Hyderabad Police Warn Public Against Renting Out Bank Accounts for Commission
Hyderabad City Police have urged the public not to rent or lend their bank accounts to others in exchange for easy commissions, warning that such arrangements could make account holders part of cybercrime networks.
Hyderabad: Hyderabad City Police have urged the public not to rent or lend their bank accounts to others in exchange for easy commissions, warning that such arrangements could make account holders part of cybercrime networks.
In a cyber safety awareness campaign, police highlighted how fraudsters use so-called mule accounts to receive and transfer money stolen from victims. The funds are routed through multiple bank accounts before reaching the criminals, making it difficult for investigators to trace the money trail.
Police cautioned that people who allow others to use their bank accounts for suspicious transactions may face serious consequences, including account freezing, police investigations and legal action, even if they claim to be unaware of the fraudulent activity.
The awareness message advised citizens never to share their ATM cards, PINs, one-time passwords (OTPs) or online banking credentials with anyone. People were also urged to reject offers promising easy money for receiving and forwarding funds on behalf of strangers.
If suspicious money is credited to an account, account holders should immediately inform their bank and avoid transferring the funds as instructed by unknown persons.
Hyderabad City Police urged victims of financial cyber fraud to report incidents immediately by calling the national cybercrime helpline 1930 or visiting cybercrime.gov.in. Authorities stressed that public awareness and responsible banking practices are essential to prevent financial cybercrime.
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