New Delhi: What started as the investigation of a ₹10,000 online job scam has led Delhi Police to uncover a sprawling cyber fraud syndicate that allegedly routed more than ₹70 crore through hundreds of mule bank accounts linked to cyber criminals operating across India, Dubai, and the United Kingdom.
According to Deputy Commissioner of Police (Central) Rohit Rajbir Singh, the Central District Cyber Police has arrested six members of the syndicate, including a manager of Suryoday Small Finance Bank. Four officials and associates of IndusInd Bank have also been apprehended and bound down for allegedly facilitating the opening of fraudulent bank accounts by bypassing Know Your Customer (KYC) norms in exchange for cash bribes and other incentives.
Police said the racket had been operating for nearly four years, supplying ready-to-use corporate current accounts complete with debit cards, cheque books, internet banking credentials, registered SIM cards, and fake company stamps to cyber fraudsters in India and overseas.
The investigation began after a resident of Patel Nagar was cheated of ₹10,000 after being lured by a work-from-home offer on social media. The victim was persuaded to transfer money as registration and processing fees before the fraudsters blocked all communication.
Following the complaint, the Cyber Police registered an FIR under the relevant provisions of the Bharatiya Nyaya Sanhita (BNS). Investigators traced ₹5,000 of the defrauded amount through multiple transactions to an Axis Bank current account opened in the name of a shell company, Damion Traders.
The company’s registered address was found to be fictitious, prompting investigators to analyse digital records, financial transactions, and linked email accounts. The probe led to the arrest of alleged recruiter Mohit Soni on July 8. Police said his interrogation and the digital evidence recovered from him exposed an organised network engaged in creating and supplying mule bank accounts to cybercrime syndicates.
According to the DCP, recruiters targeted financially vulnerable individuals, collected their identity documents, and used them to create fake proprietorships and shell firms. With the alleged help of bank insiders, current accounts were opened in the names of these entities. The accounts were then converted into complete “bank kits” comprising debit cards, cheque books, internet banking credentials, SIM cards, and fake company stamps before being sold to cyber criminals.
Police alleged that the operation was coordinated by Dishant Khanna, who maintained close links with bank officials to facilitate the opening of accounts. Investigators claimed that Suryoday Small Finance Bank manager Kundan Kumar accepted ₹75,000 in illegal gratification, including ₹55,000 that was allegedly transferred directly to his personal account.
Officials and associates linked to an IndusInd Bank branch in Dwarka allegedly facilitated the opening of multiple accounts in exchange for cash kickbacks and insurance-related benefits. WhatsApp conversations, cash deposit receipts, and other digital evidence allegedly established their involvement, leading to their apprehension.
A raid at a rented premises in Shalimar Bagh, described by investigators as the syndicate’s operational hub, yielded a massive haul. Police recovered 248 complete bank account kits, 38 registered SIM cards, 22 mobile phones, 28 fake company rubber stamps, 55 debit and credit cards from different banks, ₹1 lakh in cash, and a Maruti Brezza SUV.
“The recovered bank kits were fully activated and ready to be supplied to cyber fraudsters for laundering the proceeds of online financial crimes,” the DCP said.
Financial analysis has revealed that more than ₹70 crore was routed through the 248 recovered accounts. The accounts have been linked to 156 complaints registered on the National Cyber Crime Reporting Portal (NCRP) across 19 states and Union Territories, involving more than ₹20 crore in alleged fraud. Police have frozen transactions worth ₹56 lakh, while the total disputed amount under investigation stands at nearly ₹37 crore.
Those arrested include alleged mastermind Dishant Khanna, recruiters Mohit Soni and Yogesh Kumar, shell company operator Ranjeet Damion Ekka, infrastructure handler Mridul, and Suryoday Small Finance Bank manager Kundan Kumar.
The four individuals apprehended and bound down include an IndusInd Bank branch manager, deputy branch manager, bank teller, and an insurance agent associated with the bank. All are accused of facilitating fraudulent account openings and financial transactions.
The investigation has also uncovered international links, with activated corporate bank accounts allegedly being supplied to cybercrime syndicates operating from Dubai and the United Kingdom. Police said the India-based absconding kingpin and the alleged UAE-based mastermind are yet to be traced, and Look Out Circulars (LOCs) have been issued against them.
Delhi Police has advised citizens never to share identity documents, bank account details, cheque books, debit cards, internet banking credentials, or SIM cards with strangers. It also warned that opening bank accounts for shell companies or allowing personal bank accounts to be used by others could attract criminal liability.
The DCP said banks must strictly enforce KYC norms and strengthen internal audit mechanisms, warning that any official found colluding with cyber criminals would face criminal prosecution. He urged victims of cyber financial fraud to report incidents immediately through the national cyber helpline 1930 or the National Cyber Crime Reporting Portal.
(Cover Image: AI Generated)
Bharatiya Nyaya SanhitaCyber Crimecyber securityDelhi Crime BranchDelhi PoliceDubaiIndiaJob ScamKYCNational Cyber Crime Reporting PortalSpecial Cell Delhi PoliceUK