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Indore Police have arrested five young men for allegedly supplying bank accounts to cybercriminals, exposing a suspected network in which accounts opened at legitimate bank branches were passed through intermediaries before reaching fraud operators.
The arrests were made under Operation Matrix, an enforcement initiative targeting bank accounts suspected of being used to move money obtained through online scams.
Police said the accused allegedly sold access to their accounts for financial gain, allowing cyber fraud proceeds to pass through accounts held in other people’s names.
The latest action highlights the role of mule accounts in cybercrime investigations, where tracing the movement of stolen money can be as important as identifying the individuals who initially deceived victims.
Five Accused Identified As Police Trace Account-Supply Network
According to Aerodrome police station in-charge Manoj Sendhav, the five arrested individuals have been identified as Raj Vaidya, 20; Tushar Chauhan, 22; Ayush alias Lucky Prajapat, 21; Ajay Patel, 21; and Ritesh Prajapat, 23.
Investigators suspect that the accused played different roles in supplying bank accounts to people involved in cyber fraud.
The preliminary investigation indicates that Raj, Tushar and Ayush opened bank accounts at different branches of the Central Bank of India.
Instead of using these accounts solely for their own banking activities, the three allegedly transferred control of them to Ajay and Ritesh in exchange for money.
Police believe Ajay and Ritesh subsequently supplied the accounts to other members of a cyber fraud network.
This suspected arrangement created a chain between the original account holders and the individuals ultimately using the accounts to receive or transfer funds.
According to police, the accused were motivated by the prospect of earning money to support expensive personal spending.
The allegations remain under investigation, and the arrests do not establish the guilt of those accused.
How Mule Accounts Help Cybercriminals Move Stolen Money
A mule account is a bank account used to receive or transfer money on behalf of another person, often to conceal the movement of funds obtained through illegal activities.
In cyber fraud cases, such accounts can provide an important link between victims and the people controlling fraudulent operations.
For instance, money transferred by a scam victim may initially enter an account registered to an individual who has no direct contact with the victim.
The funds can then be transferred onward, making it more difficult for investigators to identify the individuals ultimately controlling the proceeds.
Some mule-account holders knowingly allow others to use their accounts in exchange for commissions. Others may be deceived through false employment opportunities, loan offers or similar arrangements.
In the Indore case, police specifically allege that the suspects knowingly sold their accounts to intermediaries.
The alleged involvement of two intermediaries is significant because it suggests the account suppliers and eventual fraud operators may have been separated by another layer of transactions.
However, investigators have not publicly established the full size of the network or identified every suspected beneficiary.
Police Register Case Under BNS, Search For Other Gang Members
Police have registered a case under relevant provisions of the Bharatiya Nyaya Sanhita (BNS).
Sendhav said investigators are gathering information about additional individuals suspected of being connected to the operation.
The immediate investigation centres on identifying the wider network that allegedly obtained the accounts and used them to transfer cyber fraud proceeds.
The available police account does not specify how many bank accounts were supplied, the total value of suspicious transactions or the number of alleged fraud victims linked to them.
It also does not establish whether the five suspects directly participated in deceiving victims or were involved only in arranging accounts used for subsequent money transfers.
These distinctions will be important as investigators examine the precise roles of the accused and determine whether further criminal proceedings are warranted.
The arrests follow other mule-account investigations carried out in Indore under Operation Matrix. However, the individuals named in this case represent a separately reported development.
Why Selling Bank Accounts Creates Serious Risks
The case illustrates a recurring vulnerability in financial fraud: bank accounts registered through legitimate procedures can be misused when their holders surrender control to third parties.
Allowing another person to operate a bank account can expose its registered holder to criminal investigation if the account is subsequently linked to fraud.
Investigators may examine transaction records, account-opening documents, communication histories and the circumstances in which account access was transferred.
People who receive offers of quick payments in exchange for sharing bank account access should treat such arrangements as a serious warning sign.
Bank account holders should never hand over login credentials, debit cards, passwords or access to their accounts to unknown intermediaries.
The Indore investigation remains ongoing, with police attempting to identify additional members of the suspected network and trace the movement of money through the accounts.
