Bengaluru: Fake bank account racket busted, four held for aiding cyber fraudsters

In a major breakthrough, the Bengaluru Cyber Crime Police have arrested four people who were allegedly creating fake bank accounts and supplying them to cyber fraudsters operating in the city and rural areas. The accused had built a well-organized network, creating over 357 fake bank accounts using forged documents and stolen identities.

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According to investigators, the gang would open accounts in other people’s names, often using fake IDs and documents and then sell these mule accounts to online scammers for Rs 50,000 per account. In addition, they earned a 5% commission on every transaction routed through these bogus accounts.

Police sources revealed that transactions worth over Rs 1 crore have already been routed through these fake accounts, helping cyber criminals launder illegal money without being traced. This racket not only enabled fraudsters to remain anonymous but also made tracking the money trail extremely difficult for law enforcement agencies.

Police suspect that more people are linked to this racket and that some bank staff might have been complicit in allowing these fake accounts to be opened without proper verification. Investigations are underway to identify any insiders who might have facilitated the scam.

During the operation, the police seized one laptop, four mobile phones, and multiple bank cheque books from the accused. Officials believe the arrested gang may be part of a larger syndicate operating similar rackets across the region.

A case has been registered at the Cyber Crime Police Station, and further investigations are ongoing. Police have urged the public to stay vigilant, safeguard personal documents, and report any suspicious banking activities to prevent falling victim to such scams.