Chennai, Dec 22 (NationPress) The discussion surrounding mule accounts exploited in cyber frauds and strategies to mitigate them was the primary focus at a coordination meeting involving CBI, officials from the Department of Financial Services (DFS), and Chief Vigilance Officers of Public Sector Banks (PSBs) held here on Monday.

During this extensive meeting, various unresolved issues pertaining to ongoing Bank Fraud Investigations and Prosecutions managed by the CBI were thoroughly examined, according to a statement.

The conference aimed to improve inter-departmental collaboration and hasten investigations related to bank fraud cases.

Presentations on pertinent operational matters were delivered by senior officers from the CBI and PSBs.

Experts exchanged specific case details and discussed ways to accelerate pending investigations.

They also deliberated on measures to streamline processes and ensure proactive cooperation in securing approvals and prosecution sanctions under the Prevention of Corruption Act, as stated.

A CBI representative mentioned that numerous outstanding matters between the investigative agency and Public Sector Banks regarding ongoing inquiries were resolved during the meeting.

Significant emphasis was placed on maintaining structured engagement and institutional coordination to hasten investigations, address outstanding issues, and ensure the timely completion of inquiries.

It was agreed to sustain momentum and bolster institutional collaboration to navigate procedural challenges, as per the statement.

A mule account refers to a bank or financial account utilized by criminals to launder illegally acquired funds, complicating traceability. Typically, the account holder, known as a money mule, is either unaware of the misuse of their account or is deceived into participating through fictitious job offers or scams.

Earlier this month, the CBI filed a charge sheet against 13 individuals in a significant “digital arrest” cyber fraud case, as part of its focused, case-by-case crackdown under Operation Chakra-V targeting organized transnational cybercrimes.

The agency registered the case suo motu to investigate ten major incidents of Digital Arrest scams reported nationwide, coinciding with a sharp rise in such offenses.

In October 2025, the CBI executed coordinated searches across locations including Delhi-NCR, Haryana, Rajasthan, Gujarat, Kerala, and West Bengal.

“These searches resulted in the recovery of incriminating evidence, including electronic devices, communication logs, financial records, and other digital data,” the CBI stated in its press release.

Based on the recovered evidence, three suspects were apprehended, all currently in judicial custody.

The central agency emphasized that during the investigation, it analyzed over 15,000 IP addresses connected to the scam networks.

“The technical analysis unveiled extensive cross-border links, demonstrating that numerous key bank accounts used for collecting and redirecting victim funds were managed by masterminds located in Cambodia, Hong Kong, and China,” it reported.