Srinagar, April 7 -- In a major revelation, the Jammu and Kashmir cyber police has unearthed the formation of 7,200 mule bank accounts in Kashmir this year so far involved in cyber frauds to launder crores of money via fake investment sites and betting scams and arrested 21 people so far.

The police said that the mule accounts rented via telegram or facebook, controlled from abroad and active for a few days, are used to funnel money via crypto and layering.

Srinagar senior superintendent of police (SSP) Imtiyaz Hussain said that they unearthed the network during their recent investigations.

"Recently Srinagar police have unearthed a big network of cyber frauds. What we have seen is a large-scale opening of mule accounts. Within a very ...