India, Nov. 13 -- The Central Bureau of Investigation (CBI) has arrested a branch manager of Axis Bank in Mumbai for allegedly accepting bribes to facilitate the opening of mule accounts used by cybercriminals to launder proceeds of large-scale digital frauds.

The accused, identified as Nitesh Rai, was arrested on Tuesday after investigators found that he had allegedly abused his official position to process account-opening forms for individuals linked to organised cybercrime networks. These accounts, officials said, were later used to move and disguise funds extorted through online scams, including the notorious 'digital arrest' frauds.

Under this scam, frauds impersonate law enforcement or government officials, convince victims they a...