In a major crackdown on cybercrime and digital arrest scams, the Central Bureau of Investigation (CBI) has launched ‘Operation Chakra-V’ across five Indian states, targeting a widespread network involved in creating fake bank accounts used in cyber frauds.
What is Operation Chakra-V?
Operation Chakra-V is the fifth phase of a nationwide CBI-led mission aimed at dismantling cybercrime ecosystems. It mainly focuses on those linked to digital payment frauds, fake accounts, and financial scams. Launched earlier this year, work on identifying and shutting down mule bank accounts—accounts opened fraudulently and used to launder money from online crimes.
🛑 Key Highlights of the Crackdown:
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42 locations raided in Delhi, Rajasthan, Haryana, Uttarakhand, and Uttar Pradesh
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9 people arrested, including middlemen, bank agents, account holders, and correspondents
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Over 8.5 lakh mule accounts opened through 700+ bank branches across India
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Accounts were created without proper KYC, risk assessment, or physical verification
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Seized: Mobile phones, forged KYC documents, bank transaction details, and digital evidence
According to the CBI, the scam involved the fraudulent opening of lakhs of bank accounts in violation of the RBI’s KYC norms and banks’ internal protocols. Many of these accounts were used to route money obtained from cyber frauds, fake investment schemes, and digital extortion operations.
“These cyber fraudsters are being helped by the commissions and omissions of certain bank officials, agents, aggregators, bank correspondents, middlemen and e-Mitras who are facilitating in opening of the mule accounts used for receiving and transferring proceeds of cyber frauds as well as enabling withdrawals from such accounts,” the agency said in an official statement on Thursday.
A CBI official stated that several banks failed to issue verification letters or address confirmations, allowing fraudulent operators to bypass the system. These lapses violated both the RBI’s Master Circular and standard due diligence guidelines.
Following detailed enquiries, the CBI registered an FIR under the IPC, Bharatiya Nyaya Sanhita (BNS), and the Prevention of Corruption Act, charging those involved with criminal conspiracy, cheating, forgery, and misuse of public office.
The arrested individuals are being produced before the court, and the investigation is still underway.
