After Hyderabad, a big action has been taken by Police in Rajkot, Gujarat.
In Gujarat’s Rajkot district, 20 people have been arrested so far as part of “Operation Mule Hunt”, including three officials from private sector banks—Yes Bank, Axis Bank and HDFC Bank.
A few days ago, the Hyderabad City Police had arrested 52 persons, including 32 bank officials, in a coordinated multi-state crackdown on organised cyber fraud networks under ‘Operation Octopus 2.0’.
Now the arrest of Bank employees by Gujarat Police has created a stir in the entire banking industry.
The investigation in cyber fraud has widened significantly. Police now estimating the total value of suspicious transactions at over ₹2,500 crore, up from an earlier estimate of ₹1,500 crore.
The three arrested Bank employees have been identified as Maulik Kamani, a personal manager at Yes Bank in Padadhari; Kalpesh Dangariya, a manager at Axis Bank in Jamnagar; and Anurag Baldha, a personal banker with HDFC Bank. Vijay Gurjar, Dangariya and Baldha had previously worked with Yes Bank.
Police allege that the accused facilitated the creation and operation of fraudulent or suspicious bank accounts used in the cyber fraud network.
Kamani allegedly helped earlier accused open and manage accounts flagged for unusual activity. He is also accused of helping bypass banking alerts triggered by high-value transactions by submitting additional documentation to keep accounts active. Investigators said he was involved in cash withdrawals later routed through hawala channels, with digital evidence recovered from his mobile device.
Dangariya is accused of aiding the opening of accounts using fake or misrepresented identities. Police said he also helped structure documentation, including papers linked to Agricultural Produce Market Committee (APMC) transactions, to avoid scrutiny.Baldha allegedly opened new accounts following verification and certification processes as part of the racket.
Authorities have identified 85 bank accounts linked to the operation so far. A total of 535 complaints have been registered on the national cybercrime portal in connection with the case.
All three bank officials are currently in police custody, while other accused are lodged in jail under judicial remand.
The investigation is ongoing and more details will be released soon.
Click here to read about the action taken by Hyderabad Police and arrest of Bank employees
