Telangana Cyber Security Bureau busts Rs 175-cr scam

Hyderabad: The Cyber Security Bureau’s data analysis team detected numerous complaints reported on the National Cybercrime Reporting Portal (NCRP) portal against six bank accounts in a bank at Shamsheergunj here and upon careful verification, it was revealed that large sums of money were transacted through these accounts within a short period of two months between March and April 2024, it said.

The account holders were suspected of being involved in large-scale cyber fraud and it was found that approximately 600 complaints are linked to these accounts. The main fraudster, operating from Dubai, and his five associates were actively involved in luring poor people into opening bank accounts and supplying them for use in cyber crimes and hawala operations on a commission basis, police said.

Following the main fraudster’s directions, the arrested accused and other associates convinced some poor individuals to open six current accounts in the bank’s Shamsheergunj branch in February this year, luring them with commissions.

In March and April, significant transactions occurred in these six accounts, totalling approximately Rs 175 crores, police said.