KOCHI: Mule-account brokers in Keralam, who once limited their role to procuring bank accounts and SIM cards for cyber-fraud gangs, are now allegedly managing the next stage of the operation: recruiting people to withdraw stolen money and routing it through multiple intermediaries before it reaches operators across the country. Investigators suspect the growing network to have also reeled in local drug peddlers, turning account brokerage into a wider criminal enterprise.
The arrest of three alleged brokers in Kochi has exposed links between Keralam-based intermediaries and cyber-fraud gangs suspected to be operating in Rajasthan, Haryana and other northern states. Unlike in cases where brokers are identified after stolen money is traced to their accounts, the Kochi suspects were caught on November 7 near the KSRTC bus stand while allegedly collecting banking details.
They reportedly lured people with offers of money and collected their passbooks, ATM cards, cheque books and SIM cards for supply to cyber-fraud operators. Police are probing possible interstate links, and more arrests are likely, an officer said. “This is a multi-layered network. Brokers who arrange bank accounts and SIM cards for cyber fraudsters are now also recruiting people to withdraw the money and channel it through other intermediaries before it eventually reaches the cyber gangs,” a senior police officer investigating the cases said.
Investigators suspect that cash withdrawn by these agents is eventually routed to operators through hawala channels. The recruitment of withdrawal agents is believed to create another layer between account brokers and those running the fraud. By using third persons to withdraw cash, the networks seek to prevent those coordinating the transactions from appearing on bank or ATM surveillance cameras.
The growing overlap between the drug trade and cyber-fraud networks is another concern for investigators.
Following Operation Toofan, police began scrutinising the bank accounts of several drug peddlers as part of detailed investigations into their financial transactions. In several cases, investigators found that mule accounts were being used for drug-related transactions.
During a visit to a prominent migrant hub in Ernakulam, a man from Assam, identified as Raju Boro, alleged that some drug dealers were using mule accounts for their own transactions and maintaining contacts with cyber gangs through prison networks.
On November 11, six people were arrested in Vadakara for allegedly allowing cyber-fraud operators to access their bank accounts for commissions. Investigators traced transactions totalling `38.65 lakh through six accounts, while cases were registered against 21 people. Some accused allegedly withdrew money through ATMs and cheques before transferring it to operators.
Two other recent cases in Ernakulam illustrate the role of withdrawal agents. In Perumbavoor, `11 lakh from a victim’s account was credited to an accused’s Union Bank of India account and allegedly withdrawn using a cheque the same day. In another case, `40,000 was credited to an accused’s SBI account and withdrawn from an ATM in Ernakulam the same day.
For investigators, the challenge is now to trace the entire chain — from those procuring accounts and ultimately identify the operators receiving the proceeds.