Fake trading apps drive 70% of online frauds; Maharashtra, UP, Rajasthan emerge as mule accounts hubs

NEW DELHI: Data compiled by the Indian Cyber Crime Coordination Centre (I4C) under the Union Ministry of Home Affairs (MHA) has revealed a significant shift in the tactics of cybercriminals, with fake trading applications and websites emerging as the primary tools used to defraud unsuspecting investors.

The analysis also showed that Maharashtra, Uttar Pradesh and Rajasthan have become major hubs for mule bank accounts used to siphon off illicit funds.