Cyber Fraud Network: three arrested, 507 bank accounts linked to accused frozen
Cyber police have arrested three individuals and frozen 507 bank accounts linked to a sophisticated online trading fraud network. The accused allegedly procured bank credentials from individuals to facilitate the laundering of proceeds from cybercrimes.
Why it matters
This highlights the growing threat of organized cybercrime networks that use 'money mules' to bypass banking security measures.
Investigating an online trading and investment fraud involving ₹93.58 lakh, sleuths from the Cyber Command have arrested three persons and uncovered a network allegedly involving the procurement and supply of 507 bank accounts to cyber fraudsters. These accounts have now been frozen.
A case was registered on April 29, 2026, after complainant Harish Kumar K. N. was allegedly induced to transfer ₹93,58,555 to various bank accounts and was cheated.
The prime accused, Amit Mishra, was arrested on September 8. During his interrogation, the alleged involvement of Tausif Ahmed and Parashuram Sadanand Kannanavar alias Pavan Kumar came to light. Both were arrested.
During interrogation, police recorded the voluntary statements of all three accused and, after obtaining court permission, examined their seized mobile phones. Investigators recovered WhatsApp and Telegram chats, bank account details and other digital evidence.
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