Rajkot: A massive cyber fraud network has been unearthed in Gujarat’s Rajkot district, with suspicious transactions now estimated to exceed Rs 2,500 crore. In a major crackdown under “Operation Mule Hunt,” police have arrested 20 individuals so far, including three officials from private banks, as part of efforts to dismantle organised cybercrime networks operating across India.
VIDEO | Rajkot, Gujarat: Rajkot Rural Police report a major breakthrough under Operation Mule Hunt, uncovering a cyber fraud exceeding Rs 2,500 crore. Police say 20 accused have been arrested so far, including bank employees from Yes Bank, Axis Bank and HDFC Bank who allegedly… pic.twitter.com/j708bvUTtu
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The case, which initially appeared to involve around Rs 1,500 crore, has widened considerably as the probe has progressed. Investigators now believe the money trail is far larger, spanning multiple layers of fraudulent accounts, intermediaries, and transactions across several states.
Bank officials under scanner
Among those arrested are three employees of private banks, who are accused of playing a crucial role in enabling the network. Investigators allege that these officials facilitated the opening and continued operation of suspicious accounts that were later used for cyber fraud activities.
Officials say that even after transaction alerts were triggered, some accounts remained active through the use of additional documentation and procedural manipulation. In certain cases, large sums were allegedly withdrawn as cash and routed through hawala channels, pointing to a more complex money laundering operation.
Police investigations indicate that the network operated with a high degree of coordination and structure. Fraudsters allegedly used fake identities to open bank accounts, which were then deployed to execute large-scale cyber scams such as “digital arrest” frauds, fake loan schemes, and fraudulent investment offers targeting victims across India.
To avoid detection, several accounts were masked using agricultural or business-related documentation, allowing them to appear legitimate within banking systems. The operation is believed to have involved agents working across multiple states, creating a vast and layered fraud network.
85 accounts and 535 complaints linked
Investigators have so far traced 85 bank accounts directly connected to the operation. In addition, 535 complaints have been registered on the national cybercrime reporting portal, underscoring the nationwide reach and impact of the scam.
Victims were reportedly targeted through phishing links, fake calls, and deceptive investment schemes. In many instances, individuals were pressured into transferring money under threats of so-called “digital arrest,” an increasingly common tactic used by cybercriminals.
20 arrests, probe widening
The Rajkot Rural Police have arrested 20 accused, including bank employees, intermediaries, and account handlers. All are currently in custody or under judicial remand.
Officials say the investigation is still unfolding, with more arrests likely as authorities continue to analyse financial trails. Digital forensic teams and cyber experts are working to track the movement of funds and identify additional members involved in the network.
Authorities have stressed that the case is not a localised incident but part of a larger, organised cybercrime ecosystem operating across the country. The findings highlight critical vulnerabilities in banking systems and how financial infrastructure can be misused for illegal activities.
Investigators are now focusing on identifying other bank officials or intermediaries who may have aided the network, whether knowingly or inadvertently.
