TaxTMI 
TaxTMI 
CBI holds meet with financial services department, public sector banks on mule accounts, bank fraud
X X X X Extracts X X X X
X X X X Extracts X X X X
....BI holds meet with financial services department, public sector banks on mule accounts, bank fraud<BR>PTI News<BR>Dated:- 22-12-2025<BR>PTI<BR>New Delhi, Dec 22 (PTI) The CBI held a meeting with the officers of the Finance Ministry and Public Sector banks on Monday to discuss strategies to tighten the noose around mule accounts, being used by cybercriminals to launder proceeds of scams, and other ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....issues like bank fraud investigations, officials said. The coordination meeting in Chennai was attended by senior officers of Bank Security and Fraud Cell of the CBI, chief vigilance officers of public sector banks and officers from the Department of Financial Services under the Finance Ministry. The meeting discussed "all pending matters" about ongoing bank fraud investigations and prosecutions....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... being handled by the CBI, as well as steps to enhance inter-departmental cooperation and expedite investigations into such cases. "Further efforts to streamline procedures and ensure proactive cooperation in matters related to obtaining previous approvals and prosecution sanctions under the Prevention of Corruption Act were undertaken," a CBI spokesperson said in a statement. The CBI and bank o....
X X X X Extracts X X X X
X X X X Extracts X X X X
....fficers exchanged case-specific information on bank fraud cases, as well as ongoing developments and issues behind pending cases. "Issues related to mule accounts being used in cyber frauds and ways to curb them were also discussed," she said in the statement. People lost more than Rs 22,845.73 crore to cybercriminals in 2024, a staggering 206 per cent increase from the previous year. The agenci....
X X X X Extracts X X X X
X X X X Extracts X X X X
....es have identified over 24 lakh layer one mule accounts, according to government data. The CBI had also exposed, in one case, 8.50 lakh mule bank accounts spread across over 700 branches. They were being used by cybercriminals to launder proceeds from scams such as digital theft, impersonation, fraudulent investments, and UPI-based frauds. The mule accounts -- set up using falsified identificati....
X X X X Extracts X X X X
X X X X Extracts X X X X
....on documents -- are primarily used as conduits to siphon off funds from unsuspecting victims. A mule account is opened in the name of an individual who may or may not be aware that the account is used to launder illicit money. The spokesperson said the pending issues between CBI and public sector banks about ongoing investigations have been sorted out during the meeting. "Emphasis was laid on co....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ntinuing structured engagement and institutional coordination to expedite investigations, resolve pending issues, and ensure timely completion of investigations. It was agreed to maintain momentum and reinforce institutional collaboration to overcome procedural bottlenecks," she said. PTI ABS ABS NSD NSD<BR> News - Press release - PIB....