Cyber Fraud Probe in Hyderabad Leads to 52 Arrests Including Bank Officials Across 9 States!

Hyderabad City Police have arrested 52 people, including 32 bank officials, in a coordinated action against a cyber fraud network operating across the country, as per an ANI report.  

The arrests were made over a week during a multi-state exercise covering Maharashtra, Delhi, Rajasthan, West Bengal, Karnataka, Gujarat, Andhra Pradesh, Telangana and Bihar. In total, 16 police teams were deployed for the operation. 

Probe Links Accounts to Fraud Cases 

The action follows an inquiry by the Cyber Crime Police Station in Hyderabad, which traced around 350 bank accounts to nearly 850 cases reported nationwide. The total value of transactions routed through these accounts is estimated at about ₹2,150 crore.  

The cases relate to investment scams, trading frauds and “digital arrest” incidents, where victims were contacted and pressured into transferring money. 

Role Of Bank Staff and Account Holders 

As per the reports, Police said those arrested include bank employees, mule account holders and intermediaries. Some bank officials are alleged to have assisted in opening accounts without proper checks.  

These accounts were later used to receive and transfer funds linked to fraud. Mule account holders allowed their accounts to be used for these transactions, while intermediaries arranged accounts and handled fund movement. 

Material Seized During Operation 

Items seized during the searches include 26 mobile phones, 14 cheque books, 2 pen drives, 1 laptop and 21 stamps linked to shell entities.  

Among those arrested is a relationship manager at Bandhan Bank, who is alleged to have been involved in handling accounts connected to the network. 

Part of Enforcement Effort 

The exercise forms part of ‘Operation Octopus 2.0’. An earlier phase of the operation, carried out in February, involved 32 teams across 16 states and led to 117 arrests. Police said both phases focused on identifying networks using the banking system to move funds. 

Read More: Indian government to Launch ₹12,980 Crore Bharat Maritime Insurance Pool to Guard Shipping Interests! 

Conclusion 

Police said further investigation is underway to trace remaining members of the network and track fund flows across linked accounts. More arrests are expected. 

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