The Central Bureau of Investigation has arrested three persons for their alleged involvement in a cyber crime case, according to a press release issued on Sunday.
After a proper verification of specific source information, the CBI's economic offences branch in Mumbai filed a case against a mule account holder, unknown cyber fraudsters, unknown bank officials and an unknown other for committing the cybercrime.
Sudhir Bhaskar Palande, identified as the mule account holder, along with Yash Thakur, the alleged middleman and Shaurya Sunilkumar Singh, the alleged operator are the three accused arrested by the CBI and currently kept under judicial custody.
Detailing the alleged cyber crime, the agency, in a release said that on July 2, a sum of Rs 3.81 crore was received in the said mule account from multiple cyber crime victims. The credited amount was further transferred to more than hundred mule accounts opened pan India in first layer, the release said.
The amount of cyber fraud was further transferred to thousands of accounts before reaching to actual cyber fraudsters.
"During the investigation, CBI unearthed the entire conspiracy of opening of said mule account by the bankers and the middlemen without proper KYC norms or Customer Due Diligence or Initial Risk Assessment.As part of the search operation, the CBI caught hold of incriminating documents, digital evidence, mobile phones, iPads, account opening forms, transaction records, and KYC papers," the release stated.
Investigators unearthed individuals including the middlemen who supported the creation of mule accounts in Mumbai. He arranged the stay facility for account holders in Nagpur and transferring fund to other mule accounts through agents based in Nagpur.
The fake Nagpur based agents and mule account holders received their commission through cryptocurrency, further distributing the amount to other co-conspirators.
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