Police bust mule bank network linked to 54 cybercrime cases worth ₹10 crore, four arrested; Chinese national under scanner

A Chinese national allegedly operating a network of mule bank accounts to launder proceeds from online investment scams has emerged as a key figure in a cyber fraud investigation involving transactions worth approximately ₹10 crore across India. The Hyderabad Cyber Crime Police arrested four men who allegedly facilitated the movement of fraudulent funds through bank accounts opened in the names of other individuals.

The arrests followed an investigation into a complaint lodged by a woman who lost ₹37.40 lakh after being lured into investing in fraudulent online trading platforms through WhatsApp.

According to the police, the woman was approached with a promise of substantial returns on investments. Believing the offers to be genuine, she transferred money to the accounts provided by the fraudsters before realising she had been cheated. She lodged a complaint on April 4, following which a case was registered.

Investigators traced the financial transactions and identified 20 mule bank accounts allegedly used to receive and transfer proceeds from cyber fraud.