Two college students arrested for assisting cyber criminals in bank fraud scheme
The suspects, originally from Malegaon, were found to be facilitating cybercriminals operating out of Dubai, UAE, and China
Mumbai: Two college students have been arrested by the Mumbai Cyber Police for their involvement in a bank fraud operation. The suspects, identified as Himanshu More, 21, and Prem Shewale, 18, residents of Nashik but originally from Malegaon, were found to be facilitating cybercriminals operating out of Dubai, UAE, and China.
According to police authorities, More, a Bachelor of Science (BSc) student majoring in Statistics, and Shewale, pursuing his graduation, allegedly set up a network comprising waiters, catering staff, and delivery personnel. These individuals were incentivized to open bank accounts, with compensation ranging from ₹5,000 to ₹10,000 per account.
Subsequently, the details of these accounts were provided to cyber fraudsters, who utilised them to perpetrate fraudulent activities, enticing victims to transfer funds into these accounts. The illicitly obtained money was then transferred overseas to the accused parties via various Over-The-Counter Trading (OTC) platforms. Police officials said that they have confiscated 29 debit cards, 28 bank account passbooks, eight SIM cards, and eight mobile phones from the suspects.
“While investigating the case, we learned that several bank accounts used in the crime, wherein the victim transferred ₹14.23 lakh, were from Malegaon in Nashik district. Accordingly, we questioned the account holders and discovered they were all lower-level employees of hotels or catering companies. During questioning, they informed us that two youths had asked them to open accounts and had taken account details and documents like passbooks or debit cards from them. They were paid between ₹5000 to ₹10000 per bank account,” said Nandkumar Gopale, senior police inspector of the South Cyber Police station.
Acting on intelligence, a team led by joint commissioner of police Laxmi Gautam and deputy commissioner of police Datta Nalawade apprehended More and Shewale in Malegaon. Further investigation revealed their communication with overseas-based criminals via Telegram, implicating individuals operating call centres in Dubai with connections to Chinese syndicates.
“The suspects are believed to have facilitated the transfer of funds through multiple bank accounts, enabling the conversion of currency via OTC platforms. They led lavish lifestyles, squandering the ill-gotten gains on luxuries,” added the police official.
One of the accused’s parents, both educators, were unaware of their son’s criminal involvement, thinking he was focused on his studies in Nashik and pursuing legitimate activities.
Authorities suspect that the duo provided over 60 bank accounts to overseas criminals, contributing significantly to the fraudulent operation.