Cybercriminals using mule accounts to set up illegal payment gateways for money laundering: MHA

The Union Home Ministry has issued an alert against illegal payment gateways created by transnational gangs of cybercriminals using mule bank accounts and are being used for facilitating money laundering, officials said on Monday.

The gateways are created by transnational cybercriminals who provide money laundering services using accounts of shell companies and individuals, exploiting the bulk payout facility provided by banks, it said.