Police suspect transactions worth around Rs 350 crore were routed through such mule accounts, linked to cybercrime proceeds generated nationwide. Mumbai: The city crime branch has uncovered a racket in which fraudsters allegedly got taxi drivers to open bank accounts that were used to park and route funds generated through cybercrimes.
Two teams raided their locations and arrested Islamuddin Shaikh (44) and Yaseer Shaikh (26). Investigators examined his KYC documents and statements and found transactions worth Rs 6.98 crore between May 21 and August 20. He handed over passbooks, ATM cards, cheque books, account documents and SIM cards to Islamuddin for Rs 10,000 per account.
Their interrogation led us to the third accused, Abdul Razzak Saif,” said DCP (Detection) Raj Tilak Roshan. Police said Razzak, a cab driver, had opened a bank account and handed over its control to others for money. During questioning, Razzak told police he had opened bank accounts and obtained SIM cards in his name on Islamuddin’s instructions.
officers found a network involved in procuring SIM cards and opening bank accounts in the names of cab drivers While tracking mule accounts. “While tracking these mule accounts, we received information about two suspects operating from Navi Mumbai. Police are examining similar mule accounts opened in other taxi drivers’ names. The police team included inspector Ravindra Teltubande and sub-inspectors Dhananjay Choudhary and Sachin Barate. Further investigation is underway to trace the money trail and identify other members.