Navi Mumbai (Maharashtra): The Navi Mumbai Cyber Police have registered a First Information Report (FIR) against three bank account holders for allegedly facilitating the transfer and misappropriation of funds linked to online fraud through suspected mule bank accounts. According to investigators, transactions exceeding ₹11.48 crore were routed through the accused persons’ bank accounts between November 12, 2025, and February 27, 2026. Police suspect the accounts were used to receive and transfer proceeds of cyber fraud while concealing the origin of the funds.
According to the police, the preliminary investigation revealed that ₹11,48,23,733 was allegedly credited to the accused persons’ bank accounts and subsequently transferred to multiple accounts or otherwise misappropriated. Based on these findings, the Cyber Police registered an FIR under the relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and initiated a detailed investigation into the financial transactions, digital evidence and banking records.
Investigators are analysing the operation of the bank accounts, the source of the funds, the identities of the beneficiaries and the complete transaction trail. Authorities are also examining whether the accounts functioned as mule accounts for an organised cybercrime syndicate and whether they are linked to online fraud cases reported in other parts of the country.
Police officials said no arrests have been made so far. Investigators are scrutinising KYC documents, banking records, digital transactions, mobile phone data and other electronic evidence to establish the role of each accused and identify any additional individuals connected to the alleged network.
In a separate cyber investment fraud case, Mumbai Police recently arrested two accused from Pune for allegedly cheating a Kandivali-based businessman of ₹8.22 lakh through a fake online trading platform and fraudulent IPO allotment scheme. During the investigation, police traced approximately ₹3 lakh of the defrauded amount to the bank account of a Pune-based firm, leading to the arrest of one of the suspects.
During questioning, the arrested suspect allegedly claimed that he worked as a mule account facilitator for a commission and provided information about another individual allegedly operating the account used in the fraud. Police subsequently lured the second suspect, a resident of Rajasthan, to Pune on the pretext of arranging additional mule accounts and arrested him upon his arrival. Electronic devices and documents were seized from the accused, and investigators are examining the wider financial network allegedly operated through these accounts.
Renowned cybercrime expert and former IPS officer Prof. Triveni Singh said organised cybercrime syndicates increasingly rely on mule bank accounts to move and conceal proceeds of online fraud. He cautioned that individuals who allow others to use their bank accounts, ATM cards, cheque books, internet banking credentials or KYC documents in exchange for commissions, employment offers or other financial incentives may unknowingly become part of serious criminal investigations. He advised the public never to share banking credentials or account access with third parties and to immediately report any suspicious financial activity to their bank and law enforcement authorities.
Police said the investigation is continuing and efforts are underway to identify the actual operators of the bank accounts, trace the complete financial trail and determine whether the suspected network has links to cyber fraud cases across multiple states. The allegations against the accused will ultimately be examined during judicial proceedings on the basis of evidence presented before the court.
About the author — Suvedita Nath is a science student with a growing interest in cybercrime and digital safety. She writes on online activity, cyber threats, and technology-driven risks. Her work focuses on clarity, accuracy, and public awareness.
