The CBI registered two FIRs against former branch heads of Punjab & Sind Bank in Sri Ganganagar for allegedly opening mule accounts to launder ₹1,621 crore in cybercrime funds. The agency's probe revealed 13 mule accounts at the Government Girls Senior Secondary School branch and 4 at the bank's main branch. The accused include former chief manager Aman Anand and branch head Vikas Wadhwa. These accounts were opened using forged KYC documents, fake rent agreements, and fabricated papers. "The said accounts were allegedly opened with the connivance and criminal conspiracy of unknown bank officials, violating KYC norms, due diligence requirements and standard operating procedures," the CBI said in the FIRs. A mule account uses fake IDs to move illegal money, often without the account holder's knowledge. "Fake site visit reports and business verification were created by the bank officials to facilitate opening of these current accounts in the names of fictitious firms," the FIR added. All 17 firms named in the accounts are non-existent and were created solely to operate these mule accounts. Transactions running into thousands of crores were routed through these accounts using digital platforms and various banking channels. "These accounts were subsequently used to route, layer and transfer proceeds of cyber-crime and other illicit activities," the agency said. The CBI noted that the accused made illegal gains and caused "wrongful reputational loss" to Punjab & Sind Bank. If money laundering charges stand, the bank could face penalties and financial losses, the FIRs warned.