Rented or Sold Your Bank Account for Commission? Legal Risks and What to Do

Ads and messages offer easy money for "renting" your bank account, SIM card or UPI ID, with promises of 2 to 5 percent commission, or a flat payment, for "just letting money pass through". Many people agree without thinking. This post explains the legal risk and what to do if you have already done it.

How the offer usually looks

• "Business payments" or "crypto trading" need an account to receive money.
• A friend, agent or online contact asks to borrow your account for a few days.
• Someone offers a fixed amount per account, or a commission on every transfer.
• You are asked to open a new account, hand over the passbook, cheque book, SIM and net-banking login.

Why it is risky

Money that passes through your account can be traced back to you. If it is proceeds of a cyber fraud, the police may treat you as part of the chain. The sections commonly applied include cheating (Section 318(4) BNS), cheating by personation (Section 319(2) BNS), criminal conspiracy (Section 61(2) BNS), and Sections 66C and 66D of the IT Act. Depending on the amounts and facts, money laundering provisions may also be examined in larger cases.

Courts look at whether you knew, or had reason to know, what the account was being used for. Taking commission, giving away login details, or receiving large unexplained amounts can all count against you.

If you have already given your account to someone

1. Stop the arrangement. Do not allow further transactions.
2. Preserve evidence. Save chats, call logs, payment records and any proof of who approached you.
3. Do not withdraw or move funds in a panic. Seek advice first.
4. Inform your bank in writing if the account, card or login is still with someone else.
5. Speak to a criminal lawyer before you approach the police or the bank in detail. Voluntary and properly guided steps can matter later.

What if the police have already called?

Read our posts on what to do when cyber police call about your account and anticipatory bail in mule account cases.

How to protect yourself

• Never lend, sell or rent your bank account, SIM, UPI ID, debit card or login details.
• Be suspicious of any "job" that asks you to receive and forward money.
• Check your account statements regularly for unfamiliar credits.
• If you are a victim of a scam, report it immediately on the 1930 helpline and cybercrime.gov.in.

FAQs

I only gave my account for ₹5,000. Am I still at risk?

The amount you were paid does not decide your risk. What matters is the amount that went through your account and what you knew.

Can I say I was tricked?

If that is true, it can be an important part of your defence. It has to be supported by messages, call records and a consistent account of events.

Can the account be closed to avoid trouble?

Closing an account that is under investigation can look like hiding evidence. Take legal advice first.

For help, see cyber crime lawyer in Gurgaon and account unfreeze lawyer in Gurgaon.

This article is general information, not legal advice for any specific case.