Puducherry's Cyber Crime Police have dismantled a sophisticated cyber-fraud network, allegedly operated by a group including engineering students and graduates, that reportedly siphoned off over ₹90 crore across India. The investigation has led to the arrest of seven individuals, exposing a deep network that used college campuses as a base for its illegal activities.
The Modus Operandi: Mule Accounts and Crypto Links
The scam hinged on the use of mule accounts—bank accounts belonging to unsuspecting or easily persuaded students and members of the public.
- Recruitment: The key accused, identified as Harish (reportedly a college student), is believed to have collected over 20 bank accounts from his fellow students and others by offering small sums of money (reported to be ₹2,500) in exchange for their bank details, passbooks, and SIM cards.
- Fraudulent Transactions: The syndicate used these accounts to launder money obtained through various online financial frauds originating in other states.
- International Links: One of the arrested, Ganesan, reportedly coordinated with cyber criminals in China to convert the defrauded money into cryptocurrency and transfer it abroad via platforms like Telegram, for which they received commissions.
- The Break: The investigation began after two college students complained that their bank accounts had been frozen due to suspicious, fraudulent transactions. This led police to Harish and the subsequent uncovering of the entire network.
Arrests and Seizures
The Puducherry Cyber Police arrested seven individuals, including four engineering graduates, in connection with the racket.
- Arrestees: Identified as Harish, Ganesan, Govindaraj, Yashwin, Rahul, Ayyappan, and Thomas alias Hayagriva.
- Seizures: Police seized significant assets, including ₹5 lakh in cash, 171 cheque books, 75 ATM cards, 20 mobile phones, computers, laptops, credit cards, and a Hyundai Verna car.
The police have cautioned the public, especially students, to be extremely vigilant and never share their bank account credentials, as these details can be easily misused to facilitate large-scale financial crimes.
