Bank officials held for maintaining mule accounts associated with cyber fraud ring

NEW DELHI: The Central Bureau of Investigation (CBI) has arrested two bank officials for their indulgence in the conspiracy of opening and maintaining mule accounts along with organised cyber criminals, which were used for transnational money transfers through cyber frauds.

The arrested accused have been identified as Shalini Sinha, Assistant Manager, Canara Bank, Patna, and Abhishek Kumar, Business Development Associate, Axis Bank, Patna.

According to CBI, the two have been active in the opening and operationalisation of the mule accounts, as well as providing guidelines to the cyber fraudsters for money mule transactions.

During the scrutiny process, it has come to light that evaluation of digital devices and other incriminating evidence has shown that the accused officials are involved in not only allowing such accounts to be opened but also guiding cybercriminals on how to evade detection through red flags and mechanisms in those systems.

Evidence has also been collected that the accused have taken quid pro quo in giving illegal aid to cyber fraudsters in this conspiracy.