Puducherry College Becomes Hub in ₹90 Crore Cyber-Fraud Bust

Puducherry’s cyber-crime unit has uncovered a massive fraud network — reportedly worth around ₹90 crore — that used “mule accounts” sourced from inside an engineering college, according to police. :contentReference[oaicite:0]{index=0}

How the Scam Was Uncovered

The case came to light when two engineering students — whose bank accounts were suddenly frozen — approached authorities. They revealed that their account details had been shared with a fellow student, allegedly named Harish, who collected information from over 20 bank accounts belonging to classmates and other individuals. :contentReference[oaicite:1]{index=1}

Modus Operandi: Mule Accounts and Crypto Laundering

According to investigators:

• The collected accounts were used as “mule accounts” — traps for funds siphoned from victims nationwide. At least ₹7 crore was reportedly routed through these accounts before being withdrawn. :contentReference[oaicite:2]{index=2}
• Once funds were withdrawn in India, they were allegedly converted into cryptocurrency — via networks in regions including Dubai and China — using encrypted channels. :contentReference[oaicite:3]{index=3}

Arrests and Seized Evidence

So far, authorities have arrested seven individuals in connection with the case, including four engineering-college graduates. :contentReference[oaicite:4]{index=4}

During raids, the police recovered a substantial haul of evidence: cash, 171 cheque-books, 75 ATM/debit cards, 20 mobile phones, laptops and desktop computers, multiple bank passbooks, credit cards — and even a Hyundai Verna allegedly purchased with proceeds from the scheme. :contentReference[oaicite:5]{index=5}

Police Warning: Don’t Share Bank Details

Puducherry Police have issued a stern warning to the public — especially students — to never share their bank account information, ATM cards, PINs or net-banking credentials with anyone. Nor should they allow others to operate their account. :contentReference[oaicite:6]{index=6}

Why This Bust Matters

The fact that an educational institution became the base of a large-scale cross-border money laundering and cyber-fraud network highlights the growing sophistication of fraud syndicates. It also exposes the vulnerability created by misuse of trusted bank accounts — and serves as a reminder of how ordinary accounts can be turned into tools for global financial crime.

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