Hyderabad CP Sajjanar warns banks on mule accounts
HYDERABAD: V.C. Sajjanar on Thursday warned banks of strict action if “mule accounts” are found, urging them to prioritise customer safety over account-opening targets.
Banks urged to shift focus to customer safety
Addressing a coordination meeting with bank officials at the Telangana Integrated Command and Control Centre (TGICCC) in Banjara Hills, Sajjanar said banks must ensure that not even a single customer falls victim to cybercrime. “Customer safety must be the primary goal,” he said.
The meeting was attended by Reserve Bank of India regional director Chinmay Kumar, additional commissioner M. Srinivasulu, and 75 senior officials from 45 public and private banks.
Zero mule accounts target for all branches
Sajjanar asked banks to adopt the “Safe Customer Challenge” to curb mule accounts that aid cybercriminals. He said each branch should aim for “zero mule accounts”.
He directed banks to assess branch performance based on complaints registered on the National Cyber Crime Reporting Portal (NCRP) and ensure no cybercrime victims are linked to their branches.
Action against officials violating KYC norms
Sajjanar said bank managements should treat customer safety, not account numbers, as key performance indicators. He revealed that under Operation Octopus 2.0, police detected fraud worth ₹150 crore in 850 cases and arrested 32 bank officials for facilitating mule accounts.
He said international cybercrime syndicates operating from Cambodia, Vietnam and Dubai were colluding with local bank staff. He warned of strict action against employees violating Know Your Customer (KYC) norms, including blacklisting them from the banking sector.
“Strict legal action is inevitable if mule accounts are found in banks,” he said.
Banks asked to monitor suspicious withdrawals
Sajjanar also urged banks to be cautious when customers seek premature closure of fixed deposits. He said officials must check if withdrawals are being made under pressure from cybercriminals and intervene where necessary.
He advised banks to use advanced tools such as “Mule Hunter” to identify suspicious accounts and to spread awareness about the 1930 cybercrime helpline.
He added that Operation Octopus will continue until cybercrime networks are dismantled and called for close coordination between banks and police.
Cyber Crimes DCP Aravind Babu and ACP Shiva Maruthi also attended the meeting.
