Navi Mumbai Cyber Police have launched a major crackdown on an alleged nationwide mule bank account network after identifying several suspicious bank accounts allegedly used to receive and channel proceeds of cyber frauds reported across India. Acting on money trail analysis shared by the Indian Cyber Crime Coordination Centre (I4C) and Maharashtra Cyber, police have registered two separate criminal cases against unidentified account holders and other suspected users linked to the accounts. Investigators say the accounts were allegedly used to receive funds obtained through various cyber frauds before transferring the money to other accounts or withdrawing it in cash.
According to police, the action follows an extensive analysis of financial transactions available through the National Cyber Crime Reporting Portal (NCRP). The investigation found that multiple accounts maintained with Fino Payments Bank and Indian Overseas Bank had allegedly been used as mule accounts to facilitate the movement of fraud proceeds generated through cybercrime incidents reported from different parts of the country. Officials are now working to identify the individuals operating these accounts as well as the larger criminal network behind the transactions.
In the first case, based on a complaint filed on behalf of the government by a cyber police constable, investigators identified three suspicious accounts maintained with Fino Payments Bank. The accounts were found to be linked with 154, 187 and 1,809 cyber fraud complaints, respectively, taking the total number of complaints connected to these accounts to 2,150. According to investigators, analysis of the money trail revealed that funds allegedly obtained through cyber frauds were deposited into these accounts before being transferred to other accounts or withdrawn. The suspected transactions are stated to have occurred between 12 February 2024 and 17 March 2026.
In the second case, initiated on the basis of a complaint lodged by an Assistant Police Inspector, investigators identified four suspicious accounts maintained at an Indian Overseas Bank branch in Vashi, Navi Mumbai. These accounts were allegedly linked to 303 cyber fraud complaints reported from across the country. Police believe the accounts were similarly used to receive fraudulent proceeds, transfer the funds onward or facilitate cash withdrawals. The transactions under scrutiny in this case reportedly took place between November 2025 and May 2026.
Investigators believe the suspected mule accounts formed an important financial layer in organised cyber fraud operations. According to police, cybercriminals often lure victims by promising high returns through fake investment schemes, share market opportunities, part-time job offers, digital arrest scams and other fraudulent schemes. Once victims transfer money, the funds are routed through multiple mule accounts to conceal the identity of the beneficiaries before being dispersed through additional bank accounts or withdrawn using ATMs and cheques.
Officials stated that the suspicious accounts were identified after detailed examination of complaint data and transaction patterns available through the I4C’s NCRP platform. The financial trail is now being analysed to identify the ultimate beneficiaries, the individuals operating the accounts and any organised syndicate responsible for coordinating the transactions. Digital evidence, banking records and transaction histories are also being examined to establish the complete flow of funds.
Police have registered cases against unidentified account holders and other suspected users under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) relating to cheating, criminal conspiracy and common intention. Investigators are also coordinating with financial institutions and other agencies to trace additional linked accounts that may have been used during the alleged frauds.
Cybercrime investigators say mule bank accounts remain one of the most critical tools used by organised cybercriminals to launder fraud proceeds and obscure financial trails. Authorities have appealed to members of the public not to rent, sell or allow others to use their bank accounts in exchange for money or commissions, warning that account holders may face criminal liability if their accounts are used in cybercrime. Police said the investigation is continuing, and further legal action will depend on the financial and digital evidence collected during the ongoing probe.
