A major crackdown on cybercrime has led to the arrest of 52 individuals across eight states, uncovering a fraud of ₹88.32 crore. The operation, led by DCP Cybercrime Kavitha, targeted digital fraud networks operating across India.
Hyderabad Commissioner of Police CV Anand provided details of the arrests, confirming that three of the accused were masterminds behind large-scale financial scams.
The arrests were made in Gujarat, Karnataka, Andhra Pradesh, New Delhi, Uttar Pradesh, Maharashtra, West Bengal, and Bihar.
The cases involved various forms of online fraud, including trading scams, investment fraud, and digital crimes. Authorities detected 33 cases in Hyderabad, 74 across Telangana, and 576 across the country.
Despite the large financial losses, the police were able to freeze only ₹3 crore through the banking system. Several mobile phones, cheque books, PAN cards, and other financial documents linked to the fraud were seized during the investigation.
Further inquiries revealed that some frauds were facilitated by banking officials who helped open fraudulent accounts used for money laundering. Three bank officials were arrested for their involvement.
Among them was Shubham Kumar Jha, a deputy manager at RBL Bank in Bangalore, along with Harun Rashid, an assistant vice president at Axis Bank, and Kata Srinivas, a sales manager at Kotak Mahindra Bank.
Investigators found that these officials assisted cybercriminals in opening accounts and transferring funds through mule accounts.
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