Indian Cybercrime Coordination Center Issues Alert Against Illegal Payment Gateways: Know the Risks and How to Stay Safe
The Indian Cybercrime Coordination Center (I4C), Ministry of Home Affairs (MHA), has issued a serious warning about illegal payment gateways created by transnational organized cybercriminals to facilitate money laundering. These gateways use “mule” bank accounts, where unsuspecting account holders' details are exploited for illegal activities. Recently, nationwide raids conducted by Gujarat Police and Andhra Pradesh Police have uncovered numerous such operations, revealing payment gateways that aid criminals in laundering proceeds from various cybercrimes.
1.How Do Illegal Payment Gateways Operate?
- Cybercriminals scout current and savings accounts via social media platforms like Telegram and Facebook.
- These accounts often belong to shell companies or individuals and are remotely controlled by cybercriminals.
- Once a mule account is set up, it’s used to accept funds from illegal platforms, such as fake investment schemes, offshore betting and gambling sites, and fake stock trading platforms.
- As soon as funds are received, they are immediately transferred to another account using bulk payout facilities, obscuring the origin and making detection harder.
2.Warnings and Precautions for the Public:
-Do Not Rent or Sell Your Bank Account: I4C strongly advises against selling or renting your bank account, company registration certificate, or Udhyam Aadhaar registration certificate to anyone.
-Legal Consequences: If illicit funds are deposited in your account, you could face serious legal repercussions, including arrest.
- Stay Vigilant:Report any suspicious activities immediately to the cybercrime helpline at 1930 or through www.cybercrime.gov.in. Also, follow the official “CyberDost” channels on social media for regular updates.
3.Identified Illegal Payment Gateways and Their Impact:
- Recent investigations have identified gateways like PeacePay, RTX Pay, PoccoPay, and RPPay, which offer "Money Laundering as a Service" and are operated by foreign nationals.
- These gateways allow criminal syndicates to disguise illegal proceeds, complicating investigations and impacting the safety and security of the digital economy.
4.Bank Responsibility and Preventive Measures:
Banks are urged to implement stricter security measures to detect and prevent account misuse associated with illegal payment gateways. Enhanced monitoring of suspicious transactions and stricter checks could help curb such misuse.
5.Government’s Efforts for a Cyber-Secure Bharat:
Under the leadership of Prime Minister Narendra Modi and guidance of Home Minister Amit Shah, the MHA is working with law enforcement agencies to build a Cyber Secure Bharat, aiming to protect citizens and the digital landscape from cyber threats.
Awareness of the risks tied to illegal payment gateways and taking necessary precautions is essential. Misuse of bank accounts for illegal activities can lead to serious legal issues for the account holder. Staying informed and vigilant is key to safeguarding oneself in today’s digital world. BigFor More Information:Report any cybercrime incidents on helpline number 1930 or visit www.cybercrime.gov.in. Follow the official 'CyberDost' social media channels for the latest updates.
