Cybercriminals used over 65,000 mule accounts in Karnataka in 2024: Report
Bengaluru: Cybercriminals used more than 65,000 mule bank accounts from Karnataka in 2024 to funnel illicit funds, according to data from the Indian Cybercrime Coordination Centre (I4C), an agency under the Ministry of Home Affairs.
The data, which was cited by Deccan Herald on Monday, indicates that these accounts form only the first layer of fraudster accounts, and the actual numbers may be far higher. The first layer refers to the initial accounts that victims are tricked into transferring their money to, at the behest of cyber fraudsters.
Mule accounts play a crucial role in the operation of cybercrimes by acting as intermediaries between the victim’s bank account and the scammer’s account. These accounts are often created, rented, or purchased by cybercrooks.
Karnataka ranked fifth among Indian states for the number of first-layer mule accounts. It trailed behind Maharashtra, Rajasthan, Haryana, and Uttar Pradesh, the report added.
Investigators have pointed to negligence by banks as one of the primary reasons behind the proliferation of mule accounts. Despite technological advancements, many banks lack robust monitoring systems to track suspicious accounts and transactions effectively.
"Banks have the responsibility of monitoring suspicious accounts and transactions, but they are often compromised. There is no proper existing system for monitoring such things in many banks, despite technological advancements," DH quoted an Assistant Commissioner of Police-rank investigator as saying.
Furthermore, there are growing concerns about the potential leakage of customer data by bank employees. The officer added the bank representatives not only give out contact information of people but also give details of gullible individuals holding bank accounts with no activity.
These accounts become prime targets for fraudsters, who approach the account holders to buy or rent them for use in scams.
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Indian Defence forces committed to adapting to changing environment: CDS General Chauhan
Hyderabad (PTI): Asserting that war and warfare is at the cusp of a major revolution, Chief of Defence Staff (CDS) General Anil Chauhan on Saturday said the Indian Defence forces are committed to adapting to changing environment and imbibing reforms to remain ready and relevant.
Addressing the Combined Graduation Parade (CGP) of 216 Course held at the Air Force Academy at Dundigal near here, General Chauhan said India's strength rests on robust institutions, democratic stability, and unwavering professionalism of our Armed Forces.
He said the intensity of operations may have ebbed, but Operation Sindoor continues.
"You (new officers) also join the Air Force at a moment when a new normal has firmly taken shape. An era defined by a high degree of operational preparedness, 24-7, 365 days. The intensity of operations may have ebbed, but Operation Sindhur continues," he said.
He further said the newly trained officers are entering the Indian Air Force during a phase of deep transformation of the Indian Armed Forces.
Integrated structures, joint operations, and national pursuit of Atmanirbhar Bharat in defence are shaping the future of India's military strength, he said.
"Your journey ahead will be accordingly guided by Jai, the first word of Jai Hind, that's victory. 'J' stands for jointness, fighting as one nation, one force. 'A' stands for Atmanirbhar Bharat, trusted platforms and systems made not just for India but for the world. And finally, 'I' for innovation, daring to think ahead and to be ahead of the curve," he explained.
General Chauhan further said battles in the older domains will always remain contested, often brutal. But in the new domains, they will be smart, swift, and shaped by intellect, innovation, and initiative. The force that masters new frontiers is more likely to prevail in future conflicts.
