Six arrested in Cyberabad for supplying mule accounts to trading scamsters

Cyberabad Cybercrime officials have arrested six members of an interstate syndicate accused of supplying mule bank accounts and SIM cards to operators of online trading scams. The gang allegedly facilitated fraud worth over Rs. 1 crore, with forensic analysis linking them to nearly 400 cases across India.

Hyderabad: The Cyberabad Cybercrime officials have arrested six members of an interstate fraud syndicate that allegedly supplied mule bank accounts and SIM cards to operators of online trading scams across multiple States, who allegedly swindled over Rs 1 crore from citizens.

The arrested persons are V Srinivas Rao, Ch Ganesh, G Naveen Kumar Reddy, S Rajesh, M Sudheer and Mohd Ashraf, residents of Telangana and Andhra Pradesh.

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According to the Cybercrime officials, the gang procured bank accounts and SIM cards, which were handed over to cyber fraudsters running fake trading platforms. Victims were shown fabricated profit dashboards and persuaded to transfer money into these mule accounts, enabling large-scale financial trafficking for commission.

“Forensic analysis of seized devices revealed 60 cheque-leaf images and digital evidence linking the network to around 400 cyber fraud cases nationwide, including three cases within Cyberabad,” said a senior official.

The gang operated a commission-based chain, with payments ranging from Rs 10,000 per account to Rs 1 lakh per crore of transaction volume. One member also supplied accounts to foreign operators through a Telegram ID. Efforts are on to nab the absconding suspects in the racket.