according to the website - By Cryptopolitan_News

Indian authorities warn that young people in the country are being used as unwitting intermediaries in international fraud schemes. These scammers typically use them to move criminal proceeds without their knowledge. Indian police recently arrested 24-year-old waiter Ajay, who said he stumbled upon an easy way to earn money.

In his testimony, Ajay said that he thought he had found a way to earn some extra money to increase his income. Ajay, living in the winding streets of Lucknow, said that a friend introduced him to a crypto trader who offered him 20,000 rupees (about 240 US dollars) for using Ajay's bank account for daily transactions.
Ajay noted that after serious consideration, he decided to accept the offer. The next morning, crypto traders transferred several hundred thousand rupees into his account, giving instructions on how to withdraw them and how to meet people who could collect them.

Indian authorities warn the youth
According to Ajay, a few weeks after providing such services, Indian police knocked on his door and demanded a meeting. At that moment, the police informed him that the money he helped the crypto trader transfer was part of a complex international financial crime. They told him that criminals were moving funds through his account to cover their tracks.

After being detained by Indian police, Ajay began to assist them by pointing the way. Investigators stated that they managed to identify the other account holders and intermediaries involved in the syndicate that connected Chowk, Indira Nagar, and the Sushant golf club with curators from Cambodia, Laos, Vietnam, and Thailand. Investigations conducted by the Indian police's Crime Branch and Cyber Block over the past three months have uncovered dozens of mule accounts. These accounts are typically owned by young people from the region and have become instruments for moving illegal proceeds.

Many of these account holders are ordinary people, most of whom work in restaurants, small shops, and contract jobs. Others are college students hired with the promise of earning 10,000 to 30,000 rupees as commission for providing their accounts to intermediaries who transfer cyber fraud proceeds to them. Part of these funds is converted into digital assets, especially USDT, using peer-to-peer networks.

Police claim that operations are conducted on Telegram
According to Indian police, operations are carried out in encrypted Telegram channels managed by Chinese intermediaries. Local recruiters are often accused of gathering accounts bypassing proper KYC procedures. On transaction days, the mule account owners are taken to the bank to withdraw funds and then hand them over to brokers who convert them into cryptocurrency.
Most of the funds come from various types of cyber crimes committed across India. Last month, Lucknow police stated that they traced money laundering through such accounts to 5 crore rupees (570,000 US dollars). The networks avoid legal channels by masking their activities as cryptocurrency trading to remain unnoticed by the authorities.

Police stated that they have already arrested about 60 young people whose accounts were used as mules in cases involving crores of rupees. 'These young people are not hardened criminals, but their actions enable large-scale fraud,' said PTI Deputy Commissioner of Police of South Lucknow Rallapalli Vasant Kumar. 'Several young people expressed remorse, admitting that they underestimated the legal risks,' he added.


$BTC , $XRP , $BNB

#Сryptomarketnews , #TrumpTariffs

Here, our subscribers will be the FIRST to learn about all the most interesting changes in the news agenda of the financial world and cryptocurrency. Everything in one news feed!!!

Welcome to us! There are enough news for everyone!!! 😉