India, Aug. 23 -- The police recently busted a racket that allegedly provided bank accounts to cyber-fraud gangs operating from foreign countries, like Cambodia, Thailand, China and Malaysia, and have arrested five individuals. They opened 943 bank accounts using slum dwellers' identities and lent them to the frauds to park their illegal gains and charged a commission, said a police officer.

The police have identified the accused as Vaibhav Patil, Sunil Kumar Paswan, Aman Kumar Gautam, Khushboo Sandarjula and Ritesh Bandekar.

Acting on a tip-off, the police raided two companies in two companies in Kandivali East, DJ Search Consultancy and Pririt Logistics Private Limited, on August 13 and arrested the five accused after recovering two l...