An engineering student in Bengaluru has been arrested for allegedly selling his friend’s bank account to cyber fraudsters, who routed nearly ₹7 crore through it. The North Division Cyber Crime Police are investigating links to wider scam.
A major cyber fraud case in Silicon City has come to light, sending shockwaves through the student community. The North Division Cyber Crime Police have arrested a student from a private engineering college for allegedly facilitating a large-scale financial scam. The accused is said to have sold his friend’s bank account details to cyber criminals, who then used the account to illegally transfer nearly ₹7 crore.
Police have identified the accused as E. Ayush, a native of Hosapete in Vijayanagara district. The victim is also a student at a reputed private engineering college near Bagalagunte. The fraud came to light after unusually large transactions amounting to crores of rupees were detected in the victim’s bank account overnight.
Bank Inquiry Uncovers the Fraud
Bank officials flagged the unusually high volume of transactions and called the account holder for clarification. During the inquiry, it became evident that the account had been misused. The student was reportedly shocked to learn that transactions worth nearly ₹7 crore had been routed through his account.
Related Articles
An internal review by the bank indicated that the funds were linked to cyber fraud activities. The victim subsequently filed a complaint with the Cyber Crime Police Station. Acting swiftly on the complaint, police launched an investigation and arrested Ayush, officials said.
How the Fraud Was Carried Out?
According to investigators, Ayush met the victim about a year ago at their engineering college, and the two became friends over time. Police said the accused exploited this friendship.
He allegedly told the victim that his own bank account had been frozen due to insufficient funds and requested permission to use his friend’s account temporarily for a few transactions.
Trusting him, the victim handed over his Karnataka Bank passbook, ATM card and online banking credentials in November last year. He also gave him the Airtel SIM card linked to the bank account. Police said the accused misused these details and passed them on to cyber fraudsters.
Account Allegedly Sold Via Telegram Network
The investigation has revealed that the accused allegedly sold his friend’s bank account to a network of cyber criminals operating through the Telegram app. These fraudsters reportedly circulate advertisements on social media platforms seeking “bank accounts for rent” to carry out illegal transactions.
Lured by the promise of easy money, Ayush is said to have provided the account details to the network in exchange for a commission. Police are currently verifying the amount he received and examining whether the account is linked to other cyber fraud cases.
Police Issue Public Warning
Officials have described the case as a serious warning to the public, particularly students. Police have urged people never to share their bank account details, ATM cards, OTPs or SIM cards with anyone, including friends or relatives, as such actions can lead to serious legal consequences.
The investigation is ongoing.
