HYDERABAD: Hyderabad city police arrested 104 persons across 16 states for allegedly operating a nationwide cyber fraud syndicate involved in investment scams, trading frauds and digital arrest scams.
Under ‘Operation Octopus’, police seized 204 mobile phones, 141 SIM cards, 152 bank passbooks, 234 debit and credit cards, 26 laptops, 56 firm stamps and cash.
Hyderabad police chief VC Sajjanar said there has been a surge in such frauds, with victims losing substantial amounts. Following a detailed probe, the cybercrime police station identified 151 bank accounts used to siphon and launder money.
Thirty-two special teams, each led by an inspector-rank officer, carried out coordinated raids over 10 days in Maharashtra, Delhi, Rajasthan, West Bengal, Karnataka, Uttar Pradesh, Gujarat, Haryana, Punjab, Andhra Pradesh, Assam, Madhya Pradesh, Bihar, Uttarakhand and Odisha.
Of those arrested, 86 were mule account holders who allowed their accounts to be used for laundering funds, while 17 were account suppliers who procured bank accounts and facilitated fund transfers. A relationship manager of Bandhan Bank was also arrested for allegedly aiding the fraudsters.
Further investigation is under way.