Malappuram Cyber Fraud: Youth Held for Using Money Mule Account to Withdraw Scam Funds

Malappuram Cyber Crime Police foiled a financial fraud attempt after a banking alert helped stop a suspicious withdrawal. A youth allegedly admitted to renting his bank account to fraudsters as a money mule. Police are investigating the scam and searching for the main accused.

The Malappuram Cyber Crime Police have foiled a major financial fraud attempt after receiving a timely alert from a banking network. The incident came to light when a man attempted to withdraw a large sum of money from a private bank branch in Malappuram twice on the same day, raising suspicion among bank officials. Acting on confidential information, a police team immediately reached the bank and stopped the withdrawal.

Man Confesses To Renting Bank Account To Fraudsters

During questioning, the man failed to provide a satisfactory explanation regarding the source of the money. During a detailed interrogation, he reportedly admitted that he had allowed fraudsters to use his personal bank account in exchange for a commission.

Police said such individuals, commonly known as "money mules", assist cybercriminal networks by receiving and withdrawing illegally obtained funds transferred into their accounts.

Main Accused Escapes From Bank Premises

According to police, the main accused involved in the fraud was waiting outside the bank to collect the withdrawn money. However, after noticing the presence of police officials, he reportedly fled from the spot.

The Cyber Crime Police have intensified their investigation to trace the absconding suspect and identify the source of the funds involved in the suspected fraud.

Police Issue Warning Against Sharing Bank Accounts

The police have issued a warning to the public against allowing strangers to use their bank accounts or withdrawing money on behalf of unknown individuals.

Officials said that renting out personal bank accounts or assisting fraudsters in transferring illegal funds is a serious offence and can lead to strict legal action. They urged people to remain cautious and avoid falling victim to such fraudulent schemes.