NEW DELHI: The Central Bureau of Investigation (CBI) has conducted raids at 42 locations across five states in connection with a vast network of mule bank accounts used to siphon off funds obtained through cyber fraud. Nine individuals have been arrested in the operation, officials said on Thursday.
The searches, carried out under Operation Chakra-V, took place in Rajasthan, Delhi, Haryana, Uttarakhand, and Uttar Pradesh. The CBI stated that the action followed specific intelligence inputs targeting organised cybercriminals who had opened approximately 8.5 lakh mule bank accounts across more than 700 branches of various banks nationwide. These accounts have now been deactivated.
“Acting on specific source information and after verification, CBI officers launched coordinated searches at 42 locations across five states as part of Operation Chakra-V to tackle the growing menace of mule bank accounts opened by organised cyber fraudsters,” a CBI spokesperson said.
These fraudulent accounts were allegedly used to facilitate various types of digital scams, including impersonation, fake advertisements, investment fraud, and UPI-based financial crimes. The accounts enabled the transfer and withdrawal of illicit funds from unsuspecting victims.
The investigation has revealed the involvement of bank officials, agents, aggregators, bank correspondents, middlemen, and e-Mitra operators. They are accused of helping open mule accounts by circumventing KYC norms, customer due diligence, and standard risk assessment procedures.
The CBI has registered a First Information Report (FIR) citing charges of criminal conspiracy, cheating, forgery, use of forged documents, and criminal misconduct by public servants under the Prevention of Corruption Act.
During the raids, CBI officers seized a significant amount of incriminating material, including mobile phones, bank account opening forms, transaction records, and KYC documents. So far, nine accused—including middlemen, agents, account holders, and banking correspondents—have been arrested for their alleged involvement in the conspiracy.
The operation marks a major step in the CBI’s intensified efforts to crack down on cyber fraud and financial crimes in India.