How Hyderabad police nabbed over 50 cyber frauds including bank babus involved in nearly 600 cases
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«52 cyber criminals were caught and 3 of them were masterminds. 33 cases were detected in Hyderabad city, 74 cases in Telangana state, and 576 cases were detected in the entire country. Mainly they are trading frauds, digital frauds, investment frauds, and digital arrests… In these cases, a total amount of Rs 88.32 crores was lost,» said Anand.
Limited Funds Recovered Despite Large-Scale Fraud
Despite the scale of the fraud, law enforcement was able to recover only a fraction of the lost funds. «We could freeze only about Rs 3 crores through the banking process. Many mobile phones, chequebooks, PAN cards, and other such paraphernalia have been seized,» Anand stated. Authorities focused on securing critical evidence, including financial documents and mobile devices, to strengthen their case against the accused.
Bank Officials Accused of Aiding Fraudsters
Investigations further revealed that some fraudsters managed to operate with the help of banking professionals. «Out of the 33 cases, three cases involve the activity of bankers. With the connivance of bank officials, fraudulent people could open accounts and then siphon off the money through mule accounts,» Anand explained.
As a result, three bank officials were arrested for their role in facilitating these fraudulent transactions. The arrested individuals
