Women’s bank accounts being misused as mule accounts in cyber, drug crimes: Telangana police uncovers alarming trend

During recent investigations, the Telangana Cyber Security Bureau (TGCSB) and the Telangana Anti-Narcotics Bureau (TGANB) uncovered a troubling pattern where women, particularly those from vulnerable backgrounds, were deceived into sharing their banking credentials through false assurances. Disturbingly, in some instances, the exploitation extended to cases of sexual harassment and abuse.

Hyderabad: A rather concerning trend which was uncovered by the State police recently is that of drug traffickers and cyber fraudsters increasingly exploiting women’s bank accounts as “Mule Accounts” to carry illegal financial transactions.

The Telangana Cyber Security Bureau (TGCSB) and the Telangana Anti-Narcotics Bureau (TGANB) during their recent investigations have identified a pattern where women, often from vulnerable backgrounds, were lured into providing their banking credentials under false promises. In some cases, going a step ahead, some women were also sexually harassed and exploited.

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Recently, the TGCSB had busted an organised racket where cyber crooks had in Bhainsa in Nirmal, forced vulnerable women into opening bank accounts. They also collected the passbooks, chequebooks, debit cards, and SIM cards linked to these accounts, which were subsequently used in various cyber frauds across the country.

“Investigations revealed that cyber fraudsters were targeting women and taking their accounts as mule accounts or creating one for them and using for transactions. These mule accounts have been instrumental in a range of cybercrimes, including investment scams, job frauds, digital arrest scams, and courier frauds,” said an official from TGCSB.

The exploitation of women’s bank accounts is not limited to cybercrimes.

The TGANB has also recently reported instances where drug traffickers have used similar tactics to launder money obtained from narcotics sales.

By channeling funds through accounts held by unsuspecting women, these criminals aim to conceal the money trail and evade law enforcement scrutiny.

“To get back the payments made by the customers, drug racketeers are going to an extent of trapping women and taking their bank account and credit card numbers and using it for deposits towards drug purchase in their accounts,” said an official from TGANB.

Officials said women are targeted through friendship and dating sites and social media channels targeting mainly single and divorced women in India and abroad. After the money is deposited by the customers abroad into the mule accounts, it is withdrawn with the help of money transfer services.

“This is how the money which is earned by the drug sales is illegally diverted through different sources and everyone in this chain including the Forex agents taking their commission knowing it is illegal to receive money through different channels,” the official said.

Authorities urged women not to share personal banking information with strangers on social media.