Cyberfraud Gangs Target Job-Seeking Youths, Turn Bank Accounts into Money Mule Channels

Cybercrime networks are increasingly targeting young jobseekers, luring them with offers of high-return online trading and part-time work, only to gain access to their bank accounts and convert them into mule accounts for illegal transactions.

According to city police officials, the scammers first approach victims via social media with promises of quick profits. Once convinced, the victims are persuaded to share bank credentials and phone numbers, enabling fraudsters to take full control of their accounts. Students and youths with low transaction activity are among the most common targets.

The surge comes despite ongoing crackdowns against individuals who willingly sell or hand over their bank accounts for commission. Over the past month alone, more than 50 people have been arrested in the district for providing accounts to cybercriminals, though authorities believe the actual number is much higher.

Cyber Suraksha Foundation co-founder and lawyer Feroze Desikan noted that nearly 80% of mule account recruitment still occurs through acquaintances rather than strangers online. Citing a recent case, he said a college student from Ernakulam was offered ₹25,000 per account to arrange five accounts, believing they were required for foreign remittances. The accounts later moved further up the network, with larger sums exchanged at higher levels.

Once an account is compromised or sold, large deposits—often running into lakhs or crores—can be routed through it within hours. Investigators are now tracing financial trails to recover blocked funds and return them to victims.

"Awareness campaigns are ongoing, but people continue to fall for easy-money traps," said Ernakulam Range DIG Satheesh Bino, stressing the need for caution while sharing personal banking details online.

Officials also revealed that many mules are asked to withdraw and hand over funds in cash, making them legally liable in the crime. With inter-state police involvement, suspects often face strict legal action, remand, and lengthy court procedures, prompting some to seek costly out-of-court settlements.

In certain cases, banks are freezing accounts on suspicion even before formal complaints are registered. Victims who realise their mistake early can appeal in court to unfreeze accounts if they can justify the transactions, Desikan added.

Authorities urge the public, especially students, to recognise that offers promising easy money or high returns are often fronts for cybercrime, and to report suspicious online job schemes immediately.