Bhopal Police Uncover Major Cyber Fraud Syndicate

Authorities in Bhopal's Kolar area have dismantled a sophisticated cyber fraud operation, arresting key individuals involved in selling bank accounts to cybercriminals. The operation was led by Rahul Srivastava, a seventh-grade dropout, who, along with his live-in partner, orchestrated the sale of over 200 bank accounts to facilitate fraudulent activities.

The investigation began when vigilant bank staff noticed irregularities in account activities, prompting them to alert the police. Subsequent raids led to the seizure of 34 credit cards, 24 cheque books, 77 SIM cards, and documents linked to 200 bank accounts. These accounts were sold to cyber fraudsters, enabling them to conduct illicit transactions while concealing their identities.

Srivastava's modus operandi involved recruiting individuals in financial distress, convincing them to open bank accounts, and then purchasing these accounts for a nominal fee. These accounts were then sold to cybercriminals at a premium, providing them with untraceable channels for money laundering and other fraudulent activities.

The police have also identified several accomplices who assisted in procuring SIM cards and facilitating communications between the account holders and fraudsters. Investigations are ongoing to trace the financial trails and identify the beneficiaries of these fraudulent schemes.

This bust highlights the growing trend of cybercriminals outsourcing essential resources to execute frauds, making detection and enforcement increasingly challenging. Authorities are urging the public to remain vigilant and report any suspicious activities related to bank accounts or financial transactions.