New Delhi: A man arrested in connection with an alleged ₹18.93 lakh cyber fraud involving the unauthorised liquidation of a bank fixed deposit (FD) has been remanded to two days of police custody by a court in Rajasthan’s Baran district. Investigators say the remand will help them question the accused about other members of the cyber fraud syndicate, the bank accounts and mobile SIM cards used in the offence, financial transactions, and the overall operation of the network. Police believe the case may be linked to a well-organised interstate cybercrime syndicate rather than an isolated incident.
According to the cyber police, the arrested accused has been identified as Vinod Singh, a resident of Maihar, Madhya Pradesh. He was produced before the court on Wednesday, where investigators sought his custodial interrogation for further questioning. After hearing the prosecution’s submissions, the court granted a two-day police remand.
Preliminary investigation indicates that cybercriminals allegedly misused the victim’s online banking services to prematurely break the victim’s fixed deposit and subsequently transfer ₹18.93 lakh into multiple bank accounts. Police are now trying to determine whether Vinod Singh played a direct role in the fraud or acted as a facilitator by arranging bank accounts, mobile SIM cards and other resources for the cybercrime syndicate.
Investigators said the remand period will be used to gather information about the bank accounts through which the allegedly stolen funds were routed. They are also examining the mobile numbers, SIM cards, digital payment channels and financial trails used to move the money across multiple accounts. In addition, police are analysing digital evidence, call detail records, banking documents and electronic devices to identify other individuals connected to the case.
According to investigators, the focus of the probe has now shifted to suspected operatives based in Bihar and Madhya Pradesh, who are believed to have played key roles in running the cyber fraud network. Preliminary questioning suggests that the accused allegedly lured unsuspecting individuals into handing over their bank accounts and mobile SIM cards, which were then supplied to cybercriminals. These accounts were allegedly used as mule accounts to transfer and layer stolen funds, making it more difficult for investigators to trace the money.
Police are also examining whether the same network has purchased or collected additional bank accounts and SIM cards that may have been used in other cyber fraud cases across the country. If links to other offences are established, investigators may coordinate with police forces in other states and central agencies to expand the investigation and identify additional suspects.
Cybercrime experts note that organised fraud syndicates increasingly rely on mule bank accounts and fraudulent SIM networks instead of directly transferring stolen funds into identifiable accounts. By routing money through multiple intermediary accounts, criminals attempt to conceal the origin of the proceeds and complicate financial investigations. As a result, individuals who knowingly or unknowingly provide their bank accounts or SIM cards for such activities may also come under legal scrutiny.
Experts advise the public to closely monitor their bank accounts, internet banking services, mobile banking applications and fixed deposits for any unauthorised activity. People should never share their bank account details, ATM or debit card information, cheque books, mobile SIM cards, one-time passwords (OTPs) or internet banking credentials with unknown persons. If any suspicious transaction is detected or cyber fraud is suspected, customers should immediately inform their bank, secure their accounts and report the incident without delay through the National Cyber Crime Helpline (1930) or the National Cyber Crime Reporting Portal. Prompt reporting significantly improves the chances of freezing fraudulent transactions, tracing the money trail and identifying those responsible.
