New Delhi, July 28 — In a major breakthrough against organised cybercrime, the Cyber Police Station of Delhi’s Central District has unearthed a nationwide mule account syndicate involved in supplying corporate bank accounts to cyber fraudsters operating across India and overseas.
The racket, which is believed to have been active for the past three to four years, is suspected to have facilitated transactions worth more than Rs 70 crore through hundreds of bank accounts linked to cyber fraud cases across the country.
The operation led to the arrest of six key members of the syndicate, including a branch manager of Suryoday Small Finance Bank, while four officials and associates linked to IndusInd Bank were apprehended and bound down for their alleged role in facilitating the opening of fraudulent accounts by bypassing Know Your Customer (KYC) norms.
Police recovered 248 complete bank account kits, 38 SIM cards, 22 mobile phones, 28 fake company rubber stamps, 55 debit and credit cards, Rs 1 lakh in cash, and a Maruti Brezza vehicle during the investigation.
The probe began after a resident of Punjabi Basti in Baljeet Nagar, Delhi, filed a complaint alleging that he had been cheated of Rs 10,000 by fraudsters who lured him with promises of online work-from-home opportunities. The victim was persuaded to transfer money under the pretext of registration and account processing fees before the fraudsters abruptly cut off contact and deleted all communication.
Based on the complaint registered on the National Cyber Crime Reporting Portal (NCRP), an FIR was lodged at Cyber Police Station, Central District, under relevant provisions of the Bharatiya Nyaya Sanhita (BNS).
During the investigation, cyber experts traced a portion of the defrauded amount through multiple layers of transactions to an Axis Bank current account opened in the name of a shell entity called “Damion Traders.” Further technical analysis of financial records, email accounts, and digital footprints led investigators to alleged recruiter Mohit Soni, who was arrested on July 8.
His interrogation exposed a sophisticated network involved in creating and supplying pre-activated mule bank accounts to cybercriminals. Investigators found that recruiters targeted vulnerable individuals, collected their identity documents, and used them to create fake proprietorship firms and shell companies. These entities were then used to open multiple current accounts with the assistance of allegedly complicit bank officials.
According to the investigation, principal coordinator Dishant Khanna played a central role in managing the operation and allegedly worked closely with bank personnel to facilitate rapid account openings. Police alleged that Suryoday Small Finance Bank manager Kundan Kumar accepted illegal gratification, including direct transfers to his personal account, to facilitate the opening of accounts.
Investigators further found that complete bank account kits—including internet banking credentials, cheque books, passbooks, debit cards, registered SIM cards, and fake company stamps—were stored at a rented premises in Shalimar Bagh. These ready-to-use corporate account kits were allegedly sold to cyber fraud networks operating in India as well as in Dubai and the United Kingdom.
Following a raid in Shalimar Bagh, police arrested alleged mastermind Dishant Khanna and his associate Mridul on July 14. The operation yielded substantial recoveries and digital evidence, including WhatsApp chats and financial transaction records, which reportedly pointed towards the involvement of bank officials and intermediaries.
The six arrested individuals have been identified as Dishant Khanna (36), Kundan Kumar (35), Mohit Soni (26), Yogesh Kumar (35), Ranjeet Damion Ekka (41), and Mridul (22). Four others associated with IndusInd Bank, including a bank manager, deputy manager, teller, and an insurance agent, were apprehended and bound down for allegedly facilitating account openings and financial transactions linked to the racket.
Financial analysis conducted by investigators revealed that the 248 recovered accounts were linked to 156 cybercrime complaints registered across 19 states and Union Territories, including Delhi, Maharashtra, Karnataka, Telangana, Uttar Pradesh, West Bengal, Gujarat, Punjab, Kerala, Tamil Nadu, and others.
Police said the linked complaints involve cheated amounts exceeding Rs 20 crore, while more than Rs 70 crore was routed through the recovered accounts. Authorities have frozen approximately Rs 56 lakh so far, while the total disputed amount is estimated at around Rs 37 crore.
Investigators are now working to trace the absconding India-based kingpin and the alleged mastermind operating from the United Arab Emirates. A Look Out Circular (LOC) has been issued in connection with the case.