Cyber Crime Police have arrested two men for their alleged involvement in a cyber fraud and money laundering network linked to Chinese cybercriminals operating through Dubai. Investigators found that the accused allegedly operated multiple mule bank accounts to receive and transfer proceeds of online fraud, with transactions linked to 338 complaints involving approximately ₹410 crore.
The arrested men have been identified as Abdul Rehman Akukara, 23, a resident of Rander, and Mohsin alias Tunnu Khan, 38, of Nanpura. Both were arrested near Civil Crossroads on Saturday.
How Did the Police Uncover the Racket?
The arrests followed an investigation into a ₹23.28 lakh investment fraud involving a Surat resident who was allegedly deceived with promises of high returns from stock market investments.
According to police, the victim was persuaded to download a mobile application through which a stock trading account was created. The victim subsequently transferred ₹23.28 lakh into the account but was unable to withdraw the money.
The investigation into the fraudulent transactions led police to a network of bank accounts allegedly used to collect and transfer money obtained from victims across the country.
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How Were Mule Bank Accounts Operated?
During the investigation, police discovered that Akukara had established a firm named Mansuri Digital Trading in Khan’s name. The firm was allegedly used to open current accounts with Central Bank of India, Bank of Maharashtra, Canara Bank and Axis Bank.
Investigators also identified 12 savings accounts opened across different banks.
Police alleged that Akukara operated these mule accounts to receive proceeds of cyber fraud in exchange for commissions. Analysis of banking transactions and information recovered from mobile phones indicated that the accounts formed part of a wider financial network.
In one current account maintained with Central Bank of India, investigators identified transactions totalling ₹1.19 crore between August 24 and September 19. The account was linked to 18 online fraud complaints.
What Did Police Recover During the Investigation?
A search of Akukara’s residence led to the recovery of 12 mobile phones containing banking applications and financial information allegedly connected to the network.
Investigators found mobile banking applications belonging to 13 banks, details of 30 debit cards, transaction records associated with 96 bank accounts and 11 email IDs.
Police also seized 17 debit cards issued in India and Lithuania, two chequebooks and other banking materials.
Further examination of account details allegedly connected to Akukara’s operations revealed transfers flagged in 338 complaints registered on the National Cyber Crime Reporting Portal.
The complaints collectively involved alleged fraud amounting to approximately ₹410 crore, indicating the scale of the suspected network under investigation.
How Was the Fraud Money Transferred to Dubai?
Investigators alleged that money received through the mule accounts was converted into cryptocurrency before being transferred to the syndicate.
Police Inspector Y S Sisodiya of the Cyber Crime unit said the accused purchased USDT using proceeds received in the accounts and transferred the cryptocurrency to the syndicate after deducting commissions.
According to the inspector, the commission was not fixed and varied depending on the fraud.
The alleged arrangement enabled the network to receive money through domestic bank accounts before transferring the proceeds through cryptocurrency transactions.
What Is Known About the Accused?
Police identified Akukara as a second-year civil engineering student in Lithuania who had returned to India approximately three months before his arrest.
Investigators alleged that he played a role in establishing and operating the mule account network used to receive and move fraudulent funds.
Khan was allegedly associated with the operation through the firm established in his name and the bank accounts opened for its activities.
The arrests have brought attention to the suspected use of business accounts, personal banking facilities and cryptocurrency transfers in a cyber fraud network allegedly connected to operators based outside India.
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