The Central Bureau of Investigation (CBI) has registered two First Information Reports (FIRs) against former branch heads of Punjab & Sind Bank in Sri Ganganagar, Rajasthan, along with other accomplices, for their alleged involvement in a massive ₹1,621 crore 'mule account' scam. The investigation revealed that these mule accounts were systematically created and utilized to conceal and launder funds generated from various cybercrime activities and other illicit operations. The preliminary enquiry conducted by the CBI unearthed 13 such fraudulent accounts at the bank's Government Girls Senior Secondary School branch and four more at its main branch in Sri Ganganagar, totaling 17 'mule accounts'. The accused officials, including former chief manager Aman Anand and Government Girls Senior Secondary School branch head Vikas Wadhwa, are alleged to have conspired with others to open these accounts. They reportedly circumvented crucial banking regulations such as Know Your Customer (KYC) norms and due diligence requirements. The FIRs allege that forged and fabricated documents, including fake site visit reports and business verification records, were used to facilitate the opening of current accounts in the names of fictitious firms. These 17 firms were found to be non-existent, created solely for the purpose of operating these illicit accounts and routing substantial sums through various banking and digital channels. This illicit activity has not only led to significant financial gains for the perpetrators but also caused wrongful reputational loss to Punjab & Sind Bank. The case highlights a serious breach of banking protocols and a concerted effort to exploit the financial system for large-scale money laundering.