VISAKHAPATNAM: Visakhapatnam is witnessing a surge in cybercrime, with ww cybercriminals using mule bank accounts to siphon off large sums from unsuspecting victims.
Speaking to TNIE, Visakhapatnam Commissioner of Police (CP) Shanka Brata Bagchi revealed that the fraudsters are either opening accounts using fake documents or renting accounts from individuals for a commission. Once the stolen money is received, it is quickly transferred, and the original accounts are shut down or abandoned, he added.
Bagchi warned that anyone renting out their accounts to cybercriminals will now be treated as accused and face prosecution.
“People are opening current accounts and renting them out without understanding the legal consequences,” he said. The CP added that police have identified thousands of such accounts and arrested several individuals. In some cases, stolen money has been recovered.
Cyber gangs are also creating fake shell companies using innocent individuals’ identities to open bank accounts, which are then sold to fraud networks. Many victims are unaware their details are being misused.
Cybercrime Inspector K Bhavani Prasad, speaking to this newspaper, said that 15,000 to 20,000 mule accounts have been found in Visakhapatnam city alone, with many still under investigation.
Bhavani Prasad noted that some cooperative banks are aiding in the creation of these accounts. The officials urged the public not to rent or share their bank details with strangers, warning that doing so may lead to legal action.