New Delhi: The Union Ministry of Home Affairs (MHA)’s Indian Cyber Crime Coordination Centre (I4C) has released a warning about fraudulent payment gateways that use mule accounts. Transnational organized cybercriminals who provide money laundering as a service typically create and manage these accounts.
According to MHA, recent nationwide raids by the Andhra Pradesh and Gujarat police departments have shown that these transnational criminals have used rented or mule bank accounts to build illicit digital payment channels. This illicit infrastructure uses laundering proceeds of various cyber crimes and facilitates money laundering as a service. Social media is used to scout current and saving accounts of businesses or people, according to data obtained from State Police Agencies and an analysis by I4C. Subsequently, an illegal payment gateway is created using the mule accounts which are given to criminal groups for accepting deposits on illegal platforms like fake investment scam sites, offshore betting and gambling websites, fake stock trading platforms, etc.
Therefore, the I4C has cautioned citizens against renting or selling their Udhyam Aadhaar registration certificate, company registration certificate, or bank accounts to third parties. Depositing illegal money into these bank accounts may result in arrest and other legal repercussions. Additionally, it encouraged residents to report any cybercrime right away by visiting www.cybercrime.gov.in or calling the helpline at 1930.
