Explainer: Understanding mule account fraud and how to avoid it
Mule account fraud is on the rise in India, with scammers using stolen or fake identities to open bank accounts and move stolen money around.
Venkat Srinivasan from Bureau.id points out that India's huge number of digital transactions and many people without regular bank access make it easier for criminals to recruit unsuspecting "mules."
Most victims don't even realize their accounts are being used for illegal transfers.
How to protect yourself from scams
Criminals set up mule accounts using phishing or identity theft, then spread out lots of small transactions so banks don't spot anything suspicious.
To protect yourself, never share your bank details or let anyone "rent" your account—no matter how tempting the offer sounds.
Keep an eye on your account activity, and know that banks and the RBI are stepping up checks and public awareness campaigns to fight this growing threat.