CBI arrests AXIS Bank manager in Mumbai over accounts to hide money stolen from cyber crimes

New Delhi, Nov 12 (PTI) The CBI has arrested a bank manager of Axis Bank in Mumbai for his alleged involvement in the creation of mule accounts used for camouflaging money stolen in cyber crimes, officials said Wednesday.

Nitesh Rai, the accused manager, allegedly, in collusion with cybercriminals, accepted illegal gratification to process account opening forms and create channels for the movement and layering of cyber crime proceeds.

"These accounts were actively used in multiple cybercrimes, including cases of digital arrest fraud. A case for offences under the Prevention of Corruption Act and BNS was registered against him," a CBI spokesperson said in a statement.

The accused was arrested on Tuesday and produced before the competent court in Mumbai, which remanded him to the CBI's custody for further interrogation, she said.

"Two cybercriminals who paid the illegal gratification to the bank manager have also been named in the FIR as accused for committing offences under the Prevention of Corruption Act relating to the giving of bribes to a public servant," the spokesperson added.

Both cybercriminals had already been arrested by the CBI in connection with the investigations in an ongoing digital arrest cyber crime case.

"Material collected during the investigation indicates a wider pattern of organised cybercrime networks exploiting the banking systems by opening mule accounts to layer the proceeds of cyber fraud amounts stolen from innocent citizens," she said. PTI ABS MPL MPL