In a major cybercrime incident, fraudsters have siphoned off Rs 40 crore from IndusInd Bank clients, diverting the funds into multiple mule accounts. Prompt action by the Maharashtra Cyber Crime division has led to the recovery of Rs 33 crore, with Rs 7 crore still at risk, as confirmed by Inspector General of Police Yashasvi Yadav on Friday, July 26.
Yadav revealed that the fraud involved transferring the bank funds into what are known as money mule accounts. “Out of the Rs 40 crore stolen, Maharashtra Cyber has successfully frozen Rs 33 crore. This amount has been returned to the legitimate account holders. We are in the process of registering an FIR,” he stated.
The breach was flagged by a vigilant bank employee on July 19, prompting an urgent response from Maharashtra Cyber, the state police unit specializing in cyber fraud. Their swift intervention resulted in the recovery of Rs 31 crore the same evening.
The Reserve Bank of India has recently issued warnings regarding the misuse of mule accounts, reflecting broader efforts by policymakers to curb online financial scams.
IndusInd Bank has yet to comment on the incident.
Follow-up measures by Maharashtra Cyber have ensured the recovery of Rs 32.89 crore, highlighting the importance of vigilance and timely action in combating cybercrime.
