof. Triveni Singh said international cyber fraud gangs are increasingly exploiting weak points in India’s banking ecosystem. According to him, mule accounts have become the backbone of organised cyber crime because they allow fraudsters to rapidly circulate stolen money through multiple layers before law enforcement agencies can trace the original beneficiaries.
Prof. Triveni Singh further warned that digital arrest scams, fake investment applications and fraudulent trading platforms are now being operated through cross-border criminal networks in which Indian bank accounts are used merely as financial transit channels. He noted that such syndicates often recruit account holders through shell firms, fake businesses and commission-based arrangements.
Cyber experts say money collected through online investment fraud, fake customer care scams and digital arrest operations is first deposited into mule accounts before being split and transferred through multiple banking and digital channels to make tracing difficult.
Investigating agencies are now conducting forensic analysis of KYC records, mobile data, digital devices and financial transactions linked to the firm. Officials believe the probe may eventually expose additional interstate and international connections tied to the cyber fraud network.
