HYDERABAD: The Telangana State Cyber Security Bureau (TGCSB) has uncovered a massive fraud of Rs 175 crore after investigating 600 complaints against six SBI accounts in Shamsheergunj. The complaints were filed on the National Cybercrime Reporting Portal (NCRP) after large sums of money were transacted through these accounts in March and April 2024, as noted by TGCSB Director Shika Goel.
Police arrested two accused, Mohammed Shoeb Tauqeer and Mahmood Bin Ahmed Bawazir, while the kingpin in Dubai is on the run. The ring leader allegedly has five associates. The gang was luring poor people with the promise of commissions upon opening bank accounts, which would then be used for cybercrimes and hawala operations. Tauqeer played a pivotal role, handling account setups and documentations.
After accounts were created, the fraudsters secured the signatures of account holders on cheques. These were then used to withdraw and distribute funds, including transfers to Dubai via cryptocurrency. By February 2024, the gang had successfully convinced people to open the six SBI current accounts, which saw high activity over the next two months.
Shika Goel said, “A case was registered against the two accused under Sections 66D of the IT Act, 318(4), 319(2), and 338 of BNS at the Cyber Crimes Police Station, Hyderabad.”
Police advise caution
Don’t open a bank account for someone else or engage in suspicious transactions. If you have already opened a mule account, report it to 1930 or http://cybercrime.gov.in. Be cautious of offers to open bank accounts. Verify the identity and credentials of anyone asking you to open an account and monitor your account activity regularly.