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Bank Account Rental Scam: Three individuals were arrested in Patna for providing bank accounts to facilitate cyber fraud. Police discovered transactions worth ₹25 crore linked to these accounts.

Cyber ​​Fraud News: If you ever allow someone else to use your bank account in exchange for money, this news is crucial for you. A shocking case of cyber fraud has recently come to light in Patna, the capital of Bihar, where police arrested three individuals for allegedly renting out their bank accounts for fraudulent activities. According to the police, transactions totaling approximately ₹25 crore were routed through these accounts.

What is the full story?

The police revealed that the accused used to charge between ₹3,000 and ₹5,000 for every transaction processed through their bank accounts. These accounts were being used to receive proceeds from online scams targeting people in other states and to subsequently transfer the funds elsewhere. Authorities are currently trying to identify the larger cyber network operating behind this scheme and determine how many individuals are involved.

Earning money by renting out bank accounts

The accused have been identified as Prabhakar, Amit, and Deepak. Police state that, driven by greed, they provided their accounts to cybercriminals to earn a commission for receiving and forwarding the proceeds of fraud. Two of the accused work as bike-taxi drivers for Rapido, while the third is also alleged to be involved in supplying bank accounts to the cyber fraud network.

What is the total value of the transactions uncovered?

Police investigations revealed that transactions amounting to approximately ₹25 crore were conducted through the bank accounts of the accused. In this context, the police suspect that these accounts were primarily being used to transfer funds obtained through online fraud across various states.

The police state that victims residing in different parts of the country have lodged complaints against the accused on the National Cyber ​​Crime Reporting Portal (NCRP).

Exercise caution before letting anyone use your bank account

Never allow another person to use your bank account.
Do not share your ATM card, chequebook, UPI PIN, or internet banking details with anyone.
If funds from an unknown person are credited to your bank account, do not transfer them further.
Inform your bank immediately if you become aware of any suspicious transaction.