Bank accounts for hire to cyber scamsters: Delhi cops bust racket | Delhi News – Times of India

NEW DELHI: This syndicate ran an accounts-for-hire racket, renting out bank accounts to cyber scamsters for parking their proceeds of crime. For every fraudulent deposit, it was bagging 10% of the booty. Delhi Police recently busted the syndicate and arrested two suspects. A hunt is on for the others.
To obfuscate any possible trace, the scammers used to initially funnel the money through an online wallet before weaving it through a complex network of bank accounts, a probe has revealed.
A commonly used modus operandi by cyber criminals, it involves misuse of bank accounts opened on forged documents or unrelated people’s names, sleuths say.
Online fraudsters rented bank accounts to launder their gains
The two arrested are Mukul Sharma (23), a BCom graduate; and Lalit Kumar (24), a BTech graduate. Both are residents of UP’s Bulandshahr. DCP Sain said that the probe was initiated after they registered an FIR on a complaint from a woman who was duped of around Rs 42,000.
The incident had taken place on March 20 when the woman had received two messages on her mobile phone regarding unauthorised deductions from her two bank accounts. Based on the statement of the victim a case was registered at Cyber Police Station and investigation was taken up. During investigation, technical surveillance was mounted and the money trail from the bank account was analysed.
“It was revealed that the embezzled funds were deposited into one ‘Khata Book App’ from where they were transferred to a bank account in Bulandshahr. When the details of the suspected account were analysed, the teams identified multiple suspicious transactions within a short time frame,” DCP Sain added.
The location of the account handler was subsequently traced and Sharma was arrested on January 5 following an interstate raid. He led the cops to his associate Kumar.
During interrogation, Sharma revealed that he had come into contact with Kumar, a fellow resident of his village, while looking for a job. Kumar was connected to online fraudsters based in Bihar who sought to rent bank accounts for laundering their ill-gotten gains at a 10% commission.
Eager to address his financial needs, Sharma opened an account and shared the details with Kumar. More than Rs 50 lakh were credited to Sharma’s account in a brief period, earning him a 5% commission while Lalit took the remaining 5%. Upon further investigation, Lalit provided details of additional bank accounts and disclosed his connections with various cyber fraudsters operating from Bihar.
“He facilitated the transfer of cheated money into these bank accounts, receiving a 10% commission. The remaining funds were then redirected through accounts provided by the fraudsters,” the DCP added.

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