Explainer: How do cybercriminals use mule accounts to launder money obtained through fraud?

With 91 suspected accounts allegedly involved in large-scale online fraud across different banks in the state, the Haryana Cyber Crime Police have intensified investigations into cyber fraud cases registered at various police stations in Haryana. Out of these accounts, 12 mule accounts were traced to Kotak Mahindra Bank’s Sector-12 branch in Karnal. One of the accounts, opened in the name of a fruit and vegetable trading business, recorded suspicious transactions worth more than Rs 5.7 crore within just six months. At least 14 complaints linked to this account were registered on the National Cyber Crime Portal (NCRP). The police suspect such accounts are used to transfer money.