The Malwani Police in Mumbai have busted a gang involved in a sophisticated cyber fraud operation and arrested two accused who were using fake companies and bank accounts to route money obtained through online scams, the officials said on Wednesday.

According to the police officials, the accused used to lure job seekers by promising employment opportunities and would collect their documents under the pretext of completing job formalities. Using these documents, they registered fake private companies and opened current accounts in various banks.