Gujarat Police Busts Biggest Cyber Crime Case Involving Rs 310 Crore
Police in Gujarat’s Gir Somnath have busted a cyber fraud racket involving suspicious transactions of more than Rs 310 crore through mule bank accounts, with the investigators terming it as the biggest cyber crime case detected in the district so far.
Operation Mule Hunt: A State-Wide Crackdown on Cyber Fraud Networks
As part of the state-wide “Operation Mule Hunt 2.0”, launched recently to identify mule account holders, crack down on cyber fraud networks and facilitate recovery of money lost by victims, the Cyber Crime Police Station registered a case.
Superintendent of Police Jaideepsinh Jadeja said the operation aims to ensure that money lost by cyber crime victims is returned at the earliest and to curb the growing practice of renting out bank accounts for illegal activities.
The Role of Mule Accounts in Cyber Fraud
A mule account is a bank account used by criminals to receive, transfer, or launder illicit funds with or without the knowledge of the account holder.
The account holder allegedly rented out his bank accounts for cyber fraud activities in exchange for commission, said a release by district police.
Market Impact and Details
- The investigation centred on Akash Pala, a resident of district capital Veraval, whose two bank accounts were allegedly used for cyber fraud transactions across the country.
- One account in Bank of India was linked to 193 complaints registered on the National Cyber Crime Reporting Portal (NCCRP) and showed suspicious transactions worth about Rs 282 crore.
- Another account in Canara Bank was linked to 97 complaints involving transactions of around Rs 37 crore.
- A total of 290 complaints from different parts of the country were linked to the two accounts, with suspicious transactions exceeding Rs 310 crore.
Key Takeaways
- The biggest cyber crime case registered in the district was busted by the police, with the operation aiming to return money lost by cyber crime victims at the earliest.
- The case was registered as part of the state-wide “Operation Mule Hunt 2.0”, launched to identify mule account holders and crack down on cyber fraud networks.
- The police arrested five persons, including Akash Pala, Deepak Giri, Hiren Rajgor, Ajay Dafda, and Ashutosh Thakar, in connection with the case.
FAQs
What is a mule account?
A mule account is a bank account used by criminals to receive, transfer, or launder illicit funds with or without the knowledge of the account holder.
How many complaints were linked to the two bank accounts?
A total of 290 complaints from different parts of the country were linked to the two accounts, with suspicious transactions exceeding Rs 310 crore.
What is the state-wide “Operation Mule Hunt 2.0”?
The state-wide “Operation Mule Hunt 2.0” is a crackdown on cyber fraud networks and aims to identify mule account holders and facilitate recovery of money lost by victims.
Conclusion
The police have busted a cyber fraud racket involving suspicious transactions of more than Rs 310 crore through mule bank accounts, with the investigators terming it as the biggest cyber crime case detected in the district so far.
The operation aims to ensure that money lost by cyber crime victims is returned at the earliest and to curb the growing practice of renting out bank accounts for illegal activities.
The police have arrested five persons in connection with the case, and further investigation is underway to identify other persons involved in the network and trace the flow of funds.
The case highlights the need for vigilance and awareness among citizens to prevent cyber fraud and protect their financial information.
As the police continue to crack down on cyber fraud networks, it is essential for individuals to be cautious and report any suspicious transactions to the authorities.
