Operation Matrix 2.0 in Indore: Cyber Fraud Through Mule Accounts, 11 Arrested

Cyber Fraud Ring Busted in Indore's 'Operation Matrix 2.0'

Continuing its efforts to curb cybercrimes, the Madhya Pradesh Police has conducted a major operation in Indore under 'Operation Matrix 2.0'. Police in Indore's Vijay Nagar police station have registered a case against 11 members of a gang allegedly involved in cyber fraud using mule bank accounts.

Initial investigations have revealed suspicious transactions totaling approximately ₹1 crore across 6 such bank accounts. This action was taken under the guidance of Dr. Santosh Kumar Singh, Commissioner of Police, Indore, with the aim of curbing fraud committed through the misuse of digital platforms.

Investigation Focuses on Mule Bank Accounts

The police investigation in this cyber fraud case is concentrating on the mule bank accounts, which criminals use to deposit and further transfer fraudulently obtained funds. The police received specific information regarding mule bank accounts on October 26, 2026. Based on this information, preliminary inquiries and investigations indicated that the accused contacted customers via phone to receive funds.

These amounts were deposited directly into company accounts or into the mule bank accounts provided by the accused. A portion of the received funds was also distributed to employees. The police are currently verifying all these facts and related bank transactions.

Cyber Fraud Gang Exposed, Transactions Worth Millions Seized

During this police operation, several crucial electronic devices and other documents were seized, including 20 SIM cards, 17 mobile phones, one laptop, three CPUs, and one hard disk, all used in the commission of the crime. Transactions amounting to approximately ₹1 crore, suspected to be the proceeds of fraud, were identified across the 6 bank accounts revealed in the preliminary investigation.

The police are now conducting a thorough investigation into the actual account holders of these bank accounts, their modus operandi, the source of the funds, and their role in further transfers. The exact amount of fraud and the true number of affected individuals will be determined only after a detailed analysis of bank records and other evidence.

This case highlights the methods employed by cybercriminals to carry out financial fraud. Mule bank accounts are often used to conceal their identities and quickly convert or disappear with the defrauded money by transferring it to different accounts or converting it into cryptocurrency. This operation under 'Operation Matrix 2.0' demonstrates the police's commitment to cracking down on such criminal syndicates.

Police Appeal to the Public: Exercise Caution

The Madhya Pradesh Police has appealed to the general public to be extremely vigilant about the security of their financial information. The police clarified that no individual should provide their bank account, ATM card, SIM card, checkbook, internet banking details, or OTP to anyone for a commission or rent. This is a serious offense and can lead to inadvertently aiding cybercriminals.

Furthermore, if any amount is deposited into your account from an unknown source, do not transfer it to any other account without verification. Such funds are often part of a scam, and by facilitating their transfer, you could also face legal action. The police urged citizens to immediately inform their nearest police station or cyber cell if they suspect misuse of their bank account or receive information about any suspicious cyber activity. Timely information can play a crucial role in preventing such crimes and apprehending the culprits.