Centre freezes 450,000 ‘mule’ bank accounts used in cyber fraud schemes

In a significant crackdown on cybercrime, the Centre has frozen around 450,000 “mule” bank accounts in the past year, according to a report by The Indian Express. These accounts are typically used to launder money obtained from cyber fraud. While such accounts are spread across various banks, a high concentration has been identified in State Bank of India (SBI), Punjab National Bank (PNB), Canara Bank, Kotak Mahindra Bank, and Airtel Payments Bank.