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Fake Trading Scams Now Drive 70% of Cyber Losses as Mule Accounts Surge in Maharashtra, UP, Rajasthan

CBI data counting nearly 8.5 lakh mule accounts in 2025 has triggered a rapid, centralized response.

Overview

  • MHA/I4C identifies Maharashtra, Uttar Pradesh and Rajasthan as leading mule‑account hubs, with Haryana, Delhi, Dadra and Nagar Haveli and Daman and Diu, Karnataka, Madhya Pradesh, Bihar and Tamil Nadu also on the list.
  • I4C reports a shift from so‑called digital arrest schemes to fake trading apps and websites as the dominant fraud vector responsible for most losses.
  • A multi‑agency Cyber Fraud Mitigation Centre now brings police from 16 states and UTs together with banks, wallets, telecom firms and e‑commerce platforms to freeze funds within the golden hour.
  • District probes underscore the scale: Jamtara logged over 350 mule accounts with about Rs 7 crore withdrawn, while Nuh recorded more than 1,000 accounts and Rs 18 crore in withdrawals in 2025.
  • Investigators note operations relocating to Cambodia, Vietnam and Myanmar even as Indian mule accounts move the money, with banks tightening due diligence and stepping up customer‑awareness efforts.