In a significant crackdown, the Hyderabad police have dismantled an extensive cybercrime ring spanning multiple Indian states. During “Operation Octopus-2.0,” conducted across nine states, over 52 individuals were apprehended, including numerous bank employees.
Authorities revealed that this operation specifically targeted bankers suspected of aiding cybercriminals. Those arrested were implicated in various illicit activities, such as investment fraud and “digital arrests,” where they intimidated vulnerable individuals and extorted substantial sums of money.
Among the detainees, 32 were bank officials, 15 were “mule customers” (individuals whose accounts are used for illicit transactions), and five were mediators. Police investigations highlighted the pivotal role played by bankers in these crimes, primarily by facilitating the opening of accounts for the criminals.
Sixteen specialized teams were assembled to probe the intricate scam. The inability to commit cybercrimes without bank accounts underscores the deep complicity between these bankers and the perpetrators.
Investigators discovered that the fraudsters utilized 350 different bank accounts to funnel the ill-gotten gains from their victims. These accounts have been linked to more than 850 cybercrime cases nationwide, with identified fraudulent transactions exceeding Rs 150 crore.
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Tags Cyber Crime Hyderabad Police