New Delhi, July 30 -- According to Deputy Commissioner of Police (Central) Rohit Rajbir Singh, the Central District Cyber Police has arrested six members of the syndicate, including a manager of Suryoday Small Finance Bank. Four officials and associates of IndusInd Bank have also been apprehended and bound down for allegedly facilitating the opening of fraudulent bank accounts by bypassing Know Your Customer (KYC) norms in exchange for cash bribes and other incentives.

Police said the racket had been operating for nearly four years, supplying ready-to-use corporate current accounts complete with debit cards, cheque books, internet banking credentials, registered SIM cards, and fake company stamps to cyber fraudsters in India and overseas...