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BHOPAL — Madhya Pradesh Police has launched Operation Matrix-2, a statewide enforcement drive targeting 4,086 suspected mule bank accounts used to route money stolen through cyber fraud. Running through November 28, the campaign concentrates on first-layer accounts that serve as the initial deposit point for criminal proceeds. Investigators are examining both the titular account holders and the middlemen who procured access to these accounts in exchange for financial commissions. In a strategic shift from earlier operations, priority is being given to cases where both the victim of the fraud and the account holder reside within Madhya Pradesh, streamlining legal procedures and judicial processing.
Comprehensive Scrutiny of Accounts, Documents, and Mobile Identifiers
Under the operational framework, police are working to determine whether the flagged accounts were pre-existing facilities or were opened specifically at the direction of cybercriminals. Verification officers are checking the authenticity of Know Your Customer paperwork submitted during account opening, seeking to uncover whether fraudulent identification was used. Investigators are also questioning account holders to establish if they knowingly aided the syndicates or were coerced and misled by false promises of easy income.
The inquiry extends well beyond basic bank ledgers to encompass registered mobile numbers, transaction trails, and suspected forged SIM card registrations. Cyber officials noted that criminal syndicates rely heavily on layered accounts to sever the financial trail, moving illicit funds through complex web transfers within minutes of the initial deposit. By scrutinizing digital communication logs alongside banking data, police aim to reconstruct the path of defrauded funds and identify the handlers managing operations behind the scenes.
Preceding Phase Yielded 46 Arrests Across 12 Districts
The current campaign builds on the findings of Operation Matrix-1, conducted in January and February 2026 across 12 districts in the state. That earlier effort resulted in 26 First Information Reports and the arrest of 46 individuals, alongside the inspection of roughly 3,330 first-layer accounts. Law enforcement agencies seized 50 mobile phones, 80 SIM cards, and 91 ATM cards, while successfully freezing approximately 13 lakh rupees deposited across various suspect accounts.
Significantly, the initial phase uncovered connections to three interstate syndicates and one international cyber fraud network. The jurisdictional complications encountered while pursuing account holders living in other states during the first phase prompted the department to adjust its current strategy. Focusing on local transactions allows teams to secure immediate custody of suspects and present them before regional courts without the procedural delays associated with cross-border extraditions.
Systematic Action Against Facilitators and Syndicate Members
Authorities confirmed that formal action will be taken against every individual found criminally linked to the identified accounts, distinguishing between active conspirators and unwitting participants. The degree of legal liability will be determined by transaction histories, the scale of financial incentives accepted, and the level of direct contact maintained with fraudulent operators. Investigators are treating intermediaries who recruit account holders as pivotal targets in dismantling the broader infrastructure.
The ongoing operation seeks to disrupt the financial logistics that sustain organized online theft by eliminating accessible local cash-out channels. With field teams deployed across several districts, the coordinated verification process, document auditing, and asset freezing efforts are scheduled to proceed continuously until the November 28 deadline.
