Over 4.5 lakh “mule” bank accounts that are being used to launder money from cybercrimes have been closed by the central government in the last 12 months.
The media reports that the State Bank of India, Punjab National Bank, Canara Bank, Kotak Mahindra Bank, and Airtel Payments Bank accounted for the majority of these accounts.
According to the media, the Prime Minister’s Office was recently informed of this by the Indian Cyber Crime Coordination Centre (I4C).
Banks with most mule accounts
The authorities said that scammers were taking money out bank accounts that are typically opened using someone else’s KYC paperwork, both digitally and through checks and automated teller machines.
Additionally, the report said that about 40,000 mule bank accounts had been found at SBI, 10,000 at Punjab National Bank, 7,000 at Canara Bank, 6,000 at Kotak Mahindra Bank, and 5,000 at Airtel Payments Bank.
“Around 1 lakh cyber complaints have been registered with the National Cybercrime Reporting Portal since January 2023, and around ₹17,000 crore in cash has been defrauded in the last one year,” a source was quoted as saying.
Loopholes identified
According to information provided to the Prime Minister’s Office, an interministerial panel found the flaws and instructed state and union territory police forces to take proactive measures to combat such accounts.
It will also be investigated how bank personnel and management open these mule accounts.
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