SRINAGAR: In a significant breakthrough against organized cybercrime, Srinagar Police have unearthed a sprawling cyber fraud network involving over 7,200 mule bank accounts, resulting in the arrest of 21 individuals linked to the racket.
The major development was announced during a high-profile press briefing by SSP Srinagar Imtiaz Hussain, SP Cyber Iftikhar Talib, and DSP Sleet Shah.
According to SSP Hussain, the Cyber Police Station of Kashmir Zone exposed an intricate operation revolving around mule accounts—bank accounts misused to funnel and obscure illicit funds on behalf of cybercriminals.
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He revealed that these bank accounts were mostly opened using documents of economically weaker individuals across various parts of Kashmir.
Social media platforms like Telegram and Facebook were exploited to recruit account holders, whose bank accounts were later remotely controlled by fraudsters operating from outside Jammu & Kashmir—and even from abroad.
He added that these accounts were plugged into fake investment schemes, online betting and gambling portals, and fraudulent trading platforms. The ill-gotten gains were then layered and siphoned off through cryptocurrency to erase the money trail.
The crackdown gained momentum following inputs from the Indian Cyber Crime Coordination Centre (I4C), Ministry of Home Affairs, which flagged 7,200 suspicious accounts created since January 2025 in the region. Police officials believe this number could rise as investigations continue.
So far, four FIRs have been registered, and legal proceedings are actively underway. Preventive action has been taken against 21 suspects, with 19 hailing from the Srinagar district.
Key hotspots for these mule accounts include Natipora, Nowgam, Bemina, Khanyar, Soura, and Qamarwari, while similar fraud patterns have emerged in Ganderbal, Bandipora, Baramulla, Pulwama, Anantnag, and Shopian districts.
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SSP Imtiaz Hussain issued a stern warning to the public against selling or leasing their bank accounts or documents. He warned that those aiding such activities—knowingly or unknowingly—will face strict legal consequences under cybercrime and financial fraud laws.
He urged citizens to remain vigilant and promptly report any suspicious cyber activity through the national cybercrime helpline 1930 or by visiting www.cybercrime.gov.in.