Srinagar:Security agencies have unearthed amassive digital hawala racketinJammu and Kashmirinvolving nearly 8,000 mule bank accounts, in a major counter-terrorism and anti-crime operation. The action follows a sustained and coordinated investigation by Counter Intelligence Kashmir (CIK) and central agencies during which several bank accounts were seized. Authorities have intensified the probe, with thousands more accounts currently under scrutiny, to identify the handlers, the origin of the funds, and their final destination.
How Mule Accounts Are Used For Illegal Transactions
Under this system, mule account holders - commonly referred to as 'mule commissions' - allow their accounts to be used for illegal financial transfers. This layered network enables criminals to move money discreetly while maintaining plausible deniability.
Speaking in this case, Tahir Ashraf, SSP CIK Kashmir, said, "Mule accounts are being used to transfer and transport illegal funds through a multi-layered network, which is a serious concern. The entire system is being exploited by criminal elements. Given the complexity of layering, there is apprehension that these funds could be used for a variety of criminal activities, including terrorism. We are committed to tracing both the origin and the final destination of these funds. Thousands of accounts are under the scanner, and suspects are being questioned."
Since 2017, and particularly after 2019, central agencies - working in close coordination with the Jammu and Kashmir Police -- have taken a series of decisive measures to choke the financial channels of anti-India groups and terror outfits operating in Kashmir.
The latest breakthrough is being seen as a significant step in disrupting illicit funding networks and strengthening financial surveillance in Jammu and Kashmir (J&K).
A muler is typically not the person who contacts victims or sends fake links. Instead, their role is covert but critical -- arranging and maintaining a steady supply of mule accounts that scammers use to receive and transfer stolen money without revealing their own identities.
These mule accounts often belong to ordinary people lured with promises of "easy commission" and assured minimal risk. They are persuaded to hand over full control of their bank accounts, including net banking credentials, under the pretext that the accounts will be used briefly as "parking accounts".
A single scammer is often supplied with 10 to 30 mule accounts at a time, and in many cases, bank accounts are opened in the name of fictitious companies, enabling large transactions of up to Rs 40 lakh in a single day without immediately raising alarms.
Officials said the money trail is deliberately messy, with the scammed money rapidly shifted through several accounts and broken into smaller transactions to avoid detection.
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