CBI Registered Case against Bank Officials for opening Mule Accounts without proper verification

The Central Bureau of Investigation (CBI) has arrested three people for their involvement in a cybercrime case.

Based on specific information, the CBI’s Economic Offences Branch (EOB) in Mumbai registered a case against a person holding a mule account, along with some unknown cyber fraudsters, bank officials, and other unidentified people. The case is related to a cyber fraud where ₹3.81 crores were received in a single day — on 2nd July 2025 — into a mule account from several cybercrime victims.

After the money was received, it was quickly transferred to over 100 mule accounts across the country in the first stage. From there, the funds were moved through thousands of other accounts to finally reach the main cyber fraudsters. This technique is known as “layering” and is often used to hide the money trail.

During the investigation, CBI uncovered a complete plan involving bankers and middlemen who opened the mule account without following proper rules such as KYC (Know Your Customer), Customer Due Diligence, or risk checks. These actions were in violation of the RBI’s rules and the bank’s own internal guidelines.

During searches, the CBI seized many important documents and digital items like mobile phones, an iPad, bank account forms, transaction details, and KYC papers. They also identified the people involved — including middlemen who helped open the fake account in Mumbai, arranged a stay for the account holder in Nagpur, and coordinated with other agents in Nagpur to move the money further.

The CBI also found that the Nagpur agents and the mule account holder were paid their commission in cryptocurrency, which was later shared among other members of the group.

All three arrested individuals are currently in judicial custody. The investigation is still going on, and more information will be shared soon.