Srinagar, April 07, 2025 – In a significant breakthrough, the Srinagar Police, under the leadership of Senior Superintendent of Police (SSP) Imtiaz Hussain, alongside SP Cyber Iftikhar Talib and DSP Sleet Shah, have dismantled a sprawling cyber fraud operation in Kashmir. The announcement came during a press conference held in Srinagar on April 6, 2025, where authorities revealed the discovery of 7,200 mule bank accounts linked to sophisticated financial crimes, resulting in the arrest of 21 individuals.
The operation, described as one of the largest of its kind in the region, targeted a network of mule accounts used to launder crores of rupees through fake investment schemes, betting scams, and other illicit digital channels. SSP Srinagar Imtiaz Hussain highlighted the scale of the fraud, stating, “This is a big crime, and so far, we have lodged four FIRs and arrested 21 people, 19 of whom are from Srinagar. They are being sent to jail.” He emphasized that the investigation is ongoing, with plans to interrogate all 7,200 individuals linked to these accounts.
Mule Accounts: The Backbone of Cyber Fraud
Mule accounts, often opened by unsuspecting or complicit individuals in exchange for a commission, serve as temporary conduits for transferring and laundering money obtained through cyber fraud. According to the Srinagar Police, these accounts were primarily recruited via social media platforms like Telegram and Facebook, controlled remotely from abroad, and remained active for only a few days to evade detection. Funds were funneled through cryptocurrencies and layered transactions, making them difficult to trace.
SP Cyber Iftikhar Talib explained, “These mule accounts are a critical part of the cybercrime ecosystem, enabling fraudsters to siphon off victims’ money quickly and efficiently.” DSP Sleet Shah added that the investigation uncovered connections between these cyber activities and broader criminal networks, including drug trafficking and terrorism, echoing concerns raised earlier by SSP Hussain about the nexus between narcotics and terror funding in the region.
A Collaborative Effort
The breakthrough was made possible with assistance from the Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs, New Delhi. “The unearthing of these 7,200 accounts owes much to the support from I4C,” SSP Hussain noted, underscoring the importance of inter-agency collaboration in tackling cybercrime.
Authorities have vowed to bring every individual involved to justice. “Since it is a very huge network, it will take some time for the investigation. Every one of these 7,200 people will be picked up and thoroughly interrogated,” Hussain assured.
Stern Warning to Perpetrators
SSP Imtiaz Hussain issued a stern warning to those involved in cyber fraud, stating, “Whosoever has opened mule accounts or received money from cyber fraud will face strict legal consequences. The minimum punishment for cyber fraud is 10 years.” He urged the public to remain vigilant and report suspicious activities to the police.
Rising Cybercrime Threat
The bust comes amid growing concerns over the surge in cyber fraud across Jammu and Kashmir. The 7,200 mule accounts uncovered this year alone highlight the escalating sophistication of cybercriminals, who exploit digital platforms to prey on victims. The arrests mark a critical step in curbing this menace, but officials acknowledge that the battle is far from over.
As the Srinagar Police continue their probe, the case serves as a stark reminder of the pervasive threat posed by cyber fraud and the urgent need for heightened awareness and robust enforcement.