Chandigarh, Aug. 21 -- In a major crackdown on cyber-enabled financial crime, the Punjab Police's State Cyber Crime Wing has busted an inter-state mule account racket that duped thousands of victims across the country of crores of rupees.

Four accused have been arrested and Rs 10.96 lakh in cash seized from their possession, along with nine mobile phones, one laptop, 32 debit cards, 10 SIM cards, 15 bank passbooks and a cheque book, Punjab police said in a press release.

Director General of Police (DGP) Punjab Gaurav Yadav said the accused were running hundreds of mule accounts to channel fraudulent funds abroad through cryptocurrency platforms. "These bank accounts, often obtained from economically weaker sections for small sums of mon...