Indian authorities are sounding the alarm – more and more young people are becoming unwitting “mules” in large-scale international financial fraud schemes. Criminal networks use their bank accounts to transfer huge sums of illicit money, often without the account holders realizing it.

The Waiter Lured by Easy Money

One recent case involves 24-year-old waiter Ajay from Lucknow. He told police that a friend introduced him to a “cryptocurrency trader” who offered him 20,000 rupees (around $240) to use his bank account for a single day. Eager to supplement his modest income, Ajay accepted.

The next morning, hundreds of millions of rupees were deposited into his account. He received detailed instructions on how much to withdraw and where to meet people who would collect the cash. Ajay had no idea he had just stepped into a sophisticated international fraud scheme.

From Collaborating with Criminals to Helping Police

Weeks later, Indian police knocked on his door. Investigators informed him that his account had been used to launder proceeds from cybercrime. Ajay began cooperating, providing leads that helped track down other account holders and intermediaries linked to a criminal syndicate with ties to Cambodia, Laos, Vietnam, and Thailand.

How the “Mule” Account System Works

According to India’s cybercrime units, this is a well-organized network that, over the past three months, has exploited dozens of fake or rented accounts. These accounts often belong to young people from poorer neighborhoods, students, or employees of small businesses.

They receive commissions of 10,000–30,000 rupees for “loaning” their accounts. The money is then routed through peer-to-peer networks and converted into digital assets, most commonly the stablecoin USDT.

Telegram as the Operations Hub

Police found that coordination happens via encrypted Telegram channels operated by Chinese handlers. Local recruiters source the accounts while deliberately bypassing standard identity verification (KYC).

On transaction days, mule account holders are taken to the bank to withdraw cash, which is then handed over to “brokers” who convert it into cryptocurrency and transfer it overseas.

Alarming Figures and Police Action

In just one month, Lucknow police traced 5 million rupees (around $570,000) laundered through these accounts. Around 60 young men have been arrested for having their accounts used in frauds worth millions of rupees.

“These young people are not hardened criminals, but their accounts enable the functioning of large-scale fraud operations,” said Rallapalli Vasanth Kumar, Deputy Commissioner of Police for South Lucknow, to PTI. He added that many expressed remorse and admitted they underestimated the legal risks.


#cybercrime , #CryptoFraud , #MoneyLaundering , #CryptoCrime , #CryptoSecurity

Stay one step ahead – follow our profile and stay informed about everything important in the world of cryptocurrencies!

Notice:

,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“