India News | Odisha STF Busts 'mule' Bank Account Racket, 3 Held

Bhubaneswar Oct 19 (PTI) The special task force (STF) of the Odisha Police has busted an interstate racket of opening 'mule' bank accounts and arrested three persons in this connection, an official said on Thursday.

The three - two from Balasore and one from West Bengal's Paschim Medinipur district - were apprehended here on Wednesday for being involved in the racket, he said, adding that the mastermind was among those arrested.

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They were operating mainly in the tri-junction area, especially in the districts of Balasore, Mayurbhanj in Odisha, Purba and Paschim Medinipur in West Bengal and East and West Singhbhum and Saraikela in Jharkhand, the official said.

Explaining the modus operandi of the racket, the STF official said the main accused had employed around 10-15 people for a monthly emolument of Rs 15,000 each to open bank accounts.

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"These people usually visit interior areas of the districts, targeting mainly poor villagers and tribals, and lure them to open bank accounts. Villagers were generally offered Rs 2,000 per account for giving their documents and opening bank accounts.

"The gang then sells these bank accounts along with the linked mobile numbers at a rate of Rs 15,000-20,000 per account to cyber criminals based in Kolkata and other parts of India," the STF official said.

They were using social media platforms to sell the 'mule' bank accounts, he said.

A money mule refers to someone who transfers illegally acquired money on behalf of someone else for a short-term profit. Criminals often recruit money mules to help launder proceeds derived from illegal activities.

The task force also found that the swindlers abandon the bank accounts once the total transactions reach an amount of Rs 1 lakh.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)