CBI books former Punjab & Sind Bank branch heads in ₹1,621 crore mule account scam
The Central Bureau of Investigation (CBI) has registered two FIRs against former branch heads of Punjab & Sind Bank in Sri Ganganagar, Rajasthan, for facilitating mule accounts that routed over ₹1,621 crore in illicit funds from cybercrimes and other frauds.
These 17 mule accounts—13 at the Government Girls Senior Secondary School branch and 4 at the main branch—were opened using forged KYC documents, fake rent agreements, and falsified site visit reports for non-existent firms, violating bank norms. The accounts layered and transferred proceeds through banking channels and digital platforms.
Former chief manager Aman Anand of the main branch and Vikas Wadhwa of the school branch are named, along with others who supplied fake documents and facilitated operations. Unknown bank officials are implicated in the conspiracy.
Mule accounts use falsified IDs to launder money, often without the account holder’s full knowledge, enabling concealment of cyber fraud proceeds. Accused gained illicitly, harming the bank’s reputation.
