Hyderabad Police Dismantles Pan-India Cyber Fraud Syndicate, 104 Held
The operation was executed simultaneously across 16 states over a span of 10 days. As many as 104 individuals who played pivotal roles in the execution of the fraud were apprehended: Police
Hyderabad: Hyderabad police dismantled Pan-India cyber fraud syndicate in a major crackdown with the arrest of 104 people including a bank official.
Under the leadership of DCP (Cybercrimes) V. Aravind Babu, a coordinated operation was executed across 16 Indian States, launching a massive crackdown on cybercrime syndicates operating across the country, said Hyderabad Police Commissioner VC Sajjanar on Tuesday.
Dubbed Operation Octopus, the initiative was conceived to dismantle cyber fraud networks nationwide. In recent times, there has been a surge in cases of victims falling prey to investment scams, trading frauds, and “Digital Arrest” scams, resulting in the loss of their hard-earned money.
Exploiting the trust of unsuspecting citizens, cyber fraudsters have been draining bank accounts through manipulation, intimidation, and emotional coercion. Recognising the gravity of the situation, Operation Octopus was designed to deliver a decisive blow to these illegal networks.
Following an intensive investigation into the rise of such frauds, the Cyber Crime Police Station (CCPS), Hyderabad, identified a nexus of 151 bank accounts used to siphon off victims’ funds. Through meticulous intelligence gathering and forensic analysis, a complex web of 151 bank accounts was identified as conduits for laundering the proceeds of crime.
To dismantle the network, 32 special teams comprising seasoned investigators were constituted. The operation was executed simultaneously across 16 states over a span of 10 days. As many as 104 individuals who played pivotal roles in the execution of the fraud were apprehended.
Of the 104 people, 86 were mule account holders. Individuals who knowingly permitted their bank accounts to be used for layering and laundering illicit funds. The arrested include 17 account suppliers and aggregators. They were responsible for procuring these accounts and facilitating the movement of funds to the masterminds.
Another arrested include a bank official, who is working as a relationship manager in a private bank. He was found to be colluding with fraudsters to facilitate the opening and operation of fraudulent accounts.
The apprehended individuals were linked to 1,055 cyber fraud cases registered across India, involving a total fraud amount of approximately Rs.127 crore.
The scale of the crackdown is evident from the incriminating material seized. This includes 204 mobile phones, 141 SIM cards, 152 bank passbooks, 234 debit and credit cards, 27 laptops, 56 corporate and firm stamps and Rs.36 lakh in cash.
The scale of 'Operation Octopus' was unprecedented, covering the vast geographical expanse of the nation. To execute this massive crackdown, the teams were simultaneously deployed to legitimate hotspots of cybercrime located in Maharashtra, Delhi, Rajasthan, West Bengal, Karnataka, Uttar Pradesh, Gujarat, Haryana, Punjab, Andhra Pradesh, Assam, Madhya Pradesh, Bihar, Uttarakhand, and Odisha, he said.
