Kochi quickly appears as a center for marginal accounts used by criminals to wash the proceeds of online fraud, the police warn, although cyber crimes focused on vulnerable groups are increasing.
Computer crime investigators have recently found around 2,000 such bank accounts in and around the city, the policeman said. In particular, most accounts were opened at the branches of a particular bank, the official added.
The official quoted the alleged forfeiture of the Know-Your-Customer (KYC) standard to verify the identity of the account holders as the main reason for the increase in such incidents. “It is understood that banks sometimes allow some relaxation to promote businesses. Cyber criminals abuse these relaxation and open mule accounts, often in a secret agreement with people involved in minor crimes.
The Mule accounts again came under the focus of investigators after a recent arrest by a native of Kollam in connection with cyber fraud, in which the urban pharmaceutical entrepreneur reportedly lost almost 25 crore. The woman was arrested after the police reportedly found that around 4 ₹ Lakh involved in the fraud in cyber shares trading was transacted through an account open in her name.
The official said that previously fraudsters focused on students by paying them to open bank accounts in their names. “Such cases have dropped to awareness after police interventions and campaigns,” he added.
The head of the district police (Kochi) Putt vimaladitya did not specify the number of accounts open in the city, but acknowledged that the police had information that was “many”. “It is investigating who makes it easier to open these accounts,” he said.
Meanwhile, the police have launched a number of meetings with banks’ officials in their efforts to devise joint measures to deal with cyber fraud in the middle of Mule accounts. “The police will discuss with the bank officials that it is necessary to warn more about transactions and strictly monitor suspicious accounts, ATM and control withdrawals, as well as large transfers of money by apparent virtual arrest frauds,” the police recently.
On Saturday there was a meeting with officials of the bank from urban and rural areas Kochi and rural areas.
Published – 29 September 2025 01:09 IS
