Cyberabad police arrest 7 in online trading fraud mule account case
Cyberabad Cybercrime Police arrested seven persons for allegedly operating a mule account network in an online trading fraud case. The accused reportedly routed and laundered cyber fraud proceeds through multiple channels, with further investigation underway to identify the masterminds.
Hyderabad: The Cyberabad Cybercrime police have arrested seven persons in an online trading fraud case for allegedly operating a mule account network used to route cyber fraud proceeds.
Police said the gang arranged bank accounts, supplied account holders, collected and transported cash, and facilitated money laundering for organised cybercrime syndicates.
Police investigation revealed that fraud proceeds were withdrawn in cash and passed through multiple accused before being delivered to handlers within the network.
Further investigation is underway to trace other beneficiaries and the masterminds behind the racket, police said.
